The Corporate Account Myth
Just because money is sitting in your business bank account does not mean you can spend it however you want.
How you take money out of…
The April Tax Shock
The first year of self-employment can feel amazing.
The invoices get paid. The money hits your bank account. You spend it on rent, software, groceries, equipment,…
The 15.3% Self-Employment Tax Wall
If you run a standard sole proprietorship or single-member LLC, your business profit gets hit with self-employment tax.
For many owners, the self employment tax…
The W-2's Confusing Cousin
Receiving a Schedule K-1 for the first time can feel like getting a tax form written in another language.
Most people assume it works like a…
The IRS Stopwatch
Old tax problems have a way of sitting in the back of your mind like a ticking bomb.
Maybe you missed one filing year. Maybe you owed…
The Leaky Schedule E
Most landlords think their Schedule E is airtight because they deducted mortgage interest, property taxes, insurance, and management fees.
But here is the problem: the biggest…