Take full advantage of section 179D deductions, 45L tax credits, depreciation schedules, and accounting methods that maximize savings.
Articles: Tax Advice
The latest newsworthy items
Straight talk on tax planning, accounting, and financial strategies your company needs to grow fast and smart.
How to Hire Your Children for Tax Savings
Hiring your kids is an effective strategy to reduce federal FICA and payroll taxes. See this article for rule, requirement, and steps to do it right.
How to File a Late S Corp Election For Year-End Tax Savings.
Want to file a late S corp election? Let’s talk about requirements like “reasonable cause” and why you need to act like an S corp before filing.
The Complete Depreciation Guide for Small Businesses
Get useful information on depreciation
as an accounting method and tax deduction, as well as eligibility, depreciable assets, and depreciation methods.
Will R&D Tax Credits Be Viable in 2024?
Here’s what small business owners need to know about the past and future of R&D tax credits.
When Does the QBI Deduction Expire, and Will You Pay More In Taxes?
Small business owners need to know if and when QBI deductions expire and what actions to take now to avoid devastating tax bills.
How to Maximize Fuel Tax Credits: Off-Highway Use and Limits
See how to maximize fuel tax credits with eligibility requirements, filing information, scam prevention, and accounting tips.
What Is Section 179? Seven Steps to Maximize Deductions
Cash flow problems? Don’t wait for depreciation. Get full deductions this year with an informed approach to section 179.
What are Allowable Business Expenses?
How many business experienced owners can tell you what “allowable expenses” are? It matters for tax savings.
Can You Deduct Real Estate Taxes on Investment Property?
There’s a slew of federal deductions for property owners. The question is, “Do you know them, and do you qualify?” Get the details here.
What Is Tax Planning?
What is tax planning? It’s a process that reduces personal and business tax liability starting now and extending into retirement. Learn more.
Small Business Tax Deductions Checklist for 2023 (Plus Credits)
Start the 2023 tax season strong with a checklist to plan to for tax deductions and credits. Take a hard look. Does your business qualify?
What Is The New Markets Tax Credit Program? Charity or Opportunity?
The New Markets Tax Credit program is not charity, it’s a tax reward for businesses that bet on long-term growth in underserved communities.
What Expenses Qualify for R&D Tax Credits?
Only 3 in 10 small businesses take advantage of research and development tax credits that they are eligible for. See if you qualify here.
What Business Meals Can You Deduct?
What business meals can you deduct? How much can you deduct per expense? Read this guide to build relationships without breaking the bank.
Letter: The Danger of a Tax Compliance Mindset
Over the last few weeks, I’ve been busy breaking down complex elements of the tax code and Internal Revenue Service (IRS) regulations. Have we been...
How to Depreciate Renovation Costs and Save on Taxes
Learn how to offset the cost of renovation with simple tax deductions.
How do Business Owners Pay Less Taxes Now and In Retirement?
How do business owners pay less in taxes now and plan for retirement? Let’s talk tax-efficient businesses and tax-efficient retirement plans.
How to Depreciate a Car for Business
Learn how to depreciate a car for business, account for depreciation, and claim lucrative tax credits.
How to Invest Business Profits to Avoid Taxes
Here are my top four tax strategies that allow yout business to reinvest business profits and reduce tax liability simultaneously.
Tax Season is Over. What’s Next?
If small business owners knew what to do after tax season, we'd see tax savings increase next year by wide margins. So what do you do after tax...
How to Keep Small Business Taxes Low
Sometimes business owners just get it. I ran into a client at the Fort Worth Arts Festival last weekend. He said, “Just a quick check-up," and...
How Long to Keep Business Tax Records
Tax documents, statements, receipts, ledgers, titles—how long should you keep your records? Get the facts that keep your business IRS-compliant.
An Introduction to Amending Tax Returns
Yes, you’ve filed. But tax returns aren’t etched in stone, and businesses can correct mistakes and take advantage of opportunities retroactively by...
Tax Preparation vs. Tax Planning: A Guide for Business Owners
Tax preparation is the ultimate "of course" service for growth-stage business owners. Tax planning is entirely different in terms of process and...
Small Business Tax Changes for 2023
See my list of good (and bad) small business tax changes for 2023 that all business owners should be aware of.
Is Depreciation Tax Deductible?
Is depreciation tax deductible? Which assets can and can not be depreciated? Stay informed with my comprehensive guide to depreciation.
A Complete Guide to 2023 Tax Credits for Small Businesses
Actionable information on high-impact tax credits: tax-saving potential, qualifying requirements, rules and exceptions, costs, forms, and next steps.
How to Avoid Small Business Tax Mistakes
Tax and bookkeeping errors cost small businesses millions in taxes each year. Avoid the five most common mistakes with easy solutions you can implement now.
When Are Small Business Taxes Due for 2022?
Tax deadlines are coming up, and small business owners are asking the same question, “When are small business taxes due for 2022?” Today, we have to...
5 Important Documents Needed For Small Business Taxes
With tax season in full swing, small business owners need to know what documents are needed for small business taxes and how these documents help...