Passport Restrictions
The federal government and the IRS are now working hand in hand. If you owe any taxes and have not set up a payment plan with the IRS to make sure that those taxes are going to get paid the…
Learn or Succeed
What’s your favorite go to, live by saying? I like to keep a positive attitude so for me; I never lose. I only succeed or I learn. I learned this in Norway and it really stuck with me. Hey, everybody.…
Gifting limits and you!
If you're a resident citizen of the US, you can give any other individual up to $14,000 per year. It is not a tax deduction to the person giving the money, but it is also not income to the person…
What is cost segregation
Cost segregation is when a group of engineers come into a building, commercial or residential, typically over $500,000 mark, and do an engineering study to pull apart the different pieces of the building to segregate the costs. When you are…
Top 3 everyday! What are your top 3 today? Thunderstruck!
Make your top three list every night and tackle those tasks first thing the next morning before anything else gets done. If you get your big boulders done for the day, there's plenty of space left for all the little…
Life is Good: Remember to Weave in the Fun
No matter what you do, whether it's knitting, playing tennis, traveling, playing with your kids, taking walks in the forest or desert, make sure that you book time for yourself. As entrepreneurs we can get really busy, and sometimes work…
How do you know if your tax preparer is getting you the lowest tax bill?
Why do we ask a ton of questions? The reason why we do that is because we are trying to make sure to squeeze every little last dollar out of the government and keep it in your pocket. If you…
So, what is the difference between a regular tax preparer and a Strategic Tax Coach /CTC?
A tax preparer is one who takes your data, inputs it into a tax return, and spits out a number for you. A strategic tax coach or certified tax coach is a person who goes over your details, your life,…
Ideal tax scenario in real estate
"What is one of the best combinations to get the lowest possible tax bracket?" If a person has a W-2 job and is making fairly good money, and has the spouse who manages all of the family rental properties or…
First Quarter Estimated Taxes
This year, April 15th falls on a Saturday which means normally it would roll to April 17th and I believe that April 17th is also a holiday in DC so some people even have until April 18th to file. Quarterly…
Cell phone usage in your company
The IRS has technically defined de minimus as $100 or less. If you are a company who provides a company cell phone for your employees to use, you do not have to worry about adding that to their W-2. You…
Do something that terrifies you every day.
One of my absolutely favorite authors is Tim Ferriss and to quote, "A person's success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have." I have always found that: If…
1 billion in refunds, Q&A with the Tax Goddess 3/14/17
If you have refunds due to you from the 2013 tax year, you need to make sure that you file before April 15th of this year; otherwise, those refunds belong to the government. If you think that you are owed…
ACA repeal and 2013 filings
If you're getting refunds from 2013 filing and you wait until after April 15th of this year to file, you will not get those refunds back. The IRS offices here in Phoenix have shut down their walk-in options. A former…
Happy Mardi Gras! Don’t dig your head in the sand.
Never dig your head in the sand; always make sure that you try to work upfront with the IRS. They're actually quite good at setting up payment plans. There may be penalties and interest, but at least you won't have…
