planning

Four Silent Tax Leaks in Growing Businesses (and How to Fix Them Before Year-End)

If your business has outgrown the “scrappy startup” phase and is now firmly in the 7‑ and 8‑figure revenue range, your tax bill is probably growing faster than your confidence that it’s truly optimized. Many successful owners overpay the IRS not because they’re careless, but because their tax planning never evolved as the business did.

IRS reminds us good tax planning requires good recordkeeping

The IRS in their COVID Tax Tip 2021-89 communication reminds us that "The first step of good tax planning is good recordkeeping."  We always recommend to 1) use checks, credit cards and debit cards for your expenses, so there is no need of keeping all the bills and invoices, 2) do not commingle - separate

By |2025-01-10T01:56:47+00:00July 13th, 2021|Categories: Business|Tags: , , , , , , |
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