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TopicsCrypto Deductions Family Irs Llc & S Corp Payroll Personal Taxes Real Estate Retirement Side Hustle Small Business Tax Fundamentals Tax Strategy

Working remotely on vacation doesn't make it a business trip

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Working remotely on vacation doesn't make it a business trip

Your reason for the trip matters—if it's vacation, you can't deduct it just because you worked while there.

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Why the IRS might call your business a hobby

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Why the IRS might call your business a hobby

If your business only creates losses, the IRS can reclassify it as a hobby and make you repay years of tax savings with penalties.

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What travel expenses are deductible on a business trip

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What travel expenses are deductible on a business trip

Business travel costs like mileage, hotels, meals, flights, rental cars, and even lounge memberships can be deducted from your income.

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You can deduct meals without a 30 mile rule

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You can deduct meals without a 30 mile rule

There's no IRS rule requiring meals to be 30 or 50 miles away to be deductible; just keep credit card records.

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Retirement planning depends on your business profit

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Retirement planning depends on your business profit

Different retirement accounts work for different situations based on your age, profit level, and when you want to retire.

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Why cash transactions can backfire in an IRS audit

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Why cash transactions can backfire in an IRS audit

If you pay for business expenses in cash and get audited, you won't have bank records to prove your story.

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Why cheap tax prep might cost you thousands

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Why cheap tax prep might cost you thousands

DIY software doesn't catch missed deductions like travel, meals, and other write-offs you're entitled to.

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Equipment purchases are deductible for your business

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Equipment purchases are deductible for your business

If you buy equipment for your business, you can write it off—don't let a bad preparer tell you otherwise.

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Do you have to report Venmo business income

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Do you have to report Venmo business income

Yes, business income through Venmo must be reported on your taxes.

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When switching to an S corp actually saves you money

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When switching to an S corp actually saves you money

An S corp only helps when your profits exceed the salary you need to pay yourself for things like mortgage approval.

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Business structures explained from sole prop to S corp

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Business structures explained from sole prop to S corp

Walks through sole proprietor, LLC, S corp, and partnership structures and when each applies.

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The hidden cost of doing your own business taxes

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The hidden cost of doing your own business taxes

80% of DIY business returns miss $3,000 to $5,000 in deductions that a tax pro would catch.

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You can deduct business losses before you turn a profit

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You can deduct business losses before you turn a profit

The IRS handles business income year by year, so you can claim losses now instead of waiting until you're profitable.

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How a cruise can become tax deductible

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How a cruise can become tax deductible

A cruise with business education sessions can qualify as a deductible conference expense.

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Business conference cruise you can write off

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Business conference cruise you can write off

A tax-deductible business cruise covering taxes, retirement planning, and business topics could be coming next spring.

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Your tax preparer should actually talk to you

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Your tax preparer should actually talk to you

A good tax professional reviews your return with you and catches missing deductions before filing.

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Quarterly tax payments aren't always required

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Quarterly tax payments aren't always required

Estimated payment coupons from your tax return don't mean you must pay quarterly, but business owners should review profits in fall to plan ahead.

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Being an LLC doesn't automatically save you money

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Being an LLC doesn't automatically save you money

Your tax savings depend on your specific situation, income level, and tax form used, not just your business structure.

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What services does The Real Tax Guy offer

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What services does The Real Tax Guy offer

Overview of tax strategy, return reviews, and preparation services from a 30-year tax pro.

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The difference between a DBA and an LLC

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The difference between a DBA and an LLC

DBAs and LLCs are often confused, but they serve different purposes for your business.

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How a business cruise can be tax deductible

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How a business cruise can be tax deductible

A cruise with business education sessions can be deductible because you're there to learn for your business.

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Mileage deduction rules for S corps vs sole proprietors

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Mileage deduction rules for S corps vs sole proprietors

S corps can reimburse mileage directly, but sole proprietors must exclude commuting miles from home to first stop.

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How we help business owners pay less in taxes

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How we help business owners pay less in taxes

Overview of our approach to minimizing taxes for business owners.

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How a business cruise could be tax-deductible

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How a business cruise could be tax-deductible

A cruise with business education sessions may qualify as a deductible trip if learning is the primary purpose.

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