How to Reimburse Yourself Tax-Free with an Accountable Plan
A lot of small business owners pay for expenses out of pocket without realizing there’s a smarter way to handle it. If you’ve ever paid for your phone bill, home office, or business travel personally, you can get reimbursed for those costs, completely tax-free. That’s what an Accountable Plan does. It’s an IRS-approved way for business owners […]
How to Turn Your Medical Bills Into Tax Deductions
A surprise medical bill can wipe out your profits in an instant. But it doesn’t have to. This article covers powerful legal tax strategies that small business owners can use to turn medical expenses into a deductible asset. By the end, you will know exactly which moves to make, whether you are a solo entrepreneur […]
Why Every Family Needs a Revocable Living Trust
Most people think trusts are only for the wealthy. But every family can benefit from one. A revocable living trust is one of the simplest and most powerful tools for protecting your assets, avoiding probate, and building a legacy that lasts. Let’s dive into how families can use basic legal structures (like a trust or family LLC) […]
Advanced Tax Strategies the Ultra Wealthy Use (and How You Can Too)
Most business owners focus on the basics. They set up an LLC, fund their retirement plan, and track deductions. But once you start earning over $250,000 or sell a major asset, the game changes. You move beyond simple write-offs into advanced tax planning. These are strategies that can legally save you hundreds of thousands of […]
Turn Everyday Costs Into Tax Deductions (Maximize Deductions)
Most business owners are spending money the wrong way. Every dollar you spend is either pre-tax or after-tax. Pre-tax dollars give you the full $100 of value. But with after-tax dollars… you’re only keeping about $65 once the IRS takes its share That difference adds up fast. The key is knowing how to shift […]
Case Study: How We Cut $20K+ Off His Tax Bill (Step by Step)
Are you overpaying the IRS by $50,000? For this S-Corp owner, the answer was YES. Here’s what we did to slash his huge tax bill. I did a live case study on Eric, a small business owner running a successful appraisal company and a martial arts school. Eric took home solid profits but also […]
Car Write-Offs Explained: How to Maximize Your 2025 Auto Deduction
In 2025, the IRS raised the standard mileage rate to 70 cents per mile. That increase plus the way you track, deduct, and choose between mileage or actual expenses, can mean the difference between saving a little and saving a fortune. This guide breaks down the updated rules, the two main deduction methods, common mistakes, […]
How the Home Office Deduction Can Save You $1,500 a Year
What if the desk you’re sitting at right now could save you up to $1,500 a year in taxes? Most business owners skip this deduction because they think they don’t qualify, or they’re worried the IRS will come knocking. The truth is, the home office deduction is legitimate, simple to calculate, and available to most […]
How Founders Sell Their Companies With $0 in Taxes | QSBS Explained
Imagine selling your startup for $15 million and paying nothing in federal taxes? This is what QSBS makes possible. For startup founders and early investors, the Qualified Small Business Stock (QSBS) can make the difference between paying millions or paying nothing at all. Let’s break down how QSBS works, the new changes in the law, and the mistakes […]
Independent Contractor or Employee? Hiring Mistakes That Trigger an IRS Audit
Misclassifying workers is one of the biggest mistakes a business owner can make. It might seem cheaper to pay someone as a 1099 contractor, but if the IRS says they should be a W-2 employee, you’re looking at back taxes, penalties, and possible audits that could cripple your business. Let’s break down the IRS […]