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.
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$15,750$16,100Married filing jointly / QSS$31,500$32,200Head of [...]
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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 [...]
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Comprehensive guide to completing your Schedule C, including expense and income reporting.
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Navigating taxes after divorce? Learn how divorce impacts tax filing status, child dependency claims, alimony, asset division, and home sales. Avoid costly mistakes with expert CPA insights.
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Unlock the secrets of Modified Adjusted Gross Income (MAGI)! Learn how this crucial tax term impacts small business owners' eligibility for tax credits, deductions, and retirement contributions. Discover MAGI calculation methods and strategies to reduce your MAGI for maximum tax savings.
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Learn the top 20 tax terms every small business owner should know—from deductions and credits to S-Corps and Schedule C. Written by a CPA for creative entrepreneurs, this guide simplifies key tax concepts to help you run a financially confident business.
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Learn how to save money on education with tax credits and deductions for small business owners. Explore AOTC, LLC, and business expense write-offs to reduce your tax bill.
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Confused about business expenses vs. tax deductions? Learn the key differences, what you can "write off," and common non-deductible expenses to maximize your small business tax savings.
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Can I claim my child as a tax dependent if they have a job? Get clear answers on IRS rules for dependents, qualifying child criteria, filing taxes, and what happens with divorced parents. Learn about tax credits and requirements to ensure you avoid errors.
