How to Beat the IRS (Legally!) on Meals and Entertainment Write-Offs

If you’re a real estate agent, or small business owner, or self-employed contractor, you may be missing a powerful tax deduction because your accountant is too conservative.   Too conservative to take meals and entertainment write-offs that are totally legal and 100% compliant with the rules outlined in the IRS code.   Here’s the basic rule. […]

What business expenses are deductible, and what’s not?

Knowing what expenses you can write-off in your small business can make a huge difference on your tax bill. Whether you’re a real estate agent, freelancer, retail shop owner, or work-from-home mom–it pays to know what business expenses are deductible, and what’s not. Owning a small business is what I call the “#1 tax shelter for the little guy”. […]

The #1 Strategy to Save $5,000 or more in Self Employment tax

If you own a small business, you probably operate either as a sole proprietor, or Single Member LLC. 85% of businesses do. But neither is the best way to structure your business if you’re looking to save on Self Employment tax. What’s Self employment tax? It’s just a fancy name for the medicare and social security […]