There are two customers in every transaction.
Your CPA chooses clients too. Here's how to be one they go to bat for.
From Lesson 8
Library
Brain Bites
One idea. Two minutes. Always sourced. Every tax claim links to the IRS or the Code.
Track net worth, not just income.
Make a million and spend a million, and you're still broke. The one number worth checking every month.
From Lesson 2
The Augusta Rule only works if you can prove it.
Rent your home to your business for 14 days or fewer a year and that rent can be tax-free to you. The paperwork is the whole game.
Source: IRC §280A(g)
What should I ask my CPA before year-end?
December is too late for most planning. Here's the short list for October.
From Lesson 7
Familiar is not the same as know.
Most tax 'hacks' live at the familiar level. Take advice from people who've done the thing.
From Lesson 6
Should my LLC elect S-corp status?
It depends on three numbers, not on what a podcast said.
Source: IRS: S corporation compensation and medical insurance issues