Author: Ted Smith

Introducing the Ted Smith CPA tax prep app!  Now you can do your taxes simply by downloading the app, answering a few questions and taking some pictures of your tax documents.  Simple as that and then a CPA tax professional …

Tax Preparation App Read More »

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Imagine this: you didn’t issue Form 1099s to your contractors.  Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue the Form 1099s. Is this correct? No. IRS auditors often …

Not filing your 1099’s could result in loss of the deduction! Read More »

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Ted Smith’s“Real World” Business Strategy Pricing Properly “You are a product of your environment. So choose the environment that will best develop you toward your objective. Analyze your life in terms of its environment. Are the things around you helping …

Pricing: One Strong Year-End Move For Your Business Read More »

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The law requires the IRS to utilize private collection agencies for certain inactive debt.  What does this mean if you are one that gets contacted by a collection agency?  How to you know you are not being scammed?  Those answers …

Taxpayers can find answers to questions about private collection agencies on IRS.gov Read More »

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Vol 10-19 New Individual Coverage HRA Allows You to Reimburse Employees for Health Insurance The new Individual Coverage HRA (ICHRA) lets you help employees with their health care costs without fear of ACA penalties. Starting January 1, 2020, employers can …

Ted’s Tax-Saving Tips Read More »

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New IRS guidance.  Read it HERE

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Failure to use an accountable plan for your employee expense reimbursements (including yourself if you operate as a corporation) turns those improperly reimbursed expenses into taxable wages.  In other words, by failing to comply with the accountable plan rules, you …

How to Properly Reimburse Yourself and Employees for Business Expenses And keep yourself out of trouble with the IRS! Read More »

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Combine Home Sale with the 1031 Exchange You don’t often get the opportunity to even consider making a tax-saving double play. But your personal residence combined with a desire for a rental property can provide just such an opportunity. The …

Ted’s Tax Saving Tips Vol 19-6 Read More »

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  “Individual commitment to a group effort – that is what makes a team work, a company work, a society work, a civilization work.” -Vince Lombardi WARNING: What I’m about to share might make you salty. The topic is state …

Our States, Their Sales and Your SALT Read More »

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Ted Smith’s“Real World” Personal Strategy Note “Having a child is like getting a tattoo … on your face. You better be committed.” -Elizabeth Gilbert Because raising children truly does “take a village”, know that I’d love to help walk you …

Making Children Less Costly (Through Smart Tax Savings) Read More »

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