This edition centers on Understanding Business Taxes: A Workshop for Entrepreneurs—your practical, plain-English guide to staying compliant, saving money, and making confident decisions. Join in, ask questions, and subscribe for ongoing workshop updates and bonus checklists.
Entity Choices and Their Tax Ripples
Each option balances liability protection, paperwork, and taxation. Many start lean with an LLC, then evolve as revenue grows. Share your current structure, and we’ll outline the typical tax responsibilities you should expect this year.
Bookkeeping Habits That Make Taxes Easier
Design a Helpful Chart of Accounts
Group revenue streams and common expenses so deductions are obvious. Clear categories help your tax pro defend positions confidently. Post your industry in the comments, and we’ll propose starter account groups you can adapt quickly.
Receipt Capture and Audit Readiness
Use mobile apps to attach receipts to each transaction. A few seconds now prevents hours of stress later. Reply with tools you already use, and we’ll recommend integrations that keep documentation airtight for future audits.
Monthly Close Rituals
Reconcile bank accounts, review unusual entries, and tag personal charges. This routine uncovers errors early. Want our 20-minute monthly checklist? Subscribe, and we’ll send the exact steps we use with early-stage clients.
Deductions and Credits You Might Be Missing
A genuine, regular workspace can unlock deductible square footage, internet, and utilities. Documentation is everything. Tell us your setup and we’ll suggest methods—simplified or actual—to calculate and substantiate your deduction confidently.
Deductions and Credits You Might Be Missing
Track mileage with a reliable app, separate business trips clearly, and document the business purpose for meals. Comment with your travel pattern, and we’ll outline which records matter most for a credible, defensible deduction.
Estimated Taxes and Cash Flow Planning
Safe Harbor Basics
Using last year’s tax as a baseline can shield you from penalties, even if you grow fast. Ask us about safe harbors, and we’ll show examples to keep payments predictable while preserving working capital thoughtfully.
Building a Tax Reserve Habit
Move a fixed percentage of revenue into a separate account weekly. Visibility improves decisions and reduces stress. Share your average margin, and we’ll suggest a starting reserve rate tuned to your growth and seasonality pattern.
Quarterly Review Routine
Each quarter, refresh forecasts, check profitability, and adjust estimates. A 30-minute check-in can save thousands. Want our review template? Comment “template,” and we’ll send a concise, editable version for your next session.
Hiring, Contractors, and Classification Pitfalls
Control, tools, and schedule influence classification. Misclassification invites penalties and back taxes. Describe a role you’re hiring for, and we’ll suggest indicators pointing toward employee or contractor under typical regulatory factors considered.
Consumption taxes often apply where customers reside, not where you are. Registration thresholds vary widely. Share your top foreign markets, and we’ll outline whether lightweight registration or marketplace solutions might suit your situation best.
Digital offerings may trigger special rules, even without a physical presence. Clarify product type and delivery. Post your model—download, subscription, or hybrid—and we’ll suggest the documentation to track for country-specific evidence requirements.
Tax treaties and foreign tax credits can reduce duplicate taxation. Coordination matters. If you operate in two or more countries, comment with your footprint, and we’ll propose a starter conversation to frame advisor outreach effectively.