The Planner

As with any business investment or expense, you want to make sure you’re getting what you’re paying for.  The same rings true with an accountant or CPA.

You have successfully survived the start up of your business, and you're now making some money.   You know what that means?  Taxes!  One of the best tax strategies for entrepreneurs is funding a retirement plan.  Let's look at two popular options, the Solo 401(k) and the SEP IRA

The tax code is a confusing place for an entrepreneur, and it uses a whole different language.  One of the common forms business owners receive is a schedule K-1.  So What is a Schedule K-1?  Glad you asked! Let's discuss...

What's in a name?  Well Business ID Number means different things to different people.  Let's discuss the possibilities.

Should your business use Turbotax or a CPA to prepare your taxes?  You might expect us to say absolutely NOT, but let's dig a little deeper on that.

There are many reasons you can choose to file an extension for your income taxes.  Most likely, you simply need more time to gather all of your information or meet with your accountant.  But is there a downside to filing an extension?

Tax deductions are great, but tax credits are even better!  So what's the difference?  Glad you asked!

You are forgiven for not being able to keep up with all of the changes in small business taxes.  It has been a chore to digest everything even for professionals.  Here is a recap of recent small business expense changes.

Accountants are weird. They use funny words and use lots of spreadsheets.  One common word is Capital Improvements.  Similar words that they use to describe the same things: Capital Assets, Fixed Assets, Property, Real Estate, FF&E (Furniture, Fixtures, & Equipment).  In the accounting tax world, all of these terms describe something with an economic benefit beyond one year.

During lean times, people find opportunities to turn their hobby into a few extra bucks. Sometimes those opportunities explode into more possibilities than expected. It doesn’t take long before you ask yourself a reality-check question.