That children over the age of 7 can work for your business and participate in your401k, SEP IRA, and other big tax benefit strategies? “Hey little Bobby,put your suit on, your coming to work!”…
July 23, 2019
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Category Archives: Small Business information
April 20, 2019
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What’s in a Name: Guaranteed Payments vs. Salary vs. Distributions
Xavier, Yolanda, and Zach each own a third of XYZ, LLC. XYZ is a law firm focusing on insurance defense. The firm earns $300,000 a year. By law, the three barristers cannot earn salaries from their LLC. So, to avoid … Continue reading
Go-Pro in the News!
March 27, 2018 by admin | 0 comments
December 9, 2017
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Proposed Bill and SE Tax on S Corps
Hello, is your business set up as an S. Corp? Even and LLC that is taxes as an S. Corp will have this same situation. According to my understanding of the proposed Bills in the House and Senate if your … Continue reading
October 1, 2017
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Audit Proof your records
Audit Proof your records is not as hard as you may think. First you need a couple of things. Most are FREE, in fact you may already have some of these. Use a professional tax person. The IRS knows we … Continue reading
September 20, 2017
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New Service: Tax Concierge
What is a Tax Concierge you might ask? Glad you did. Has your tax person asked you to total your receipts and give them the totals? Do you keep your receipts in a box till tax time? Then sit down, … Continue reading
August 10, 2017
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Five Places Where Spending More can Make You More
It’s generally a good idea to keep overhead costs low so that your business profits will be higher. This is especially true with items such as utilities and rent. But there are times when increasing expenses pays off nicely, and … Continue reading
August 4, 2017
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Depreciation
Hello everyone, I was talking with a lady yesterday who’s business bought a new warehouse. I was asking for the cost of the land, building. Then I asked what was inside the building when you purchased it. Maybe I said … Continue reading
June 26, 2017
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Ways to Prevent Employee dishonesty
You’ll find most of your employees are honest and walk the straight and narrow. However, not all employee fraud is intentional. From disorganized expense reports to poorly defined office procedures, employee mistakes could be costing your client thousands. Here’s some … Continue reading
June 9, 2017
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Summer Time Hires – continue
2017 SUMMER HIRING RULES Rules for 100% parent-owned businesses Owners’ children of any age • Can work any number of hours or time of day. No one under 16 can do hazardous work (e.g., with lawn mowers, sewing machines), work near flammable or … Continue reading