The Most Common IRS Penalties and How to Avoid Them
There are three (3) common IRS penalties that hit individual taxpayers the most—and the good news is, they can easily be avoided with just a little planning.
How Much Should I Send in with My 1040 Extension?
Tax season can be stressful, especially if you’re unsure about your tax liability or not prepared with all of your paperwork. Filing an Extension could be the perfect solution! If you’re planning to file a tax extension (Form 4868), you’re not alone—and you’re not in trouble either. In fact, filing an Extension is a smart […]
Depreciation Deduction: How It Saves You Money on Taxes
Taxes are inevitable, but overpaying them? That’s optional. If you’re a business owner or entrepreneur, you need to know about depreciation and deductions—one of the best ways to legally reduce your tax bill. In this guide, we’ll break it down in simple terms, answer common questions, and show you how to maximize your financial benefits. […]
RV Ownership Tax Strategies: Maximize Deductions & Profits
RV ownership is on the rise, with over 11 million U.S. households now owning an RV. In fact, 13% of U.S. households own a recreational vehicle, and 43 million Americans regularly go RVing. With numbers like that, it’s no surprise that many people are wondering: Can I write off my RV on my taxes? The […]
How to Pay Your Kids In Your Business
Why aren’t more small business owners paying their kids under 18? It’s a smart move to shrink your tax liability and gain so much more
Maximizing Your S-Corp Home Office Tax Deduction: Tips and Tricks
Working from home is no longer a trend—it’s the new normal. Whether you’re running a full-time business, managing a side hustle, or freelancing, the S-Corp home office deduction can be a game-changer for your finances.
How to Choose the Best Health Insurance Plan During Open Enrollment 2024
There are truly several tricks or strategies to maximizing your tax-writes and acquiring the correct health insurance policy.
Top 10 Ways to Avoid an IRS Audit
Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit with the IRS. As many of you can imagine, an audit can be expensive and time-consuming, not to mention, emotionally draining experience. Please take these to heart.
“8 Year-End Tax Tips You Must Complete by December 31st”
This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2025
