Hiring Your Children for Tax Benefits: What You Need to Know

By |2021-12-17T13:53:52-06:00November 1st, 2021|Better Guidance|

As a business owner, you likely have two primary goals for your work: make as much money as possible and do anything possible to lower your tax bill. However, many small business owners miss one key deduction right in front of them: their children. Many business owners are unaware there is a tax strategy where they [...]

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How Can I Save Money on Taxes?

By |2022-02-25T13:07:29-06:00July 29th, 2021|Better Guidance|

Saving money on taxes might be the most common question that a business owner has for their tax professional. But really, as a business owner, you should be asking how you can make the most of the current tax code, as it is written, and ensure your maximum refund. Unfortunately, most business owners are so busy [...]

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Why Do I Have to Pay Income Taxes?

By |2022-03-04T14:13:28-06:00December 30th, 2020|Better Guidance|

Why do I have to pay taxes?  Such a small, interesting question that opens the door for a barrage of follow-up.  What are taxes? How are they used? Do we need those things?  Are there better ways to pay for them?  If you know the answers to these questions, then you might have a bright future [...]

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Side Hustles: Understanding the Tax Effects of Earning Extra Income

By |2022-05-18T09:25:10-05:00December 30th, 2020|Better Guidance|

It is not uncommon to hear about individuals with "side hustles" or secondary income sources.  Almost half of working Americans have a gig outside their primary job with the average side hustle bringing in $1,100 a month. While many people are quick to jump on the opportunity to earn more money, just as many fail to properly [...]

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What COVID-19 means for your IRS Payments

By |2022-03-04T15:48:16-06:00September 4th, 2020|Better Guidance|

You know when you go on vacation or are over the road for extended periods, and you come home, and the mailbox is SO full you can barely open it. Well, with the global pandemic going on with COVID -19, the IRS has tons of mail. No, they weren’t on vacation, but due to the pandemic, [...]

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Better Guidance for Business Building Depreciation Benefits

By |2022-03-04T14:47:38-06:00August 28th, 2020|Better Guidance|

Got assets and need cash? As a Senior Analyst for Abacus CPAs, I have seen this all too often. Business owners, like you, get the short end of the deal. You spend a ton of money to build, buy, and add on to facilities for your business and at the end of the year, you still [...]

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