Ways to Add Growth to Your Business

More guidance came to us last week from the IRS, and this last round is pretty meaty, as it relates to the 20% deduction for “Qualified Business Income” for passthrough entities. And, as a reminder, Congress passed these tax changes,

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Ted’s Tax Saving Tips August 2018

Convert Your Personal Vehicle to Business and Deduct up to 100 Percent You probably like your personal vehicle just as it is. But wouldn’t you like it far better if it were producing tax deductions? Perhaps big deductions, immediately. And

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Weekend Business Success Tip 2018-1

It is imperative that every small business owner maintains a separate business bank account for the business. The IRS frowns on the commingling of business and personal transactions.  

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The Kind of Numbers You Should Be Looking At In Your Business

“Reality is that which, when you stop believing in it, doesn’t go away.” -Philip K. Dick It’s easy to get lazy when a business can pick the low hanging fruit available in an easy marketplace. But, that’s not always the

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S Corporations Make IRS Increased Compliance Campaign

Each year the IRS generally determines certain areas or segments their research shows is not being complied with like they would like.  They then focus on that area to increase taxpayer education as well as generally more audits to increase

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Ted’s Tax Saving Tips July 2018

How the 90-Day Mileage Log Rule Works for You  Often in an IRS audit, the examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, then you are in

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Sales Tax Earthquake

If you sell goods online, you are probably aware of the “sales tax earthquake” that rumbled forth from the highest court last week in Washington. In South Dakota v. Wayfair Inc., the court ruled that states and municipalities could now require online

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Ted’s Tax-Saving Tips – June 2018

Ted’s Tax-Saving Tips June 2018 IRS Rules for Deducting Your Business Gym If you have been thinking about the fitness of your employees and the possibility of a gym or other athletic facility, then you need to know the tax rules.

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Keep Moving – How to be in the Top 20% of Businesses

Albert Einstein said, “Life is like riding a bicycle.  To keep your balance, you must keep moving.” I am sure most of you have all heard of the Pareto 80/20 rule.  Maybe 80% of your sales come from 20% of

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Breaking Social Security News! Insolvent Soon!

The Problem: The Associated Press is reporting that the Trustees of the Social Security and Medicare program have released a report warning that Medicare will become insolvent three years sooner than projected earlier – in 2026 and Social Security will

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