Income Shifting: SAVE Thousands in Taxes

Want to save money in taxes WITHOUT working harder? One way is to shift income from a higher bracket taxpayer to a lower one or even a zero rate-bracket. Typically, splitting the income between family members by hiring them to work in the business will save thousands

Read more

Five Tips to Make Tax Time Painless

Tax time is probably not your favorite time of year, especially if you have to pay the government your hard-earned dollars. Here are five tips on how we can make it just a bit less painful. 1. Have patience. Practicing patience will go a long way when

Read more

Entertainment Deductions: Half the Fun?

Here are some basic rules you need to know to ensure that all your entertainment expenses are deductible: Do you have an ordinary and necessary business reason for the entertainment? Did you have a quiet business discussion before, during or after the event? No discussion, no deduction!

Read more

1099s—The Ins and Outs

Processing 1099s can be confusing and frustrating. Here are some facts you need to know! General Rule: If you pay someone more than $600 in a calendar year for services, not material/product, then you are required to provide a 1099 showing the amount you paid. One tip

Read more

The Tax Benefits of Health Savings Accounts

If you have a high-deductible health insurance plan, you probably know how important it is to have a Health Savings Account (HSA) to save for those medical expenses that come out of your pocket. HSAs offer great tax savings if you qualify.  What’s so good about them? 

Read more

Will You Pay Tax on Your Social Security Benefits?

Some individuals who start drawing social security benefits end up with a nasty surprise come tax time – they owe tax on a portion of these benefits! After all, such benefits were historically exempt from any federal income tax. Times have changed, however, and you need to

Read more

How to Beat Procrastination

Would you call yourself a procrastinator?  If so, you’re not alone, and with our to-do-lists growing daily, the percentage of people who procrastinate chronically has increased over the last few decades. There’s a difference between procrastinating and prioritizing.  Great entrepreneurs know how to put the most important

Read more