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 Many Properties Should I Put in My LLC?
I believe in smart investing, not overcomplicating. Setting up an LLC for every rental property might seem like a great idea, but for the majority of investors, it’s just a costly and inefficient move—especially when equity is still building.
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.
Building a Personal 10-Year Plan
A 10-year plan is your personal roadmap to achieving long-term financial goals and living life on your own terms. Whether you’re growing a business, managing a side hustle, or planning your exit strategy, having a well-defined vision will help you stay focused and in control of your future. Instead of being reactive to life’s twists […]
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
The New Home Mortgage Interest Deduction
The new law first imposes a lower dollar limit on mortgages qualifying for the home mortgage interest deduction. Beginning in 2018, taxpayers may only deduct interest on $750,000 of new qualified residence loans ($375,000 for a married taxpayer filing separately), and the limits apply to the combined amount of all mortgage loans. Moreover, the extra $100,000 of home equity interest is gone entirely.
Health Care Tax Strategies for Small Business Owners
Small-business owners have more options to save on healthcare and insurance costs than any other group of Americans! It simply takes a little bit of research and consulting with professionals to create the perfect plan for you.
