restaurant table, representing tax deductions for business meals and entertainment

Featured post:

How to Maximize Tax Deductions from Your Meals and Entertainment

There have always been many questions surrounding tax deductions for business meals and entertainment. The past two years had very generous tax deductions thanks to President Biden’s Consolidated Appropriations Act of 2023. Businesses were able to deduct 100% of business-related… Read Now >>

Get Ready to Say Goodbye to 100% Bonus Depreciation

October 26, 2022
Small business bonus depreciation tax concept

One of the best business tax deductions of all time will end on December 31, 2022. It’s time to say goodbye to 100% bonus depreciation. This is sad news for many business owners, and it makes tax and expense planning… Read Now >>

The New Clean Vehicle Tax Credit—Good News and Bad News

October 19, 2022
EV car, representing clean vehicle tax credit

Are you in the market to buy an electric or plug-in hybrid vehicle? One of the most tempting reasons to go EV or PZEV is because you can qualify for a federal tax credit (and some state benefits here in… Read Now >>

How to Defer Capital Gains Taxes on Investment Property Sales

October 12, 2022
Hand holding key in sky, capital gains taxes and real estate investment concept

If you recently sold commercial property or a rental property—or if you are planning to sell in the near future—you will want to minimize your capital gains taxes. There are a couple ways to avoid paying these taxes immediately: Defer… Read Now >>

The 10 Best Sources of Tax-Free Income

October 5, 2022
Real Estate Investment - Tax-Free Income concept

Tax-free income? It almost sounds too good to be true. However, there are numerous sources of tax-free income if you really study the Internal Revenue Code. Here are some of the best ways of generating income that is essentially tax-free… Read Now >>

The Benefits of Investing in Series I Bonds During Inflation

September 28, 2022
Financial growth chart, Series I bond concept

There are obviously a lot of drawbacks with inflation. It can be a tough time for investors when expenses go up and the value of the dollar essentially goes down. One method the U.S. Treasury Department is battling inflation is… Read Now >>

Does Your State Offer a PTE Tax Election?

September 21, 2022
PTE tax election concept. People sitting on stacks of coins

Recently, we posted an article about pass-through entity (PTE) taxes and how you can use your business entity structure to maximize tax deductions and minimize your business and personal income tax liabilities. Click here to read the full article. States… Read Now >>

Should You Consider a Spousal IRA?

September 14, 2022
Married couple holding hands - spousal IRA concept

Whether you’ve joined the Great Resignation or are just a stay-at-home spouse with no tax-defined income, you can still set up and contribute to a retirement account. Traditional and Roth IRAs offer excellent tax-advantaged savings opportunities as you prepare for… Read Now >>

Understanding Your State’s PTE Tax Rules

September 7, 2022
Binoculars, pass-through entity metaphor for PTE tax laws

The Tax Cuts and Jobs Act (TCJA) brought many significant tax law changes. Some were very beneficial to certain individuals and business owners. Other new tax rules were a bit more controversial. Perhaps the least popular change brought by the… Read Now >>

The Four Forces of Cash Flow for a Business Owner

August 24, 2022
Money flying out of wallet, forces of cash flow concept

One of the best books that business owners should read is “Simple Numbers, Straight Talk, Big Profits!” by Greg Crabtree, CPA. In the book, he outlines the Four Forces of Cash Flow. This is a great cash flow model that… Read Now >>

A Tax-Deductible Cruise to Mexico for a Business Meeting?

August 17, 2022
Cruise ship for travel to Mexico for business meeting

If you are doing business in Mexico or planning a business meeting down there, one creative method of transportation is taking a cruise. It can be a fun and relaxing way to make your way down south while also offering… Read Now >>