#accounting

Reporting Foreign Income on Your Taxes

When I first started filing tax returns, I barely had to worry about foreign income reporting. The most common thing I would see was...

Why an LLC doesn’t actually save you tax dollars?

What?! You mean all those tax TikTok influencers are wrong? Everything you read on the internet isn’t actually true? Yes, that’s exactly...

Identifying eligible deductions for individuals

Obviously, I can’t identify EVERY deduction available in one blog post. What you are allowed to deduct on your tax return is dependent...

What is Form 1099-NEC?

My clients always wonder why I stress so much about getting the information I need to file their 1099s and it’s because the penalties for...

Does my child need to file a tax return?

For children who are claimed as dependents for child tax credit purposes, knowing whether or not they need to file a return if they have...

Do you REALLY need a CPA?

A lot of changes are happening in 2024 and, as a result, I’ve been cutting back some on the tax preparation side of the business. After...

Common-Law Worker Classification: Employee vs Independent Contractor

Probably one of the biggest issues I argue with clients about is whether or not they should pay their hired labor as an employee or an...

HB 5 Legislation and What It Means to Your Business

Earlier this year, the Kentucky legislature passed HB 5 allowing pass-through entities to file an election to pay state taxes at the...

What you need to know about charitable giving going into the giving season?

It’s no secret amongst non-profits that the holiday season is prime time for asking for donations. During the holidays, people feel a...

What is Tax Planning?

In October, I flew out to San Diego to attend an in person 3-day training to become a Certified Tax Coach. This is the first step to...

FinCEN: The Compliance Requirement Almost No One Has Heard About

What is FinCEN? In an effort to combat money laundering, financing of terrorism, and other illegal activities, on January 1, 2021,...

Mindfulness and Looking Forward

Recently, I have been working through a business coaching session and they asked the question: what are looking forward to the most? For...

Outsourcing for Success

This may come as a surprise to most people, but most accountants do not know how to promote their services. We don’t know the first thing...

How Retirement Accounts Can Be an Important Factor in Tax Planning

The first rule of retirement planning is: it’s never too early to plan for retirement. One crucial aspect of this planning is...

What does “success” mean to you?

Recently I started a business coaching program and in the introductory call they asked the question: What does “success” mean to you? I...

Choosing a Reputable Tax Preparer

For many individuals and businesses, tax season can be a stressful time. As your tax situation becomes more complex, it's often wise to...

What is Tax Evasion?

The terms tax evasion and tax fraud have frequented the headlines and are used interchangeably but are never fully defined. Tax evasion...

The mystery of estimated tax payments

Probably the questions I get the most revolve around the issue of estimated tax payments. For many self-employed taxpayers, the process...

We’re Going Through Changes…

What’s the phrase? If you’re not changing, you’re probably dead. It’s amazing to think about how much my life has changed in the last...