CPAdmin, Author at Counting Pennies LLC

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Business Management

Sometimes you have to STOP in your tracks and PIVOT!

This thought came to me this morning as Randy and I recently changed our eating habits. In the past, we’ve worked our way up to

Business Management

Business IS Personal

I’ve often said, “It’s not personal; it’s business.” While I make some decisions in the business world that I wouldn’t personally, the reality is that

Tax-Saving Tips

Paying Your Child: W-2 or 1099?

Here’s a question I received from one of my clients: “I will hire my 15-year-old daughter to work in my single-member LLC business, and I expect

Business Taxes

Self-Employment Tax Basics

If you own an unincorporated business, you likely pay at least three different federal taxes. In addition to federal income taxes, you must pay Social

Tax-Saving Tips

New 62.5 Cents Mileage Rate

The IRS noticed that average gas prices across the United States exceeded $5.00 a gallon and took action. Small businesses that qualify to use and

Tax-Saving Tips

How to Deduct a Cruise to Mexico

You may not have thought of this but taking a cruise ship to Mexico for a business meeting is acceptable as a deductible form of

Real Estate

Transferring Your Home to Your Adult Child

With today’s home prices and the crazy real estate market, it’s likely difficult for your children to buy a home. And it’s conceivable that

Tax-Saving Tips

Self-Directed IRAs

Tax-advantaged retirement accounts such as IRAs are a great way to save for retirement. But when you establish a traditional IRA with a bank, a

Tax-Saving Tips

Is Your Sideline Activity a Business or a Hobby?

Do you have a sideline activity that you think of as a business? From this sideline activity, are you claiming tax losses on your Form

Tax-Saving Tips

Tax Credits for Schedule C Businesses (With & Without Employees)

Tax Credits for Schedule C Businesses without Employees Obtaining a tax credit is the next best thing to paying no taxes at all. The