HSA Audit Warning Signs and How to Stop Them
Opening a letter from the internal revenue service is an instant headache. Usually, it’s a Notice CP2000, the standard automated letter the IRS sends when their computers think you forgot to report your hsa distributions on your tax return. These unexpected notices can be extremely stressfull, especially if you assumed your tax professional handled everything […]
Financial Advisor vs Accountant: Who Should You Hire?
If you have ever asked yourself whether you need a financial advisor vs accountant, you are not alone. Many small business owners and families think a certified public accountant and a financial advisor are the exact same thing. While their knowledge might overlap, they actually handle completely different sides of your money. Think of it […]
What Negative Balances Are Telling You: Bookkeeping Red Flags
Ask any tax pro what keeps them up at night, and they’ll tell you it’s a client handing over books riddled with negative accounts. Your bookkeeping isn’t just a chore you check off to survive your tax return. Accurate financial records track daily operations, spot trends, and measure actual cash flow. Most small business owners […]
LLC vs S Corp vs C Corp: Choosing the Right Structure
Starting a new business brings an exciting wave of decisions, especially when it comes to choosing between different business structures. If you are like most small business owners, you have probably found yourself staring down a classic LLC vs S Corp vs C Corp: Choosing the Right Strategy for Your New Business Starting a new […]
How to Use the Augusta Rule: The Corporate Rent Strategy
There is a massive tax loophole hiding right in your living room, and the IRS isn’t going out of its way to tell you about it. As entrepreneurs, we are always hunting for smart tax strategies and valuable tax deductions. The standard home office deduction is popular, but it is a known audit trigger that […]