Our Latest Blog Posts

• Dial in Your S-Corp Strategy BEFORE Year-End
  

  When it comes to tax strategies for entrepreneurs, I am convinced that the S-Corporation (S-Corp) is one of the most powerful long-term strategies to build upon. The tax benefits, audit protection and foundation for other tax deductions are absolutely amazing in an S-Corp. Frankly, it’s because the S-Corp is so financially efficient for the small-business owner. So for those of you that are already S-Corps, this is the time of year to dial in your salary level. See my Payroll Matrix and suggestions on how to peg the perfect salary amount for your situation below. For those who haven’t quite caught the vision or potential of the S-Corp, let me make a few important points and explain some of the benefits you are missing out on. S-Corps: The Reason Why The problem we’re trying to solve is that if you sell products or services, receive a commission, flip properties or ... Read more
• Why an HSA May Be Your Best Tax AND Healthcare Strategy
  

  One of the most under utilized tax strategies by small business owners is the use of a Health Savings Account (“HSA”).  It’s a fantastic tax savings strategy as well as a powerful tool to help pay for current and future health care costs. In my opinion, everyone should at least consider the HSA as an option when purchasing insurance.

  This year in 2018, then ‘Open Enrollment’ for a 2019 health insurance plan runs from November 1, 2018 to December 15, 2018. Outside the Open Enrollment Period, you generally can enroll in a health insurance plan only if you qualify for a Special Enrollment Period.

  The reason why it’s so important to think about an HSA plan during Enrollment Period is that IF YOU DON’T choose the right plan NOW, you can’t take a deduction and contribute to an HSA in 2019. I don’t sell health insurance, but as a tax advisor i strongly encourage my clients to ... Read more