It’s easy to blow off talk of abusive tax shelters, tax evasion, and tax fraud. After all, those things only affect the uber-wealthy, right? Well, sort of. Let’s face it, no one reading this blog saw their name in The Paradise Papers. And they aren’t worried about being cast as a character in The Laundromat.… Read More

There are tons of articles about Limited Liability Companies (LLCs) and S Corporations. But there’s still plenty of confusion about how they work, especially regarding taxes. So, today’s post will examine whether or not it’s better for an LLC to be taxed as a sole proprietorship or as an S corporation. That way, you can… Read More

If this week’s headline on classifying employees looks familiar, that’s because it’s exactly like last week’s– except for the number. Lest you think we’ve taken to making sequel flops for our posts, a la Caddy Shack II, think again. This week’s post is a follow-up to last week, covering how the IRS classifies worker tax… Read More

Classifying workers for tax purposes is like trying to see through a glass of chocolate milk. That unclear outlook can leave employers operating in a very dangerous area. That’s because misclassification can bring the wrath of the IRS, the Department of Labor, and the National Labor Relations Board. And that wrath can include financial penalties… Read More

Building a startup is like building a house; the stronger the foundation, the better chance it will remain standing for years. And mastering the tax fundamentals of your new business is a big part of building that foundation. That’s why today’s blog post is so important for new business owners. We’ll review those fundamentals and… Read More

This blog often discusses business investment strategies, focusing on traditional vehicles like stocks and acquisitions. But you may not have the capital to think in those terms if you’re just starting a business. So, today’s post will focus on some non-traditional investment ideas that can potentially reduce your tax burden and help you reach your… Read More

Between 2010 and 2022, annual college tuition was up 12% on average. That gives higher education the dubious distinction of being one of the highest inflation sectors in the U.S. economy. And there seems to be no end in sight. Fortunately, there’s a silver lining: 529 plans. These plans let you save for your child… Read More

So much investment advice centers around raw returns. Most rates of return you see on standard investments are before the IRS takes its share. The impact of taxes on overall returns is often glossed over or ignored altogether. However, ignoring tax considerations can lead to lower returns and lost opportunities. So, today’s blog post will… Read More

So, your small business is in a place where you can begin thinking about reinvesting profits. Congrats! Now, all you need is a business investment strategy. In today’s post, we’ll look at five steps to develop that strategy and make your profits work harder. Assess your financial situation and business goals The foundation of any… Read More

Happy New Year! If you’re expecting a tax refund this year, a question is probably brewing in your mind. That is, what do you do with the money? The average refund in 2023 was $2,753. If 2024 is anywhere close, your refund could go a long way to paying off debt or adding to your… Read More