Blog

Let’s talk about Biden’s proposed tax policies and how they will affect the individual taxpayer. There are ten key proposed changes that I want to discuss.  Keep in mind these are all just proposals, Biden is not even president yet, and these have to pass through Congress for them to... Read More →

 Section 179 Depreciation Deduction – and More About Cars The Section 179 depreciation deduction for small businesses is a section in the internal revenue code that basically allows small business owners to accelerate their depreciation of fixed assets.  This is specifically for small businesses because there are limitations on... Read More →

The question is whether you should be buying a vehicle and putting it under your name personally or under your business name. There is a misconception that if you own a business and you buy a vehicle under your business name that you can then “write off’ the vehicle on... Read More →

There are several types of penalties that the IRS can assess. The penalties are assessed at different rates and are set for different time periods. Getting those penalties waived can save hundreds and possibly thousands of dollars. You can even get your penalty waived from a previous year. Tracking of... Read More →

If you are simply “testing the waters” on a new business idea to see if it is something you want to pursue more seriously, then you likely do not need to form an LLC. For example, a lawn care business where you are mowing a few of your neighbors’ yards... Read More →

Big Update! Paycheck Protection Program Rapid progress is being made in the passage of the Paycheck Protection Program Flexibility Act. The bill was introduced in the House on May 15, 2020. It was just signed into law on June 5, 2020. PPP Flexibility Act What exactly does the PPP Flexibility... Read More →