The small business owners’ simple guide to finances.
Feeling overwhelmed by your business’s finances? You’re not alone. The world of numbers, spreadsheets, and financial jargon can be intimidating, but it doesn’t have to be. We created the Know Your Worth course to give you the simple, clear guidance you need to take control of your business’s financial future.
We’ve made this course completely free because we believe every small business owner deserves a solid financial foundation. Our simple guide to finances will walk you through everything you need to know, in a way that’s easy to understand and even easier to apply.
Highest US Tax Rate EVER? Discover the 94% marginal income tax rate from WWII, how it compares to today's 37% top rate, and why understanding tax brackets is crucial for small business owners. Learn to plan for growth and minimize your tax bill!
Helping a kid start a business? Learn the essential tax rules and IRS requirements for young entrepreneurs, including bank accounts, bookkeeping, and filing Schedule C.
U.S. Expat Taxes Guide: Digital nomads and Americans living abroad, don't miss the filing deadline! Learn about the Foreign Earned Income Exclusion (FEIE), Foreign Tax Credit (FTC), FBAR, and FATCA reporting to avoid double taxation and IRS penalties.
-
Confused about whether to take the standard deduction or itemize? Learn the latest deduction amounts for 2024 & 2025 and get a CPA's guide to choosing the best option for your tax bill. Find out which deduction saves you more!
-
Many people assume that the Earned Income Tax Credit (EITC) only applies to traditional employees with W-2 wages, but that’s not true. In today’s post, I’ll explain how small business owners, freelancers, and the self-employed can qualify for this credit. I’ll also share a tax strategy that can help small business owners maximize their EITC [...]
-
As a CPA who works closely with small business owners, I understand that cash flow isn’t always predictable. You might have a great quarter followed by a slow one, or an unexpected expense might throw off your savings. When my clients find themselves in these types of situations, they do what they do best: [...]
-
Quick reference — standard deduction (2025 & 2026)Standard deduction — increased and made permanent under §70102 of the One Big Beautiful Bill Act (P.L. 119-21, 2025), which amended §63(c)(7) so the temporary TCJA-era amounts continue indefinitely with annual inflation adjustments.Filing status2025 (return filed in 2026)2026 (current calendar year)Single / MFS$15,000$15,750Married filing jointly / QSS$30,000$31,500Head of [...]
-
Quick reference — long-term capital gains rate brackets (2025 & 2026)Long-term capital gains rates — 0%, 15%, or 20% depending on taxable income. Income at or below the "0% rate max" pays nothing on long-term gains; income above the "15% rate max" pays 20%. (NIIT and state taxes may apply on top.)Filing status2025 — 0% [...]
Quick reference — Section 179 & bonus depreciation (2025 & 2026)Section 179 expensing & bonus depreciation — 2025 and 2026: 20252026§179 max deduction$2,500,000$2,560,000§179 phase-out begins at investment of$4,000,000$4,090,000Bonus depreciation rate (§168(k))100%100%§179 expensing limits were increased by §70306 of the One Big Beautiful Bill Act (P.L. 119-21, 2025) — the new caps apply to property placed in [...]
-
Comprehensive guide to completing your Schedule C, including expense and income reporting.
