Tax Strategy for Small Business
Our tips and tricks to get you on track
The catered lunch you buy your crew on a long install day has earned you a tax deduction for years. Starting in 2026, that same lunch may be worth nothing on your return. A tax change is coming that affects how businesses deduct meals, snacks, and food provided to employees. Some expenses that were 50%…
A lot of small business owners assume that if they’re already paying rent on an outside space, the home office deduction is off the table. That assumption is costing them money. The IRS doesn’t limit you to one place of business. What they care about is something more specific, and once you understand the rule, you may realize you’ve been leaving a legitimate…
There’s a big difference between being busy and making progress. Most business owners work hard. They answer emails at midnight, solve customer problems on weekends, and spend years trying to grow something meaningful. But hard work alone doesn’t guarantee progress. Effort needs focus in a clear direction. Goal setting is the catalyst for that focus.…
Every business owner looks for high-performing employees. They’re easy to spot. They solve problems, handle pressure, improve customer relationships. They’re the people you depend on most. Unfortunately, many businesses unintentionally punish strong performance. They give their best employees more work, more responsibility, and higher expectations without creating enough support. This inevitably leads to burnout if the cycle isn’t interrupted. Burnout isn’t driven by employee weakness…
Many business owners are surprised to learn that a basic SUV, sedan, or crossover can run into the same depreciation limits as a luxury car. Even though “luxury auto depreciation limits,” sounds like it would apply only to high-end cars like BMWs, Mercedes, or Range Rovers. That is not really the case. These limits can apply to a perfectly…
If you are an S corporation owner, this question matters more than most people realize. Reasonable compensation is the amount a business owner-employee should be paid for the work they actually perform. In plain English, it is what you would have to pay someone else to do your job under similar facts and circumstances. This is…