As business owners, we are required to adhere to various state and federal laws. Staying in compliance keeps the wheels rolling yet sometimes businesses fall out of compliance and when this happens, it’s often much harder to rebound. Recently, our local school district notified thousands of parents that over 40 buses are suspended from operating due to a lapse in insurance 😳. Families were notified that the district needs a minimum of two days before the board of directors can sort alternative contractors to fill in the gaps. This results in hundreds of students receiving excused absences due to transportation issues. As a parent, this was an unexpected announcement and required our family to pivot so we could make alternative transportation arrangements. For the school district, it must be a nightmare! Children’s safety is paramount so I appreciate the district holding off on transporting children without proper insurance coverage. However, this is going to have wide sweeping impacts beyond the inconvenience of today. And I can only imagine the financial impact for the district and the bus, transportation contractor. As I share this, it makes me think of fellow business owners that have fallen out of compliance with their finances, whether it be tax returns, state filings, or other matters. It is much easier to have business matters in order ahead of time, rather than cleaning it up in the aftermath. Not to mention the risk and liability that could lead to penalties, fees and immeasurable stress. And in the worst case scenario, it could lead to a complete halt to business! That said, I’m here to support entrepreneurs stay in compliance and one of the best ways to accomplish this is by keeping finances in order and setting up a mechanism to monitor compliance matters. In our Skool platform, I have a few tax alerts and I encourage each of us to add reminders to our calendar for both the deadline and a couple of weeks in advance so it doesn’t sneak up on you. Anyone have tips on how they stay in compliance?

A friendly reminder that 1099 and W2 filings must be submitted today to avoid late penalties 🧐 https://www.irs.gov/pub/irs-pdf/p509.pdf On another IRS note, did you catch the mileage reimbursement rate has increased from $0.70 to $0.725 for 2026?? Those pennies make a difference 💰 - Be sure to update your records if you bill mileage to your clients or provide any mileage reimbursements. Happy Accounting!!

If you paid more than $600 last year to a virtual assistant, marketer, graphic designer, bookkeeper or other consultant and they are not incorporated, you many need to file soon ✉️ Yep, the deadline to file 1099's is extended a few days... instead of January 31 (Saturday) you'll be able to file by Monday, February 2nd!! 👉🏽 Check out this link for more: https://www.irs.gov/forms-pubs/about-form-1099-misc