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Paypal Changes You Should Know About

Published on July 07, 2021
If you’re selling stuff online and using payment processing services, like PayPal or eBay, to collect money, get ready for upcoming changes. The IRS now wants to know if your Paypal or Ebay sales exceed $600 a year.  Starting 2022, the federal threshold for issuing 1099-K will drop to $600 with no minimum transaction level, […]
Paypal Changes You Should Know About

Should I Make An S Corporation Election?

Published on June 24, 2021
Choosing the right business type is important to the success of your business. The business structure you choose influences everything from day-to-day operations, to taxes, to your ability to raise money, and to how much of your personal assets are at risk.   Whether you are just starting your business, or have been operating as a […]
Should I Make An S Corporation Election?

Create Tax Deductions on Your Vacation Home

Published on June 09, 2021
Do you own a vacation home? If yes, did you know that you might be able to deduct a number of vacation home expenses on your business tax return?  Business-Lodging Exemption If your business uses your vacation home or condo exclusively for business lodging purposes, you elude the vacation-home rules and allow you to deduct […]
Create Tax Deductions on Your Vacation Home

2021 Self-Employment Tax Planning

Published on June 03, 2021
If you are self-employed, I am sure you were surprised by your federal tax bill at least once during your self-employment career! I cannot tell you how many times I had to explain to my new self-employed clients why they had a huge federal tax bill even though net profit from the business was modest. […]
2021 Self-Employment Tax Planning

How to Deduct 100% of Your Business Meal

Published on May 26, 2021
Did you know that you can now deduct 100% of the meals incurred for business purposes?  In an effort to assist this industry, the Consolidated Appropriations Act of 2021 introduced a 100% business meal deduction. This temporarily increases the deduction of expenses that are paid or incurred for food or beverages provided by a restaurant […]
How to Deduct 100% of Your Business Meal
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