“Your Retirement Plan Exposes Youto a $150,000 Penalty” To get my complete article with all the details… Are You Exposed to a $150,000 IRS Penalty? If you have a solo 401(k) or similar retirement plan, you must read this. Many business owners don’t realize that the IRS requires at least one filing of Form 5500-EZ for one-participant retirement plans—including solo … [Read more...]
Do You Use a Corporate-Owned Vehicle for Both Business and Personal Use?
“Turn Your Corporate Vehicleinto a Tax-Smart Asset” To get my complete article with all the details… Do You Use a Corporate-Owned Vehicle for Both Business and Personal Use? If your answer is yes—and your business is structured as an S corp or C corp—then you may be sitting on a tax opportunity… or liability. Corporate Vehicle = Tax-Smart Asset You likely know … [Read more...]
Don’t Let a Mistake on Your 1099-NEC Trigger an IRS Audit
"Year-End 1099-NECs Are Often Wrong—And How to Correct Them" To get my complete article with all the details… If your Form 1099-NEC overstates your income, you could end up paying more in taxes than you owe—and worse, you might attract unwanted IRS attention. In our latest newsletter article, you’ll discover: Real Example Inside A self-employed engineer … [Read more...]
You Might Be Sitting on a $12,000+ Deduction and Not Even Know It
“Vehicle Used for BusinessCan Produce a Big Surprise Deduction” To get my complete article with all the details… If you use your personal vehicle for business—whether you're a sole proprietor or operate through a corporation—you may be eligible for a significant, unexpected tax deduction. Here’s the surprise: The IRS standard mileage rate includes an embedded … [Read more...]
One Tax Form Landlords Ignore—That Could Cost Thousands
"Why Landlords Should FileForm 1099-NEC" To get my complete article with all the details… If you're a landlord, there’s a good chance you’re not filing Form 1099-NEC for service providers like plumbers or handymen—and on the surface, it may seem like you’re in the clear. But here’s the hard truth: skipping that one simple form could completely disqualify you from … [Read more...]