How to Set Up a Chart of Accounts for Your LLC or S-Corp
Building a business without a proper Chart of Accounts is like building a house without a blueprint. You might still get walls and a roof, but sooner or later, something…
Tax Planning for Business Owners Who Also Have Rental Properties
Most high-income business owners make the same expensive mistake.
They run their operating business in one silo, hold their rental properties in another, and let their tax return reflect that…
Do You Have Unfiled Tax Returns? Here’s What To Do
For many people, unfiled tax returns start with one hard year.
A divorce. A business collapse. A medical issue. Lost records. A move. A death in the family. One missed…
Think Tax Filing Season is Over? Why You May Need to File an Amended Return
It is May. The filing deadline is behind you. You are finally breathing again, halfway through your coffee, when you open the mail and find a corrected 1099, a late…
Recordkeeping Tips for Freelancers and Gig Workers So You Can Avoid Getting in Tax Trouble
Gig work gives you freedom, flexibility, and control. It also gives you a second job you did not ask for: bookkeeping. When you are your own boss, you are also…
Did You Know You Might Owe Taxes On Debt That’s Forgiven?
Imagine finally settling that $10,000 credit card debt for $4,000. You breathe a sigh of relief. Then January rolls around, and a strange tax form shows up in the mail.…
Do You Need A Tax Attorney if You Owe Back Taxes?
Getting an IRS collection notice can make your stomach drop fast.
The words look serious. The deadlines feel urgent. And for many taxpayers, the first reaction is immediate: “I need…