Accounting Tips for Entrepreneurs

This podcast explains options for individuals that either cannot file their returns or pay their balance in full by the April 15th deadline. Topics covered include extensions and payments options available.

With the divorce rate being approximately fifty percent many individuals have to deal with tax implications upon divorce. This episode examines the treatment of alimony, child support payments sand filing status options updated for the the Tac cuts and jobs act.

There may be a time when a business owner would like to elect to change their business entity for it’s current tax structure to that of an S corporation. In this episode I discuss how to do this timely and what to do if you cannot file timely.

This episode addresses the provisions of the new tax law that most commonly affect businesses. I cover the reduced corporate tax rate, changes in depreciation, the new 20% deduction on qualifying ed business income and more.

This episode addresses the provisions of the new tax law that most commonly affect individual taxpayers. I cover the unintended consequence of relying on tax tables for withholding as well as personal exemptions, the child tax credit, the state and local income tax deduction and miscellaneous itemized deductions.

The Tax Cuts and Jobs Act has many provisions that when used properly can save small businesses money. None, in my opinion, is better than the 20% deduction for Pass-Thru Entities.

By far the biggest surprise that small business owners and entrepreneurs run into when they first make money is Self-Employment Tax. While most people understand they must pay Federal and State taxes on their self/employed income few realize, until it happens to them the first time, that self-employment tax will cost them approximately 14% of their earnings.

Small business owners, entrepreneurs and Network Marketers have the ability to save thousands of dollars by using the appropriate retirement plan for their needs. This episode compares and contrasts some of the more commonly used retirement vehicles.