Hire Your Children and Save a Bundle on Taxes

If your children go to private school, is their tuition tax deductible? The answer is no. If your teenager goes to summer camp, would the cost be deductible? Again, the answer is no. If you were to pay for your daughter’s college or wedding expenses, would you be able to write-off these costs on your […]

Three Steps To Take So You Won’t Miss Out on Meals and Entertainment Deductions

Real estate agents and self-employed individuals miss out on thousands of dollars in meals and entertainment deductions because their record-keeping has holes in it, or their accountant is too conservative and hesitates to take legitimate deductions. Here’s three simple steps to take to maximize your legal deductions in this area. 1. Respect the IRS–don’t fear […]

Three Key Questions To Ask When You Select a Tax Accountant

Are you satisfied with the taxes you’re paying? Confident you’re taking every possible deduction on your tax return? If your answer is ‘no’, it may be time to select a new tax preparer. Here’s 3 key questions to ask in choosing your next accountant. 1. What kinds of clients do you work with? You’ll benefit […]

LLC business structure

Here’s 3 Reasons Why Most Attorneys are So Quick to Recommend Limited Liability Company (LLC) Entity Structure

Most attorneys recommend a Limited Liability Company (LLC) business structure to their clients because: LLCs are relatively simple for you to operate, especially compared to all the red tape involved with operating as a corporation An LLC significantly limits your legal liability and protects your personal assets from business clients, prospects, and the public at […]

Do you need to make Quarterly Estimated Tax Payments?

Do you need to make Quarterly Estimated Tax Payments? Here’s the What, Who, When, Why and How What is Estimated Tax? It’s the method used to pay tax on income that is not subject to withholding. W-2 income has taxes withheld. On the other hand, 1099 income typically has no tax withholding. Neither does rental income, […]


The 80/20 Rule: The Secret to Achieving More with Less

Somewhere in school or on the internet you came across an idea known as “The 80/20 Rule”. The basic concept is that 80% of what you achieve comes from 20% of the time spent. Thus for practical purposes, 80% of the effort put into anything is largely irrelevant. If you want to dramatically raise your efficiency, or […]

Pre-tax dollars and After-tax dollars. Which is better?

Ultimately, there are two kinds of dollars in this world. Pre-tax dollars, and after-tax dollars. Pre-tax dollars are great. And after-tax dollars aren’t bad. But they’re not as good as pre-tax  dollars. In fact, you lose every time you spend after-tax dollars . . . that could have been pre-tax dollars. (Huh? What?…) Let’s take a […]