Someone asked in one of my videos:
A popular luxury watch dealer has been paying his employees by way of paying for the rent for their beach front apartment, and other things like leasing a Corvette for the videographer to use. Is this legal? Can you comment on that from a tax point of view?
It...
I’ve been preparing taxes, on my own, for the past, at least 7 years. In this video, I wanted to share the biggest takeaways for anyone looking to get into taxes or the accounting field or someone looking to improve their business operations.
Since starting on my own, I have to say that this was...
Someone asked me a very interesting question.
My channel is on Las Vegas travel. My tax person is telling me that I can only write off 50% of meals and entertainment while in vegas. It seems to me like that rule is meant if you are having a "business meeting." In the case of a vlogger, the meals...
As a tax professional for many years, my advice is to always file your tax returns. I know that seems obvious. But sometimes life happens and we find ourselves falling behind with lots of important stuff especially filing your taxes.
In this blog post, I’ll share a story about a friend of mine, ...
I want to clear up some confusion and misconceptions that go along with filing a tax extension. This information applies to individuals, sole proprietors, single member LLCs, and side hustle business owners.
The reality is, when someone hears that their tax professional insists on filing an exte...
So, I’m an Accountant; a number cruncher, tax man, bean counter. Take your pick. The proverbial guy who looks at his own shoes when he’s talking to someone. Seriously, there are old accountants who do just this.
As a profession, accounting can be both rewarding and challenging, and it's importan...
Today I wanted to talk about Solar energy tax credits. The problem is - solar energy tax credit sales people and promoters don’t always give correct information regarding the tax credits available for buying solar panels for your home.
This may or may not surprise you. Yes, there are generous ta...
A question that comes up quite frequently is, what should you do if you can’t pay your taxes or if you can’t pay your taxes on time? It’s a great question, it’s actually a common question, and whatever you do, don’t panic.
In this article, I’ll share some ideas on what to do along with minimizin...
Tax laws are complicated, but the most common tax return errors are surprisingly - simple things that I want to help you avoid.
In this blog post, I’ll cover the top 10 common tax filing mistakes according to the IRS. That can cost YOU, the taxpayer, valuable time and precious money.
Stay until...
If you have a small business side hustle, you likely have questions on how to file taxes for your small business side hustle. Filing taxes as a side hustle small business owner can be complex, but it is an important responsibility to ensure compliance with tax laws and to benefit from any potenti...
Companies like Ebay, Paypal, Venmo, CashApp, and many others are still sending IRS form 1099-K for transactions over $600 even though the IRS issued guidance in December that the new IRS 1099-K rules were postponed for one year.
I’m hearing many reports that these companies and payment settlemen...
The Balance Sheet is arguably the most important financial statement that you need to know about. It’s my personal favorite, if there is such a thing.
While your bookkeeper or accountant is trained to read the financial statements, many small business owners are not, and that’s why I’m writing t...
