On June 14th-15th, the Federal Open Market Committee (FOMC) met and raised the Federal Funds Rate by .75 percentage points, yet again throwing another right hook to business owners.
The Truth About LLC Tax Havens In Wyoming
Can you set up your business in a different state to avoid paying state taxes in a high tax jurisdiction like California or New York?
The Complete Guide To Setting Up Your S-corporation
This article will show you the 5 easy steps you need to set up an S-corporation for your business, and significantly reduce your self employment taxes.
Why You Need To Setup A Holding Company Structure
Entrepreneurs can own multiple businesses in their lifetime. While you could separately own each business, you lose out on potential efficiencies. Learn more about the benefits a Holding Company Structure provides, and why you should consider implementing one.
How To Hire Your Kids With A Family Management Company in 2022
By paying your kids from your business with the right process, you might be able to save around $2,000 in taxes per child.
The 5-Step Guide To Hiring Remote Employees in 2022
In the age of remote work and a massive labor shortage, organizations all around the globe are hiring remote workers to fill the gaps within their companies. Read this guide to learn about the basic requirements to be compliant when onboarding and offboarding remote employees.
How To Invest In Real Estate Using Business Profit
This article explains the tax savings from owning real estate, why you should NOT buy rental real estate in your business, and what the ideal structure is to maximize your tax savings.
How To Report Crypto On Your Tax Return 101
Unfortunately, dealing with crypto tax is a huge headache for any investor who has put money into this. Our goal is to help educate you on the fundamental tax issues around basic crypto investing strategies surrounding buying, selling, creating, mining, and exchanging cryptocurrency.
How To File And Pay Your Taxes with Confidence.
Building a business is difficult enough, and filing and paying your taxes is a confusing process. Whether you’re a new business owner or have been operating for years, there’s always something to learn when it comes to taxes! In this article, we’ll outline the process for filing and paying your taxes, so you can feel confident and prepared when Tax day rolls around.
The Ultimate Guide To S-Corp Retirement Plans In 2022
Deferring taxes with retirement plans allows you to save on taxes and reinvest those savings and build a much larger portfolio when compared to traditional investment accounts. Knowing the most common plans will help lower your tax bill annually.
How To Maximize Your Business Vehicle Deduction In 2022
Buying a Tesla at the end of the year to lower your tax liability will probably be the worst dinner party tax advice for an unsuspecting online business owner.
How To Pay Yourself: S-Corp Salary Or Distributions?
One very confusing concept for new business owners is determining how to pay yourself from your business. This article covers the ideal breakdown between S-corp salary or distributions for business owners.
Can I Reduce My Tax By Moving My Business Offshore?
One of the most frequently asked questions I get from CleverProfits clients is if they can set up their business in a different country to avoid taxes.
How The S-corporation Saves You Thousands In Taxes Every Year
CleverProfits’ agency, coaching, and consulting clients. They retain a single layer of tax on all business profits generated while eliminating self-employment taxes for owner-operators.
How To Run Payroll For An S-Corporation In 2022
Failure to file the requisite forms and pay your payroll taxes significantly increases your exposure to an audit by the IRS and your state’s unemployment division which could result in back taxes, penalties, and interest. This is why year-end planning around your compensation is critical.
Optimize Your S-corp Payroll, Save Big on Taxes
One of the most important elements of tax planning for S-corporation owners is to consider the amount of W-2 salary paid to the owner of the business.
The Ultimate Guide to Tax Planning For Your Online Business in 2022
It’s 7:00 PM on April 15 you’ve just written a check to the Internal Revenue Service for $23,450. You’re scratching your head wondering why Uncle Sam is getting his, and if there’s anything you could’ve done to save on taxes. The scary thought is that without working with a professional on proper tax planning, you…
How to Claim The “Augusta Rule” Deduction in 2021
One of the most significant expenses a business owner will pay throughout their lifetime is taxes.
The reality is that 95% of business owners are overpaying the IRS every year without knowing it!
When you compound overpaid taxes over decades, the difference could result in you retiring an entire decade earlier.
How To Measure Your Cash Collections: The Catalyst For Growth
One of the most significant challenges we see with our clients is the inability to measure and track whether we are improving our processes and systems of collecting outstanding receipts.
How To Overcome Business Constraints Throughout a Business’ Lifecycle
As an entrepreneur, have you ever hit a ‘growth wall’? t’s puzzling, as the strategies that once worked to accelerate your business, and solve your growth obstacles are no longer effective. You’re left feeling stuck, overwhelmed, and frustrated. To understand how to conquer these growth obstacles, we need to dive into what they are and how they operate.
The Culture Conundrum for Entrepreneurs
I hate to break it to you, but we are in the business of wishy-washy. We are all serving people and trying to bring them value through our services/products, which means there are feelings and emotions involved in interactions. If we want to attract great talent, we need to serve our clients AND our teams well.
How To Make Your Quarterly Estimated Tax Payments
When you become a business owner, you must make sure you are paying taxes regularly. This is where working with an experienced CPA tax advisor can be extremely helpful in navigating a complex tax world.
Building A Competitive Base Compensation Package In 7 Steps.
Creating a well-designed and practical compensation package is one of the essential tasks for any business owner. This article explores seven steps to help you build a competitive base compensation package to ensure you attract the best talent you can afford while protecting your business by keeping it profitable.