Looking to make a few tax moves before the year is over? See if these apply to your situation. Review Your Entity Structure How is your entity structured? It is a sole proprietorship, LLC, s-corp, or c-corp. Now is the time to review it to make sure you are using the correct entity to protect […]
Employees
What’s Worse Than Talking Politics at the Thanksgiving Table?
We all know it can get heated when we talk about politics at dinner, especially on Thanksgiving. There is one more topic that is even worse to speak about if you are an entrepreneur. Background Approximately 10% of adults in the U.S. own a business. This means that when you are in a room with […]
3 Ways to Get More Done
Ever feel like you just can’t get anything completed and there’s a lot of unfinished work outstanding? There are 3 simple tactics you can implement right now to get more done. Start It sounds surprisingly simple, but one of the most effective actions you can take is to get started. The reason is because many […]
Is Your Occupation on the Qualified Tips List?
The One Big Beautiful Bill Act required the IRS to list qualified occupations that can exclude up to $25,000 of tips from their income. See if you’re on the preliminary list: Food and Beverage Entertainment and Events Hospitality and Guest Services Home Services Personal Services Personal Appearance and Wellness Recreation and Instruction Transportation and Delivery […]
1099 Reporting Changes
The One Big Beautiful Bill Act changed reporting thresholds for 1099 reporting as follows: 1099-NEC & 1099-MISC The threshold changed from $600 to $2,000 for payments made after December 31, 2025. This amount will be indexed for inflation thereafter. 1099-K The 1099-K reporting threshold has been increased from $600 to $20,000 and more than 200 […]
You’re Not Delegating Properly
Although delegating is a buzz word, don’t make these mistakes when doing so. Simplify Your Processes Review your workflow and processes to simplify them. If you are the only one capable of performing a simple, routine task because you overcomplicated the process, then simplify it. Start with writing down each step, make sure each step […]
Better Meals Deduction
Unfortunately, business meals are only 50% deductible for tax purposes. However, there are two ways your business meals can be 100% deductible, according to the IRS. Recreational Expenses for Employees Normally meals are 50% deductible and entertainment is not deductible at all. But if the meals are for recreational, social, or similar activities for your […]
Help Your Employees Succeed
Do you want your employees to be successful in their position? Here are several ways to do so. Proper Training Employees need to be properly and thoroughly trained in their position. This can be done via one-on-one training, training courses and written instructions. Depending upon the task and the position, all three ways can be […]
Business Risks You Aren’t Thinking About
I hate to be a Debbie Downer, but here are a few business risks you probably aren’t thinking about and some potential solutions to avoid them: Health Risk If you’re in your 20’s or 30’s you probably aren’t thinking about health concerns, but for those in their 40’s and above, it enters your mind more […]
5 Tips to Improve Cash Flow Immediately
Does your cash seem to be lacking even though your business is doing well? Here are 5 tips to immediately improve your cash flow: Accept Electronic Payments You’d be surprised by the number of businesses that rely on having their customers send them checks. It’s such a slow process that can take weeks or months […]