Granted Stock Options? Filing an IRS Section 83b Election

Granted Stock Options? Filing an IRS Section 83b Election

Death & Taxes, But How Much In Taxes? When building or joining a new enterprise, we tend to get caught up in the most exciting and impactful aspects of our days.  What can I build now? Who can I sell to now? Who might invest in the business?  One thing we assume we can put off is thinking about our tax liabilities since any exit […]

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Your Accounting Should Be Utilizing R&D Tax Credits

Your Accounting Should Be Utilizing R&D Tax Credits

The Dollar for Dollar Benefit of Tax Credits With the startup market booming and large sums being spent on research and development (R&D), many newly profitable companies forget to look forward to the days of when they move from the red into the black.  Or when they become profitable, they forget to update their processes for their changing tax position.  Their accountants, after either not […]

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IRS Notices and Data Protection

IRS Notices and Data Protection

The IRS Notice Freak Out As a founder or executive, if you have yet to receive the dreaded IRS notice, I promise you that it is probably coming.  These have been known to induce terrible symptoms, including an increased heart rate, sweating, a kung-fu grip on your phone, and worst yet- the high pitched emergency call to your accountant. What to do if you find […]

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Tax Consequences on Peer-to-Peer Accommodations

Tax Consequences on Peer-to-Peer Accommodations

Side Hustle Nowadays many founders, entrepreneurs, and employees need a second source of income to supplement their monthly expenses.  Airbnb has been a solution for many people looking for extra cash.  With that extra cash comes tax consequences, and maybe tax advantages. Unfortunately, income from rental property is taxable.  But, you can report expenses related to that rental property and decrease your taxable income.  Some […]

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12 Tips for Year End Tax Planning

12 Tips for Year End Tax Planning

Right now is the best time for year-end tax planning that might help lower your tax bill.  Here are 12 tips to consider using for your business and personal tax returns before ringing in the new year. Year-end tax planning for business: Invest In Your Property Consider making business expenditures that qualify for the business property expensing option (example: computers, furniture & fixtures, etc.). Move […]

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