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Catalogue — Education

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Education

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20 April 2025

Understanding Intercompany Loans

When you have mutliple entities, it's easy to get lost in the money movement when you're transfering money back and forth between entities. The key is to keep it simple...and keep it reconciled.

1 min read

Angie Grainger, CPA/PFS, CFP

Education

20 April 2025

Understanding Your Profit & Loss Statement

The Profit & Loss (P&L) Statement, also known as the Income Statement, shows your business’s income and expenses over a specific time period. It answers one big question: Where did my money go?

4 min read

Angie Grainger, CPA/PFS, CFP

Education

20 April 2025

Understanding Your Statement of Cash Flows

A cash flow statement is a financial report that shows how much cash is moving in and out of a business over a specific period of time. Think of it like your business’s checking account—it tells you how much real money is available to run the show.

1 min read

Angie Grainger, CPA/PFS, CFP

Education

20 April 2025

Understanding Your Balance Sheet

A balance sheet is a snapshot of your business’s financial position at a single point in time. It shows what you own, what you owe, and what’s left over. In other words your Assets minus your Liabilities is your Equity.

4 min read

Angie Grainger, CPA/PFS, CFP

Education

3 October 2024

Tax Strategy: Hiring Your Kids

Ever thought about hiring your kids to help with the family business? Turns out, it can lead to some serious tax savings!

3 min read

Angie Grainger, CPA/PFS, CFP

Education

1 April 2024

Tax Strategy: Life insurance premiums are not (usually) deductible

Many small business owners pay their life insurance through their business, but it's not deductible.

2 min read

Angie Grainger, CPA/PFS, CFP

Education

15 March 2024

Explainer: UPDATE—Hold off on reporting under the new FinCen rules

On March 1, 2024 a federal court ruled the Beneficial Ownership disclosures unconstitutional. Watch out for businesses offering to file this for you.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

23 February 2024

Tax Strategy: How to deduct home office expenses in an S-Corp

When you make the election to treat your LLC as a S-Corp, you no longer take the home office deduction on your personal tax return.

4 min read

Angie Grainger, CPA/PFS, CFP

Education

20 February 2024

Tax Strategy: Is it time to convert your 1099 independent contractors to W-2 employees?

As of March 11, 2024, the Department of Labor may be cracking down on today's gig economy and remote workers being treated as 1099 independent contractors.

4 min read

Angie Grainger, CPA/PFS, CFP

Education

31 January 2024

Tax Strategy: How 1099-K affects small businesses

When you pay by credit card, it's not necessary to issue 1099s to your vendors.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

25 January 2024

Tax Strategy: Understanding the importance of filing 1099s

Don't worry, the IRS won't come pounding on your door - however there are consequences of not reporting.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

22 January 2024

Tax Strategy: Hiring workers overseas

The US taxes foreign workers' income, but there are exceptions

5 min read

Angie Grainger, CPA/PFS, CFP

Education

29 December 2023

Explainer: Creating a Profit-Sharing Plan

Designing a plan for your employees and independent contractors may tricky—but it's not impossible.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

28 December 2023

Tax Strategy: Leasing vs Buying

Business owners often ask if it is better to buy a vehicle or lease it. Learn the pros and cons.

4 min read

Angie Grainger, CPA/PFS, CFP

Education

26 December 2023

Tax Strategy: How PTE (Pass Through Entity) Tax Saves You Money

Paying your state taxes through your entity finally returns a full deduction of state taxes.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

23 December 2023

Tax Strategy: How Home Office Deductions Work

Understanding the home-office deduction rules will help avoid IRS headaches in the future.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

23 December 2023

Tax Strategy: How to Write Off a New Car

The IRS limits the amount that can be written off in one year, but there are exceptions.

1 min read

Angie Grainger, CPA/PFS, CFP

Education

21 December 2023

Tax Strategy: How Corporate Double Taxation Works

If you own a C-Corporation, you may be subject to double taxation. Learn how to manage it.

3 min read

Angie Grainger, CPA/PFS, CFP

Education

20 December 2023

Tax Strategy: How to Deduct Business Meals

The IRS allows a deduction for meals, but not always. Learn how to maximize your deducitons.

2 min read

Angie Grainger, CPA/PFS, CFP

Education

18 December 2023

Tax Strategy: Contribution vs Benefit Plans

Understanding the differences between a defined benefit plan and a contribution plan will help you determine what's best for your business retirement plan.

2 min read

Angie Grainger, CPA/PFS, CFP

Education

18 December 2023

Tax Strategy: How to Deduct Health Insurance

There are various ways to get a tax deduction for your health insurance.

5 min read

Angie Grainger, CPA/PFS, CFP

Education

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