Common Tax Mistakes to Avoid this Filing Season

As a high-income business owner, navigating the complexities of tax planning is essential to ensure your financial success. Filing your taxes accurately holds immense significance, serving as the cornerstone of your financial stability and business integrity. It’s not just about meeting legal requirements; it’s about optimizing your tax strategy to minimize liabilities and maximize savings.…

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Financial Recordkeeping Essentials for Smooth Taxes

Is the chaos of tax season getting to you because your financial recordkeeping is in disarray? You’re not alone; the majority of Americans share the stress, with 40% citing information gathering as the most daunting part. But fear not! We can show you how to approach financial recordkeeping for seamless tax filing. By implementing effective…

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Planning your Dream Retirement: A Guide for Individuals

Retirement planning is crucial to achieving a secure, fulfilling post-work life. Having a clear vision of your retirement goals and identifying effective strategies to meet these goals can ensure financial stability so you can enter retirement without worrying about your financial future. However, finding the best retirement strategies to guarantee stability is challenging for many…

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How to Hire Your Business’s First Employee

staff wanted sign hanging in a business window

As a business owner, getting extra help is a crucial step towards growth. Here’s what you need to do when hiring your first employee. Key takeaways: Decide between a regular employee vs. contractor Get tax ID numbers Register with the labor department Gather the right forms Set up a payroll system Create a benefits strategy…

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Do I Have to File Multiple State Tax Returns?

remote worker outdoors with coffee and computer

Working in more than one state? You might need to file multiple tax returns. Key takeaways: You need to file multiple state tax returns if you live in one state and work in another, moved states and employers, or received income property from a place you own in another state. A non-resident is someone who…

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8 Tips for Running a Family Business Well

family business employees smiling in a restaurant

It’s challenging to keep strong emotions and conflict out of family businesses. These tips will help ensure operations stay on track.  Key takeaways: 8 tips when running a family business: Consider the domino effect Let go of grudges Improve communication Create clear work boundaries Stay objective Set clear roles and responsibilities Focus on the benefits…

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What to Know About Taxes When Working Abroad

self-employed worker in a hammock with computer and coffee

More people are becoming digital nomads, living and working in other countries. Here’s what you should know about US tax obligations if you work abroad. Key takeaways: You still must file a tax return and pay any applicable taxes in the US when living and working abroad. You may qualify for the foreign earned income…

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How a Spousal IRA Works and the Benefits

a notepad with spousal IRA written on it

A spousal IRA allows a working spouse to contribute to a non-working spouse’s IRA under specific conditions Key takeaways IRAs can create tax savings while providing future retirement income A non-working spouse might not be eligible for a regular IRA But the working spouse can make contributions to a spousal IRA This arrangement benefits the…

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5 Problem-Solving Tips for Business Owners

business owner talking to a team about solving a problem

Business problem-solving is not always straightforward, and it requires collaboration, creativity, and a deep dive to uncover the root cause. Key takeaways: Identify and address the root cause Know when to delegate Take time to outline your thoughts Ask for new perspectives Use the EOS Toolbox™ and the Issue Solving Track™ Solving problems is a…

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