One of the biggest misconceptions I hear from small business owners is that if an expense helps their business, it’s automatically deductible. Unfortunately, tax law isn’t always that simple. There are plenty of legitimate deductions available, but knowing which ones apply to your business—and keeping the proper documentation—is what makes the difference. Here are three […]
Let’s start with the good news most people will never be audited by the IRS. That said, there are a few things that can make your tax return stand out, and they’re usually much easier to avoid than people think. One of the biggest mistakes I see is people forgetting to report all of their […]
One thing I hear all the time is, “I’ll worry about taxes when tax season gets here.” I understand why people think that way. Once April is behind us, most business owners are focused on running their business, serving customers, and trying to grow. Taxes are usually the last thing on anyone’s mind. Ironically, that’s […]
If you’re thinking about selling an investment property, one of the first questions you should ask isn’t how much you’ll make—it’s how much you’ll owe in taxes. Many real estate investors are surprised by the capital gains taxes that can come with the sale of a property. The good news is that, in some situations, […]
When most people think about taxes, they think about January, February, and April. By the time summer rolls around, taxes are usually the last thing on anyone’s mind. Business owners are focused on serving customers, managing employees, and keeping everything running smoothly. I completely understand that, but after more than 20 years of working with […]
When I first started preparing tax returns back in 1999, the biggest questions I received were about stocks and mutual funds. Today, more and more of those conversations revolve around cryptocurrency. While digital assets have become much more common, the tax rules often catch people by surprise because they don’t always work the way investors […]
If you own a business in Nevada and spend time driving to meet clients, visit job sites, attend networking events, or travel between business locations, the IRS mileage rate increase for 2026 is good news. The IRS recently announced that the standard mileage rate for business use has increased to 72.5 cents per mile for […]
One of the most misunderstood tax deductions I see business owners ask about is the home office deduction. Some people avoid taking it because they’ve heard it increases their chances of an IRS audit. Others assume they can deduct part of their home simply because they occasionally answer emails from the couch. The truth falls […]
One of the most common questions I get from business owners is, “Can I write off my vehicle?” The short answer is yes. The longer answer is that there are several ways to do it, and the best choice depends on your specific situation. Over the last two decades, I’ve seen business owners save thousands […]
Over the past twenty-plus years of preparing tax returns and helping business owners navigate changing tax laws, I’ve learned that the headlines rarely tell the whole story. Every time Congress makes changes to the tax code, business owners start hearing rumors. Someone says taxes are going up. Someone else says there are huge new deductions […]