Starting a new business? This suggestion: Keep your small business accounting and your taxes simple. Really simple. The reason? In the post-pandemic … [Read more...] about Six Hacks to Simplify Small Business Accounting and Taxes
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Twin Problems of Unprofitable Customers and Services
I’ve been coaching some new CPA firm owners about how to build a profitable professional services firm. And to jump to the punchline? The twin tricks … [Read more...] about Twin Problems of Unprofitable Customers and Services
Section 1202 Qualified Small Business Stock Pitfalls
I wrote a post a few weeks ago about all of the great benefits of Section 1202 Qualified Small Business Stock (QSBS). But frankly? It would be … [Read more...] about Section 1202 Qualified Small Business Stock Pitfalls
The Hidden Magic of Arithmetic Growth
Many investors know about geometric growth, which is what compound interest is. Investors, for example, know that if you earn an annual 5 percent … [Read more...] about The Hidden Magic of Arithmetic Growth
Maximize Depreciation Deductions under the Tax Cuts and Job Act of 2017
The Tax Cuts and Jobs Act (TCJA) of 2017 created new depreciation rules. And both business owners and real estate investors want to learn the new … [Read more...] about Maximize Depreciation Deductions under the Tax Cuts and Job Act of 2017
IRS Audit Prevention Tips
Your tax return is due sometime in the next couple of weeks—unless you extend. And given that, I thought it’d make sense to talk about IRS audit … [Read more...] about IRS Audit Prevention Tips
Unreliability of Long Run Stock Market Returns
A myth about long run stock market returns exists. A powerful, but maybe dangerous, myth. That myth goes like this: Over the long run, because … [Read more...] about Unreliability of Long Run Stock Market Returns
FIRECalc Retirement Plan B Calculations
Yesterday’s blog post talked about why you and I both need to have a retirement plan b. To recap, that suggestion flows from a simple reality—that … [Read more...] about FIRECalc Retirement Plan B Calculations
Payroll Accounting Rules for S Corporation Shareholder Health Insurance
Oh my gosh. It’s crazy, right? Complicated old rules and then fuzzy new rules from the Affordable Care act make it really hard for S corporation … [Read more...] about Payroll Accounting Rules for S Corporation Shareholder Health Insurance