The personal and business life of a tax strategist to the rich, business builder, owner, writer, social entrepreneur.
Earlier this month, the IRS sent out over 21,000 letters to tax preparers reminding them of the penalties for tax return fraud. The letters were right on the borderline of being threatening. Now we’re learning that the IRS is planning to follow up with visits to 10% of those tax preparers. And ...
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I’m not a fan of Schedule C (Sole Proprietorship) businesses for 3 big reasons:
They will cost you more in tax.
They put everything you own at risk.
They are more subject to audit.
And I know there are 2 reasons why people will probably always continue to use them:
Schedule Cs are way easier then ...
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The following blog is an except from Marco Carbajo – www.nationalentrepreneurclub.com During the early stages of starting and operating your business, you may have become accustomed to using personal credit cards to finance purchased, equipment, and …
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. Embezzlers are often just taking advantage of the easiest possible way to get money. And …
The following is an excerpt from the book Smart Business, Stupid Business, written by Diane Kennedy of US TaxAid and Megan Hughes of Smart Business Incorporation. Look For Gaps in Check Number Sequence Make sure checks stay in numerical order. Look for…
