Why a CPA Tax Strategy Partnership Is a Wealth Tool Words I like: “Let me talk to my CPA first.” If you want a serious tax strategy, you don’t need a spreadsheet. You need a partner. A CPA tax strategy partnership built around your financial goals. Someone who meets with you before decisions get made—not […]
Let’s talk about something nobody likes to admit: You can be a brilliant business owner and still make bookkeeping mistakes—especially the kind of bookkeeping mistakes business owners make without even knowing. That doesn’t make you reckless. It makes you human. Running one business is demanding. Running multiple? That’s chaos. Add a family into the mix—especially […]
K-1 Tax Strategy Issues: Why You Can't Ignore the Leaks K-1 tax strategy issues are one of the biggest hidden threats to your wealth—and most business owners don’t even know they’re there. Hmmm…. Last week, something caught my eye in a client’s returns. The K-1 wasn’t showing the numbers I expected. (If you want to […]
Smart Backdoor Roth Strategy for High-Income Business Owners Backdoor Roth for business owners is one of the most effective strategies to build tax-free retirement wealth, especially if you’re earning too much to contribute directly to a Roth IRA. If you’re a business owner making serious money, the IRS probably won’t let you contribute to a […]
PCORI Fee Compliance for HRA Plans: What Small Employers Must Know PCORI fee HRA compliance is essential for small employers offering health reimbursement arrangements. Just a quick heads-up! If you’ve set up a Health Reimbursement Arrangement (HRA)—like a 105-HRA, a QSEHRA, or an ICHRA—to help your employees with medical costs, that’s awesome. You’re not just […]
Small Business Health Insurance Strategy and Tax Benefits Health benefits tax deduction is a powerful strategy for small business owners looking to reduce their tax burden and offer real value to their teams. When you offer health care benefits to your team, you’re not just being generous—you’re being strategic. The choice to offer benefits can […]
Introduction to Backdoor Roth IRA for business owners If you’re a business owner or high-income earner, you’ve probably hit the wall with Roth IRA income limits. And that stings, because Roth IRAs are one of the most powerful tools for tax-free retirement growth. Good news: there’s a perfectly legal workaround called the Backdoor Roth IRA. […]
Disabled individuals, and also parents of disabled children, might qualify for several tax credits and other tax benefits.
Throughout the holiday seasons, numerous charities solicit presents of money or property. Here are some ideas for documenting your charitable gifts so that you can claim a deduction on your income tax return. Saving on tax with Charity Donations