Can I Deduct That As A Business Expense?
I work with many business owners and by far, the most commonly asked question I get is, “Can I deduct that as a business expense?” As with all good tax law…
Category: Business Planning
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Should I Have A Single Person S-Corporation?
The 2018 tax season is here! We are finally going to see the effects of the tax law change at the end of 2017. And as you can image, lots… -
Single-member LLC or S-Corp? Finding the right business structure for your one- or two-person business
Do you manage a one- or two-person business? You may want to re-evaluate the way you structure your business in 2019, as new tax rules change the incentives for very… -
The Business Owner’s Guide to the Qualified Business Income Deduction
Are you eligible for a 20 percent business income deduction this year? The qualified business income (QBI) deduction is one of the most intriguing elements of the Tax Cuts and… -
Maximizing Your Home Office Deduction
Working from home is awesome. The commute is short, you don’t have people dropping in to chit chat and depending on the day you may not even have to shower.… -
How to Save for Retirement in Your Small Businesses
When you start your own business, no one else can tell you how to do what you do, and that’s a great feeling. But on the other hand, no one… -
Tips on Getting Through Your First Year of Entrepreneurship
Where has the time gone? I’ve asked myself that question many times this year. When I received the invitation for my 20-year high school class reunion. When my older brother,… -
Five Launching Tips for the Budding Entrepreneur
Welcome to the all-new Brian Thompson Financial! As you can see, my site has changed quite a bit. After 10 years of practicing law, I’ve decided to take the leap… -
A Word of Caution About “Following Your Passion”
I often hear phrases like “follow your passion” and “If you do what you love, you’ll never work a day in your life.” While these are great pieces of advice,… -
Three Tax Deductions that Make Life Easier for Schedule C Filers
I encounter a lot of Schedule C filers in my practice. These are the people that in some way work for themselves. The self employed have a lot to deal… -
How Redesigning Receipts Could Help Your Finances
A good friend, who works as an experience designer, had a recent idea about changing the design of receipts to help consumers better understand how much they spend. This year,… -
The Best Retirement Plans for Small Businesses
On Tuesday, I gave some tips on improving your finances in 2015 by making simple changes to your retirement account. These solutions are also accessible to those of you who… -
The Unique Type of LLC Your Small Business Should Be Using
This week we’ve gotten to know the best business structures for those going out on their own. I’ve discussed the benefits of the LLC and the S-Corp. I’ve also shown…