Business Entity Basics

Business Entity Basics

Whether you are moonlighting, part timing, freelancing or going all in with a  full-time gig. If you provide goods or services in exchange for currency you are in fact, operating a business. When starting your own business there are some basic things you need to know...
The Accidental Partnership

The Accidental Partnership

A Partnership can be advantageous when set up and executed properly. However, they can also be setup accidentally and this can be stressful and harmful to a new business. I have seen this too many times in my career. Two people (we will call them partner A &...
1099-MISC (The Good, The Bad, The Penalties)

1099-MISC (The Good, The Bad, The Penalties)

If are self-employed or own a small business, chances are you have seen a 1099-Misc form. There is a great deal confusion surrounding this funny little tax form. The Nitty Gritty I have seen many clients who do not realize that indeed, they are required to track...
Holiday Party Deduction

Holiday Party Deduction

Soon it will be the most wonderful time of the year. Hosting a holiday party is a great way to boost holiday spirit and employee morale. It’s even better when you can deduct the cost of the celebration. How can I deduct 100% of the cost? You read that right, you can...
The Mystical Home Office Deduction

The Mystical Home Office Deduction

Who can take this deduction? Self-Employed or Small business owners who meet the following two rules: You must use the space exclusively and on a regular basis to conduct business. You must use the space as your principle place of business. Employees who meet the two...