shorts
Watch On YouTube For any business, the number one rule of tax compliance is being able to verify your income. This is the Safe Principle for Gross Receipts. The either/or dilemma is often between using simple, undocumented records and creating a safe, verifiable history of your income. Your supporting
shorts
Watch On YouTube An essential, early step for any new business is obtaining an Employer Identification Number (EIN). It’s a nine-digit number issued by the IRS for tax filing and reporting purposes—like a Social Security number for your business. Neglecting this is an either/or dilemma: either operate
shorts
Watch On YouTube Retirement planning is often framed in a way that is immediately stressful and intimidating. We are shown complex charts, confusing spreadsheets, and told to focus on abstract numbers. This complexity can make anyone feel like they're already behind, turning a hopeful topic into a source
shorts
Watch On YouTube Tracking business income and deductible expenses is essential, but it can quickly become overwhelming if business and personal funds are mixed. This is an either/or dilemma: either risk an audit for convenience now, or simplify your life later with clear records. The solution is remarkably simple.
shorts
Watch On YouTube A critical, often confusing step for new business owners is understanding how to legally pay themselves without complicating their tax returns. Commingling funds—mixing business and personal money—is a common mistake that can cause major problems. This is an either/or dilemma: either risk an audit
shorts
Watch On YouTube Many growing small business owners grapple with the desire for corporate liability protection without the burden of double taxation that comes with a C corporation. This perceived conflict between asset safety and tax efficiency often creates significant financial anxiety. Fortunately, constitutional thinking reveals a powerful 'both/
shorts
Watch On YouTube If your business sells goods, records that document the cost of inventory are essential. This is crucial for accurately calculating your business's profit. The either/or dilemma is often between simple bookkeeping and accurate profit tracking. A Sound methodology ensures both. Records for Purchases &
shorts
Watch On YouTube Life will inevitably bring unexpected challenges—the 'thunderstorms' that can threaten your financial plan. Many people focus only on growth (accumulation) and neglect the importance of protection (resilience). This either/or dilemma forces you to choose between growth and safety. Our constitutional approach offers a
shorts
Watch On YouTube To deduct expenses for the business use of your home, you must generally meet two primary tests: The 'Use Test' and the 'Business Connection Test'. The either/or dilemma is often between complexity and clarity. Our Simple guide provides clarity. The Use Test
shorts
Watch On YouTube The general rule for record retention—the time you must keep records—is until the 'period of limitations' for that tax return runs out. The most common timeline is the 3-Year Rule: keep records for 3 years from the date you filed your return (or
shorts
Watch On YouTube For many, the thought of creating a budget is stressful and restrictive. They view it as a cage that limits their freedom and creates financial tension. This either/or dilemma forces you to choose between spending freely or being overly restrictive. Our constitutional approach offers a both/
shorts
Watch On YouTube The reason for implementing a robust recordkeeping system goes beyond mere compliance; it's about achieving peace of mind. The either/or dilemma is often between living with anxiety and fear of the IRS or building a confident, organized system. This method organizes the chaos of