6 min read
The Year-End Playbook: 13 Questions to Answer Before December 31
Almost every tax move worth making has a date attached to it, and most of those dates land before December 31. The useful tax conversation happens in...
4 min read
Why Isn't My Business Getting Paid on Time?
Most of the time it traces back to how hard you make it to pay you. Every step you put between your customer and their payment is another chance for...
6 min read
How Do Taxes Work for Small Business Owners?
If you own a flow-through business, the business itself usually does not pay income tax. The profit flows to you and you pay tax on it personally,...
3 min read
How Much Self-Employment Tax Will I Owe?
Roughly 15.3% of your net self-employment income, which is what you brought in minus your business expenses. That's before income tax. It's a...
3 min read
Why Do I Owe Money on My Tax Return?
For most W-2 employees, the answer is withholding. Your total tax gets calculated on everything you earned for the year. What you paid in through...
3 min read
The $10,000 stock and the $100,000 deduction
It is the middle of September. You have about fifteen weeks left in the year.
4 min read
What's the Difference Between a Tax Preparer and a Tax Advisor?
A tax preparer takes your documents after the year has closed and produces a return. A tax advisor works with you during the year, calculates what...
3 min read
Are Owner Distributions Tax Deductible?
No. If you own a flow-through business, the distributions you take are not tax deductible. A distribution comes out of profits, which means it comes...
4 min read
What Should You Do to Get Your Business Ready to Sell?
Fix your financial records first. When you sell, the buyer runs a due diligence process that includes a quality of earnings study, and every question...
4 min read
How Does Donating Appreciated Stock to Charity Work?
Donating appreciated stock directly to a church, charity, or nonprofit gives you a charitable deduction for the full market value of the shares, and...