Tax Smart Advisors Blog
Accounting and tax tips, updates and the latest news for small business owners and individuals.
Your Future Deserves a Spot on the List: Year-End Retirement Planning for Business Owners
Owning a small business means your time and attention are pulled in every direction. Managing day-to-day operations and staying focused on clients and employees leaves you with little bandwidth to think about your own future. But if you don’t find the time, who will?
Mixing Business and Personal Money? That’s a Recipe for Disaster.
When you’re running a small business, the line between business and personal can get blurry fast. Maybe you’ve paid for supplies with your personal card or grabbed groceries on the business account once or twice. It happens. But over time, that mix-up can cause real headaches that could make or break your financial stability.
Hit Reset on Your Business Budget This September
After the ball drops, January gets all the hype for fresh starts. But let’s be real. By the time the new year rolls around, most business owners are running on fumes. You’re buried in tax prep, year-end reporting, and still shaking off the holiday rush. Hardly the best time to think clearly about budgets and goals
Class Is in Session: A+ Tax Savings for Parents
A new school year means supply lists, new clothes, and a fresh schedule. With all that going on, taxes are probably the last thing on your mind. Here’s your chance to pick up some quick tax tips you don’t want to miss because skipping them is like failing the final exam in saving money.
Toolkit for Cutting Through the Noise on the One Big Beautiful Bill
The recently passed One Big Beautiful Bill just shook up the tax landscape for small businesses in a big way. With so much stuffed into the legislation, it’s no surprise if you’re feeling overwhelmed or unsure about what it means for your bottom line.
Sun, Side Hustles, and Self-Employment Taxes
Summer brings sunshine, longer days, and for many people, a chance to take on a side hustle or pick up freelance work. Think driving for a rideshare company, offering lawn care, selling handmade goods, or consulting in your area of expertise. That extra income is always a welcome boost, and the work can be deeply rewarding. But those benefits also come with added tax responsibilities.
The Small Business Growth Hack Hiding in Your Books
Let’s face it, bookkeeping isn’t exactly the most exciting part of running a business. For many small business owners, it’s likely to land squarely in the “I’ll deal with it later” pile, right next to sorting receipts and clearing out a cluttered inbox. But here’s the thing, accurate bookkeeping isn’t just about staying on top of paperwork or surviving tax season. It’s a key driver of business growth.
Tax Season’s Over—So Why Think About It Now?
You may have closed the books on the 2024 tax season, but that doesn’t mean you should stop thinking about your taxes. Isn’t tax planning just doing your taxes early? The best time to start planning for next year is right now. Everything is still fresh in your mind, and there’s plenty of time to make smart, meaningful changes that can benefit you next year.
Why Every Small Business Needs an Emergency Fund (and How to Build One)
Running your own business comes with plenty of rewards, including independence, financial potential, and the satisfaction of building something from the ground up. But it also brings its fair share of unexpected challenges. When faced with surprise expenses or economic downturns, having a financial cushion can be the key to weathering the storm rather than struggling to stay afloat.
DIY Taxes vs. Hiring a Pro: What’s the Best Choice for You?
Every tax season, you face the same dilemma – should you file your taxes yourself or hire a professional? With so many DIY tax software options available at your fingertips, filing on your own might seem like the simplest and most cost-effective choice. However, depending on your financial situation, working with a tax professional could end up saving you time, stress, and even money.