Why You Should Buy Your Parents’ Home and Rent it Back to Them
Buying your parents’ home and renting it back to them can be a smart strategy to protect family wealth, create tax benefits, and give your parents peace of mind. Done right, it unlocks equity for them, provides you with rental property deductions, and keeps the family home in the family.
Hobby or Business? How to Avoid the Hobby Loss Rules and Keep Your Write-Offs Safe
Think your side hustle is a business? The IRS might call it a hobby—and torch your deductions. In 2025, the IRS is cracking down harder than ever with AI-powered audits and zero write-offs for hobbies. Here’s how to prove you’re legit, protect your losses, and keep every deduction you’ve earned.
6 Types of LLCs Every Entrepreneur Needs to Know
You’ve probably heard that forming an LLC is a smart move for protecting your business and assets. But did you know there are six main types of LLCs—and two bonus variations—that each serve very different purposes? In this guide, we’ll break down exactly what those types are, who should use them, and how choosing the […]
Avoiding problems with the IRS and the “Dirty Dozen”
All of us want to save taxes, but at the same time stay out of trouble with the IRS. In fact, I would hope we would even have a higher standard of being honest and ethical in the manner in which we all report our income, deductions and file our tax returns. We live in […]
Bookkeeping for Beginners: Organize Your Business Finances
Starting your own business feels incredible—until reality hits: you’re also now the bookkeeper. If you’re wondering, “How do I even start my bookkeeping?”, you’re not alone. We’ve been there. So have thousands of business owners we’ve coached—some who got it right early, and some who learned the hard way. Good news? You don’t have to figure it […]
Maximizing Vehicle Write-Off for Your Business
Business vehicle write-offs under current law help company owners deduct more than ever – faster than ever – from their taxes. But the specifics are sometimes confusing (not to mention they can change year by year). Never fear: I’m here to help. Let’s dig into the nitty-gritty of vehicle write-offs for your business, so you […]
Koinly: The Smart Tax Pro’s Tool for Tracking Crypto Gains
Crypto clients don’t always know what they’re doing—but their wallets sure do. If you’ve ever looked at a spreadsheet full of transactions from a crypto client and wondered how you’re supposed to make sense of it all… you’re not alone. Tracking crypto trades, swaps, staking rewards, and DeFi earnings can feel like trying to […]
How to Write-off Your Travel Expenses
Making sure our travel has a ‘business purpose’ is critical and a perfect opportunity for business owners for a great tax write-off.
Pay Your Taxes by Credit Card and Score Some Points!
How many of you build, track and utilize credit card points for personal benefit? You can pay your taxes using a major credit card or a debit card online. Individuals can make these payments 24 hours a day and seven days a week.
