Personal financial literacy seems to grab all the headlines, but business literacy is just as important, no matter where you are in your entrepreneurial journey. If you’re just starting, there is plenty to learn, and if you’ve been in the game awhile, you know it always keeps changing. Either way, it’s essential to keep learning.… Read More

They say the difference between a successful small business and a bad joke is that you can explain a bad joke to the IRS. Of course, you can explain a successful business to them, especially if part of that explanation involves a good business tax strategy. That’s because a good strategy can maximize profits and… Read More

No one goes into a business to lose money unless they are interested in committing tax fraud.   But even losses and bad debts can be used to survive until better times come around. If you want to open a business but worry about financial losses, today’s post will show you potential ways to deal… Read More

Ben Franklin said death and taxes are the only two sure things in life. But unlike taxes, Congress does not meet yearly to make death harder. Yes, the tax code can get pretty complicated for small business owners, especially when it comes to tax deductions. Today’s post will add some clarity and help you identify… Read More

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