Archives
(Replay) Implementing The Profit First System
February 17, 2023Pros and Cons of a Delaware Statutory Trust
February 15, 2023
Last week, we talked about the tax advantages of Section 1031 exchanges. You can sell qualified assets like real estate and avoid taxation by purchasing like-kind property. Your heirs can also benefit from 1031 exchanges if the new property is… Read Now >>
Tax Advantages of a Section 1031 Exchange
February 8, 2023
It’s no secret that Section 1031 exchanges offer a great wealth-building solution for real estate investors. It allows you to make a like-kind exchange of properties with tax-deferred advantages. Tax Advantages of 1031 Exchanges You will be able to avoid… Read Now >>
Are Airbnb Owners Subject to the Self-Employment Tax?
February 1, 2023
If you earn rental income from an Airbnb or other type of short-term rental service, you may be subject to self-employment taxes. The extent of your tax liabilities may depend on your legal business structure and how much you earned… Read Now >>
Business Profitability: Should You Put Profit Before Growth?
January 25, 2023
Many business owners are focused on the importance of growth. They want to increase sales, have more employees and bring in more overall revenue. This sounds like a great idea. Unfortunately, business growth sometimes comes at the expense of profitability.… Read Now >>
Business Profitability: Advantages and Disadvantages of the Profit First Method
January 18, 2023
Many entrepreneurs have adopted the Profit First method in recent years. This approach developed by Mike Michalowicz has been of the hottest trends in business accounting. Be sure to read our first two articles in this series for more insight… Read Now >>
Business Profitability: Profit First Accounting Tips
January 11, 2023
Last week, we discussed the basics of Mike Michalowicz’s Profit First method. It is a way to rethink how you manage business income and expenses. When done right, it can help you ensure a certain amount of profitability and better… Read Now >>
Business Profitability: Applying the Profit First Method
January 6, 2023
Obviously, the goal of any business owner in 2023 is to make more profit. It’s one thing to have that overall goal. It’s another to actually achieve it. Nobody ever said running a business was easy, let alone reaching your… Read Now >>
Happy New Year from Illumination Wealth!
December 28, 2022
We hope everyone is having a wonderful holiday season and is ready to bring in the New Year this weekend. It’s amazing to believe 2023 is already here, but we can’t wait for everything it has in store. Thank You… Read Now >>
Year-End Tax Planning: Family Tax Strategies
December 21, 2022
Are you planning to get married or divorced soon? Do you give money to family or friends? Do you pay your children to work for your business? If you answered “yes” to any or all of these questions, you will… Read Now >>
