Knowing how to pay yourself as an LLC owner is extremely important. How you pay yourself will directly impact your personal finances and the amount of taxes you pay. Many LLC owners pay themselves without understanding the consequences of both. They take money out of their LLC without understanding the tax consequences. Or they pay […]
How To Pay Yourself as an LLC (And Lower Taxes) Read More »
The term “tax write-off” gets thrown around a lot. But what exactly does it mean? For many, understanding tax write-offs is the trickiest part of doing taxes. There’s a fine line between expenses you can write off and those you can’t. And missing a single tax write-off could result in overpaying your taxes. That’s why
What Is a Tax Write-Off and How Does It Work? Read More »
If you are audited and do not have receipts, you increase the risk of owing more money to the IRS. However, you may still win an IRS audit without receipts and this post examines this topic in detail. Sadly, many small business owners claim tax deductions without keeping up with their receipts. Meanwhile, the IRS
What Happens If You Get Audited and Don’t Have Receipts? Read More »