Should You Turn Down a Raise?
“I don’t want to make more money because I’ll end up in a higher tax bracket and lose more to taxes!” This is a common
August 8, 2025
“I don’t want to make more money because I’ll end up in a higher tax bracket and lose more to taxes!” This is a common
A massive tax refund feels great—until you realize what it actually means. You overpaid your taxes all year, and now the IRS is just giving
I posted recently about the benefits as a business owner of hiring your kids to work in your business. When I speak with clients about
️I recently had the honor of being featured on the “Financial Freedom & Wealth Trailblazers” podcast with Leah Rae Getts! We talked about how I
Hiring your children in your business doesn’t just keep them busy & teach them life skills, it is a great tax strategy. Some of the
Following up on my prior post about S-Elections, I wanted to expand on the concept of “reasonable compensation.” After all, if S-Corp owners only have
The s-election gets a lot of buzz online, but will it save you taxes? So, when you start a business by yourself (or a single-member
An NOL (Net Operating Loss) is just a tax term for when your business losses money in a year. While losses are never fun, the
If you recently purchased, or built, a building, a cost seg may unlock massive tax deductions for you.A cost segregation study (“cost seg” for short)
When fire, flooding, or a break-in wipes out your stuff, the IRS may let you write off some of the loss. The IRS defines a
If you have employees who have been affected by disasters such as hurricanes, tornadoes, floods or wildfires, you may be able to help them financially
Under IRC §127, employers can cover up to $5,250 per employee each year for education expenses — completely tax-free to the employee and fully deductible
Under current tax rules, employers can offer up to $50,000 of group term life insurance to their employees. This is a win because:✅ Tax deductible
Like Section 179, Bonus Depreciation also helps you write off more of the cost of assets then just regular depreciation would. But there are some
Under IRC §179, you can immediately expense (i.e. write-off) up to $1,2MM of qualifying business property—no waiting to depreciate it over numerous years. It’s extremely helpful
Under IRC §195, new business owners can elect to deduct up to $5,000 in startup expenses—before your business even opens its doors. Here’s how it
The Credit for Other Dependents (up to $500 per person) isn’t just for children. You can also claim qualifying relatives who meet all tests:• Relationship
Just about everyone is a fan of the Child Tax Credit, and under the current proposed version of the “One Big Beautiful Bill” that’s with