Been weighing out the options and the returns for both. I find that most clients I have helped find one or two investments they like and they don't move from it. I have been discussing this with my advisors and friends invested in the space. How much do you know about these topics? Would you be interested in learning more? From the knowledge you currently have and your point of view - if you had $50k-$100K to invest right now what would you do with it.

Keeping receipts is audit protection. The IRS might not audit you next week but it could happen three years down the line. So please, do keep records. Bookkeeping is knowing what's in your bank account, reconciling your accounts, doing quarterly reports to see how you are spending your money, filing your tax return every year. Every LLC should have its own bank account. Keep things clear. Did you know that you reduce the chances of getting an audit by doing an extension. I always extend. This is to file not to pay. I had a new client come in a week prior to October 15th this year. He had not been submitting his estimated payments at all. Also didn't pay by April. His penalty was around $1,200. That's money just wasted. Avoid what this client did, and advise other entrepreneurs in your life to not be this person. If you want to give $1,200 away that's fine but I guarantee the IRS is not your preferred charity.

To sell your business, you need multiple years of historic performance and a solid projection of what the future looks like. So here’s something to think about… Are you even building your business with that in mind? Based on what you’re doing right now, are you building to sell, or just to work? Have you ever thought about acquiring another business to grow faster? Depending on your industry and the size of your company, there are usually a few ways to exit, but have you actually considered any of them? And more importantly, has your tax advisor ever brought this up to you? If you’re in the middle of building right now, what’s your current plan for growth? Have you had this conversation yet? 🧠 Have You Thought About This?

We discuss the essential foundations of small business tax planning, focusing on organization, financial management, and maintaining a healthy entrepreneurial mindset. We explore strategies for keeping clean financial records, separating business and personal finances, and understanding IRS guidelines for legitimate business operations.

women promoting themselves to babysit at weddings and events. WOW! I wish I would have thought of that when I was younger. People pay for that. They want someone to entertain the children during the ceremonies and parties. You can make a months salary in an evening. In this case they would be their own agency so estimated payments would be in the picture along with some expenses. Possible uniform or all black. I would do branded shirts that say “event nanny”, Deduct toys and activities they purchase for the children (art kits, face painting, etc…) A vehicle if mainly used for business if you’re doing events every night. What other expenses would they have that I am missing?