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

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

The Basics of Depreciation

  Are you thinking about buying personal property (such as a car, a computer, or other equipment) or real property (such as a building)? If

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