Navigating a Business Tax Audit

Navigating a Business Tax Audit If your business is being audited, take a deep breath and understand the reasons behind it. Audits may be random or triggered by issues specific to small businesses, such as excessive expenses, misclassified employees or questionable deductions. While an audit doesn’t necessarily mean you’ve done something wrong, it is the […]

Why a Business Credit Card Might Be Right for You

Business credit cards separate personal and business expenses while earning rewards on common purchases. Even freelancers and gig workers can qualify, making them a simple tool for managing finances.

Retirement Plan Options for the Self-Employed

Self-employed individuals have access to several retirement plan options with valuable tax benefits. Understanding each plan helps you choose the best fit for your financial goals.

OBBBA: Learning the Deduction Details

The OBBBA law offers new deductions from 2025 to 2028 for tips, overtime pay, car loan interest, and seniors. Each comes with specific eligibility rules, deduction limits, and income phase-outs, impacting both individuals and businesses. Read on to learn how these provisions could affect you, and reach out to our CPA team for expert guidance on maximizing your benefits and planning for your business.

Hobby or Business? Why It Matters at Tax Time

Are you correctly classifying your activity as a hobby or a business, and do you understand how that distinction can impact your tax obligations? Learn what the IRS considers and why it matters during tax season.

Independent Contractor or Employee?

If you’ve recently received IRS Notice CP14, you’re not alone. This notice is a common first step when the IRS believes you have unpaid taxes. As your CPA, we can help you understand what the notice means, confirm its accuracy, and guide you through next steps to resolve it efficiently.

Trusts Versus Wills: What’s Right for You?

If your estate is small and your wishes are straightforward, a will may be all you need. However, if your situation is more complicated, or if you desire greater control, privacy or protection, you may choose to utilize both a will and a trust.

Mentoring: Passing Down Skills

Mentors help mentees feel valued and supported, boosting their confidence and personal growth. By sharing your skills and knowledge, you help prepare the next generations of leaders while enriching your own life and retirement.

Hiring Rules for US Employers

In the hiring process, you must ensure that every individual you plan to employ is authorized to accept employment in the U.S. Some individuals are automatically authorized to work based on their immigration status, while others must apply for separate employment authorization.

Why Dead Investors Outperform the Living

Dead investors don’t read The Wall Street Journal, sell during panics or jump on the bandwagon during manias. They don’t pester their brokers or boast about their portfolio winners. “Fear of missing out”