Tax & Business Insights

Q: What happens to my taxes when the Tax Cuts and Jobs Act expires after 2025? A: They almost certainly go up. The 20% QBI deduction vanishes, tax brackets shift higher, AMT thresholds plunge, the standard deduction shrinks, and dozens of “temporary” breaks end – unless Congress extends the legislation. TL;DR QBI gone. Pass-through owners […]

2025 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 15th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs and […]

2024 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 16th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs and […]

“How much you want to make a bet I can throw a football over them mountains? Yeah. If coach would’ve put me in fourth quarter…we’d have been state champions, no doubt. No doubt in my mind. You better believe things would have been different. I’d have gone pro…in a heartbeat. I’d be making millions of […]

We offer an extremely flexible work environment – both in terms of schedule and work-from-home opportunities. With that, the person taking this job will need to be a self-starter and able to manage themselves. We are generally here as resources for when employees need assistance, but otherwise people generally go about their day-to-day autonomously. Anyone […]

2023 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 17th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs and […]

“He was able to turn out thousands of paintings over his lifetime while his contemporaries were lucky to turn out a hundred” – Mike Michalowicz discussing Sir Peter Lely A while back I was talking with a friend and client (Mitch Wilder) about how I’ve been feeling increasingly underwater lately. The firm has continued to […]

Calling all talented TAX ACCOUNTANTS who want MORE. We’re looking for the best and brightest tax expert to join us. And not just as a salaried tax accountant/tax manager, but also with production bonuses as well.

2022 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 18th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs (formerly […]

“Your pain is the breaking of the shell that encloses your understanding. […] Much of your pain is self-chosen. It is the bitter potion by which the physician within you heals your sick self. Therefore trust the physician, and drink his remedy in silence and tranquility”  – On Pain by Kahlil Gibran   This past […]

2021 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 15th: due date to pay 4th quarter estimated taxes. February 1st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs (formerly […]

“I don’t think I ever sang the same way twice. And I don’t think I ever sang the same tempo. One night is a little bit slower and the next night is a little bit brighter. It depends on how I feel. I don’t know, blues is sort of a mixed-up thing. You just have […]

That was my absolute favorite song for most of my teenage years. I had a visceral reaction to it and it touched me on a deep level. Because it matched what I was going through at the time (or at least what I thought I was going through – “love” at that age is quite the mercurial thing.)

Longtime readers will remember that I have a more favorable view on debt than most – the right types of debt that is. We’ve written about the dangers of excessive debt, but more often have talked about how the intelligent use of debt can be quite advantageous (examples can be found here, here, and here). […]

There’s a term in competitive gaming called “Elo hell”. The phrase comes from the Elo ranking system, which was originally created for chess matches in an attempt to match players of similar skillsets to play against each other. The ranking system has since been used by participants in board games, sports leagues, and a number […]

2020 and all of its tax deadlines are upon us! Below is a quick guide of the most important dates to keep in mind this calendar year. January 15th: due date to pay 4th quarter estimated taxes. January 31st: Due date to send out 1099s and W-2s to recipients. Due date to file 1099s/1096s with […]

“Facts are stubborn things, but statistics are pliable.” ― Mark Twain I’m a big proponent of tracking key metrics in your business. (For those unfamiliar with the term, a metric is simply a quantifiable measure that businesses use to track, monitor and assess the success or failure of various business processes). A large portion of my […]

Nearly seven years ago I started “Micah Fraim, CPA” on a bit of a whim. As I’ve noted to many of you along the way, I started with $2,000 in the bank, no clients, and next to no contacts. I spent half of that money on the laptop and software I needed and hoped for […]

“I can live with doubt and uncertainty and not knowing. I think it is much more interesting to live not knowing than to have answers that might be wrong.” – Richard P. Feynman Hardly anyone is fully content with their current situation – least of all entrepreneurs. If you ask 100 business owners, even those […]

“They used to tell me I was building a dream With peace and glory ahead Why should I be standing in line Just waiting for bread?   Once I built a railroad, I made it run Made it race against time Once I built a railroad, now it’s done Brother, can you spare a dime?” […]

A few years ago, I did a string of articles talking about the importance of charging appropriately. They talked about how customer loyalty can sometimes be fleeting, how low prices can diminish perceived value and the volume of customers you get, and how low prices can attract the wrong type of customers. In the last […]

Bookkeeping is the bane of most business owners’ existence. But ignoring our books or putting them on the back burner can be one of the costliest mistakes we ever make. A few years back, SCORE conducted a poll asking entrepreneurs what was the worst part of owning a small business. A whopping 40% answered bookkeeping and taxes. […]

One of my favorite things in music is when one artist samples another artist’s work. (“Sampling” means taking a portion of an existing song and using that as an element of a new song.) Musicians in all genres do this, but you seem to see it the most in R&B and hip-hop. The sample can […]

“I can do that myself. I don’t need to hire someone else to do it.” How often have you heard the above statement? Someone is capable of doing a task themselves, so they don’t want the “unnecessary” expense of hiring someone else to do it for them. And in some situations, that’s perfectly reasonable. For […]