Educating Business Owners about Tax Deductions.
“Ignite Success” with Lisa Goldenthal from High-Performance Coaching for Executives
Each week on "Ignite Success," we talk to community leaders who are out to make a positive impact in the area. Today, our host Wendy Barlin talks with Lisa Goldenthal from High-Performance Coaching for Executives. To learn more, check out...
“Ignite Success” with Steve Kidd from Thriving Best Sellers, LLC
Each week on "Ignite Success," we talk to community leaders who are out to make a positive impact in the area. Today, our host Wendy Barlin talks with Steve Kidd from Thriving Best Sellers, LLC. To learn more, check out https://thrivingbestsellers.com.
“Ignite Success” with Jared Rosen from DreamSculpt Books and Media
Each week on "Ignite Success," we talk to community leaders who are out to make a positive impact in the area. Today, our host Wendy Barlin talks with Jared Rosen from DreamSculpt Books and Media. To learn more, check out https://dreamsculpt.com.
NEW – $10,000 of Student Loan Debt to be Forgiven
By now you have likely seen the latest information coming from President Joe Biden himself. Yes, $10,000 of Federal student loans will be forgiven if you qualify. The rules and details are yet to be released and as soon as we have them, I will publish here, via my...
Looking for ways to keep the A Players on your Team?
Yes, we are all looking for ways to keep our A Players! One of my favorite strategies is to offer up to $5,250 of education assistance to my team members. This is a nice tax deduction for my business and is not taxable to my team members. Feels like "free money" to my...
Will the IRS target small businesses for audit?
The Inflation Reduction Act is approved and with that, nearly $80 billion in IRS funding, with $45.6 billion for "enforcement," raising questions about who may be targeted by future audits. What are your thoughts? IRS Commissioner Charles Rettig said the resources...
S Corp Owners must PAY themselves a Salary
S Corporations are ever popular as a tax vehicle for businesses to minimize paying Social Security and Medicare tax as well as avoid the possibility of double taxation with a C Corporation. S Corporations however, MUST pay "reasonable compensation" to a...
Tax credits for Electric Vehicles in the NEW Inflation Reduction Act
Wanting an electric vehicle? Needing an electric vehicle? No doubt with the ongoing rollercoaster pricing of gas, we are all considering life with an electric vehicle! Yes, there will be MORE tax credits available for electric vehicles purchased and put in use after...
Do you need a Coach or a Consultant?
There is so much confusion in the market place about the difference between a coach and a consultant. In my experience, a coach is someone who motivates you, holds you accountable and guides you to being the best business owner you can be whereas a consultant,...
Depositing cash into your own business is NOT taxable income
When you loan deposit cash into your business that is your own money, much like a loan, it is not taxable. Only EARNED income is taxable. This is an important destinction to understand. Similarly, taking cash out of your business for your own personal needs or...