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Watch On YouTube Every business must figure its taxable income based on an annual accounting period called a tax year. The either/or dilemma is often between using the standard Calendar Year (Jan 1 to Dec 31) or a different Fiscal Year. Choosing the wrong one can lead to unnecessary
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Watch On YouTube Starting a new business is a whirlwind of activity, but neglecting core tax setup steps can set you up for major headaches down the road. The either/or dilemma is between being overwhelmed with the complexity of tax rules or risking significant penalties later. Our S3 New
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Watch On YouTube For many new business owners, the decision of choosing a business structure is often narrowed down to simply understanding the tax forms involved. This reductionist view can lead to significant financial anxiety, as it overlooks crucial legal and liability implications. Our constitutional approach encourages a 'both/
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Watch On YouTube One of the four essential steps in your first 30 days is choosing your tax year. This choice is an official decision that requires consistency. A common pitfall is the belief that applying for an EIN or paying estimated taxes locks you into a tax year. This
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Watch On YouTube Married couples who operate an unincorporated business together often face the anxiety of complex tax filings, assuming they must navigate the intricacies of a partnership return (Form 1065). This perceived necessity for a complex solution is a common false choice that can be elegantly resolved with the
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Watch On YouTube What happens when you own more than one business? Do you have to use the same accounting method for all of them? The either/or dilemma is often between using a single, uniform method and matching the right method to the specific needs of each business. Fortunately,
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Watch On YouTube Recordkeeping is all about creating a clear, auditable trail of where your money goes. The either/or dilemma is between quick convenience (writing a check to 'Cash') and clear records (writing a check to a specific entity or person). Safe practice demands clarity. Avoid writing
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Watch On YouTube Setting up your business's tax foundation requires intentionality, not luck. Many new business owners unknowingly risk non-compliance by delaying simple, foundational steps like obtaining an EIN or opening a separate bank account. This is an either/or dilemma: either operate non-compliantly now, or take one
STARTING BUSINESS
Resolve the Tax Contradiction: Can You Safely Claim Your Home Office? For business owners and dedicated high-capability professionals, the home office deduction is one of the most common and valuable deductions—yet it's also one of the most misunderstood. The IRS rules feel like a puzzle, forcing you
STARTING BUSINESS
Your Financial Architecture Needs a Defensible Blueprint. As a business owner or ambitious professional, you view your company not just as an income source, but as a complex, dynamic system. Yet, many brilliant entrepreneurs still manage their records like a chaotic junk drawer—and that’s a bug waiting to
STARTING BUSINESS
Are You Building a Business on a Strong Financial Foundation? As a founder, entrepreneur or side-hustle enthusiast, your focus is on innovation, execution and growth. But there's a critical first step that often causes the most stress: getting the compliance foundation right. Having lived in both worlds—as
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Watch On YouTube One of the most foundational decisions for a new business is choosing an accounting method. The choice is critical because it determines when you report income and deduct expenses. The either/or dilemma is often between using the simpler Cash Method and the compliance requirement of the