Because you run your own business, it’s pretty safe to say that record keeping is one of the many administrative monkeys on your back. Which is why the idea of a set-dollar travel per diem may seem mighty appealing. Think of it—instead of tracking every dollar you spend on travel Read more…
For the last few weeks, I’ve been sharing a lot of financial “stuff” based on how so many people find themselves in hot water when it comes to money and spending. This week, though, as tax season is definitely heating up, I wanted to get back to some basics when Read more…
This late in the month, you’ve probably become firmly convinced that I’ve gone crazy. Why is a CPA giving business lessons? Where’d they get all these ideas, anyway? Well, a lot of it is simply experience. I work with all types and sizes of companies and entrepreneurs, so I’ve seen Read more…
With incentive stock options (ISOs), you could be on your way to a very nice payout. But you must consider both the regular federal income tax results and the alternative minimum tax (AMT) results. In addition, you must pay attention to special rules that apply to so-called disqualifying dispositions of Read more…
The Setting Every Community Up for Retirement Enhancement (SECURE) Act changed the landscape for retirement and savings planning. Here are eight important reminders about this new law: You can’t use contributions made in 2020 but applied to 2019 for any SECURE Act provisions that apply to contributions made after December Read more…
Everybody jokes about “keeping up with the Jones’” when it comes to the call of buying things for the sake of buying them – and going into deep debt for the sake of appearance – but why? We’ve all got somebody we look up to and try to emulate, but Read more…
And the adventure continues! I’ve been sharing some ideas about how entrepreneurs can streamline their businesses and I hope you’ve gotten a lot of insight so far. Let’s talk about lead acquisition a little bit. Most entrepreneurs and business owners look at lead acquisition only in terms of marketing. The Read more…
If you or a well-off relative are facing the gift and estate tax, here’s a planning opportunity often overlooked: pay tuition and medical expenses for loved ones. Such payments, structured correctly, do not represent gifts. The monies spent by you on the qualified medical and tuition payments reduce your net Read more…
You or your spouse may have the opportunity to obtain non-qualified stock options. Or you may have your corporation issue non-qualified stock options to its employees and independent contractors. In both cases, you will want to know how these options work. When you exercise a non-qualified stock option, the bargain Read more…
A few weeks ago, I had a conversation with a client who was exploring the various options for using the equity in his home as a way to pay down some other debts. He and his wife had done their research for sure, and they had settled on the Home Read more…