Edit - Ended up making a learning module on this: https://www.skool.com/tax-strategy-network/classroom/0b0f419e - free to all members This is probably going to apply to a small number of people in this group, but it's worth noting that software development under Section 174A is automatically considered eligible research expenses. Still have to pass the 4-part test. I'm working on a tool for people who use VS Code, Claude Code, Codex, etc to use the chat artifacts to create the logs required for substantiating the credit. That then gets applied to your self-employment earnings (Schedule C/1065 Partnership) or W-2 (S corporation/C Corporation). Free money from the government for those that qualify.

https://sec139.taxsherpa.com/ Every company should have a section 139 plan on the books. See the module at https://www.skool.com/tax-strategy-network/classroom/9cf81ead?md=ce3ed30feca548b4a69015599bcfee5f This is a simple, free tool. Use it!

I'm at the Excel Empire Certified Tax and Business Advisor training this week. So no Navigators call tomorrow

https://accountableplan.taxsherpa.com/ The tool for doing your own accountable plan calculations has been updated a little bit. Now we have a single-month view and a 12-month view where you can enter data for multiple months all at once. There's also a function for business owners who are reimbursing employees. That doesn't apply to very many people but I wanted that functionality. For Tax Sherpa accountable plan clients we're working on the latest version in the done-for-you version that is currently in testing. I'll do a separate update on that as it develops. August is super packed for me so at some point I will do a video overview of the new functionality on the Accountable Plan Tool. That will have to wait for now.

I've been thinking a lot recently about what it is I'm actually trying to do here. There are global purposes and goals, and there are more local purposes and goals. At a big level I'm trying to make the world a better place by defunding the government. The way that I do that, is through business and tax strategy. That dovetails with how I think small business is one of the best things that humanity's ever invented. More and more I find myself trying to help people recognize the three different phases of how money flows with regards to them specifically: 1. Base Camp: This is your active business. Maybe that's you as an employee, maybe that's you in your own business, or it could be lots of different things. Money comes into Base Camp as revenue and then it has to proceed through your business systems to create net profit, seller discretionary earnings, or EBITDA. These are all different ways of describing the same kind of thing: how much is the owner extracting from the business? The most important question is how efficiently that is happening. 2. The Ascent: This starts from Base Camp and goes toward the top of the mountain, where all of the tax strategy comes into play as far as making sure as many dollars make it from Base Camp to the summit. We want to improve the efficiency of these dollars so that you are retaining as much as possible. 3. The Summit: A lot of people think that means money in a checking account, but really the summit is the asset base that supports your lifestyle, or the wealth being generated for you and your family. Ideally you would grow your asset base so large that the yield from that is sufficient to support your lifestyle. When that happens you no longer need Base Camp. You no longer need the Ascent because the summit is keeping you there all by itself. It's a hard destination to reach but that is the actual goal.