Business Finance

If your business is short on cash, a loan can look like the fastest fix. Sometimes it is. Sometimes it turns a temporary problem into a much bigger one. As a CPA, I look at business cash flow loans through one lens: does this financing solve the actual problem without putting the company in a […]

Selling appreciated real estate in Virginia can trigger a bigger tax bill than most owners expect. A home sale may qualify for the federal home-sale exclusion, but a rental property, farm, inherited property, or mixed-use property can bring in other issues: Virginia income tax, federal capital gains tax, the 3.8% Net Investment Income Tax, depreciation […]

If you’re trying to decide between hiring a CPA, a CFO, or both, the simplest answer is this: a CPA helps make sure the numbers are right, while a CFO helps you use those numbers to make better decisions. That distinction matters more than most business owners realize. The wrong financial support can leave you […]

Q: What tax deductions do most small businesses miss? A: Nearly every “ordinary & necessary” expense – advertising, software, contract labor, insurance, rent, supplies – can be deducted. The main traps are gifts over $25, entertainment, nondeductible personal-benefit costs (clothing, childcare) and assets that must be depreciated instead of expensed. TL;DR (quick cheat-sheet) Always deductible […]

If you are eyeing a G-Wagon and telling yourself it is a business deduction, you are not alone. Social media has turned Section 179 into a luxury-SUV sales pitch. The problem is that a lot of the advice floating around is incomplete, outdated, or missing the IRS rules that actually matter. (irs.gov) A G-Wagon can […]

If you run a business as a sole proprietorship, LLC, partnership, or S-Corp, choosing the right retirement plan can materially affect both your tax deduction and how much you can actually save. A SEP IRA is popular mainly because it is easy. That does not mean it is usually the better tax move. In a lot […]

If you are shopping for an SUV in 2026 because you have heard you can “write off the whole thing,” the first thing to know is that the rule is more specific than that. The better tax treatment generally starts when a vehicle is over 6,000 pounds GVWR (“Gross Vehicle Weight Rating”), used more than […]

If you’ve heard “hire your kids and it’s all tax-free,” you’ve heard the version that gets people in trouble. The real version is simpler and more boring: you can deduct wages paid to your child for legitimate work and, in the right unincorporated setup, those wages can also be exempt from FICA (under 18) and FUTA (under 21). Separately, the […]

The Augusta Rule (IRC §280A(g)) is one of the most powerful – and most misunderstood – tax strategies available to S-Corp and LLC owners. When used correctly, you can rent your home to your business for up to 14 days per year, deduct the expense on your business return, and pay zero income tax on […]

Q: How can S-Corp owners maximize their QBI deduction? A: By strategically adjusting W-2 wages. For high-income S-Corp owners, the QBI deduction is limited by wage thresholds. Paying too little in salary can eliminate the deduction entirely – while a properly optimized salary can unlock tens of thousands in tax savings. But the salary must […]

Q: What are the biggest tax changes in the One Big Beautiful Bill Act compared to an expiring TCJA? A: OBBBA locks several TCJA breaks in place and softens others. QBI stays permanent, the child credit rises to $2,200, the standard deduction is permanently increased, SALT gets a four‑year $40k cap, Pease is repealed, and […]

Q: Which business entity saves the most tax – sole proprietor, LLC, S-Corp, or C-Corp? A: For owner-operated businesses above roughly $50k profit, an S-Corp usually wins: it slashes self-employment tax on distributions without double taxation. Single-member LLCs add liability protection but no tax break, partnerships keep the full 15.3% SE hit, and C-Corps look […]