You might hear from coworkers or see job posts that say “1099 only” or “contractor status.” Sometimes that’s legitimate, but in many cases, people find out after the fact that being a 1099 contractor is very different -- for better or worse. Let’s explore what changes when you move from being a
How Tax Brackets Actually Work (& How to Make Them Work for You)
If you’ve ever worried that earning “too much” could bump you into a higher tax bracket and cause you to lose money, you’re not alone. A surprising number of people misunderstand how tax brackets actually work. The good news? It’s not nearly as punishing as it sounds. Let’s clear things up and
Misunderstanding “Income” vs “Profit”: A Cautionary Tale for LLC Owners
A small business owner recently shared a familiar frustration: they were advised to reserve 45% of their income for taxes and ended up owing far more than expected. What seemed like sound advice felt more like a trap. The root of the problem? A critical misunderstanding between revenue (income) and
If Your Real Estate Professional Status (REPS) Gets Denied in an Audit
Real estate investors often hear about the tax benefits of qualifying as a Real Estate Professional (REPS). When done correctly, REPS status can unlock significant deductions, allowing you to offset W2 income with passive real estate losses. But what happens if you claim REPS based on your CPA’s
How Tariffs are Impacting SMBs in Seattle
Small businesses and startups in Seattle are facing rising costs, unpredictable supply chains, and financial pressure due to tariffs on imported goods. From arcade owners to boutique retailers, entrepreneurs are feeling the effects firsthand. Take Gary’s Place, a local waterfront arcade:
Myth-Busting: Why Do We Pay Taxes If Healthcare Isn’t Free?
For many Americans, one of the biggest frustrations with taxes is this: “If I’m paying thousands in federal, state, and local taxes each year, why isn’t my healthcare fully covered?” It’s a fair question, especially for employees whose employers don’t provide health insurance benefits. The truth
Are Physical Therapy Expenses Tax Deductible?
Physical therapy can play a crucial role in recovery after an injury, managing chronic pain, or improving mobility for people with disabilities. But when tax season arrives, many taxpayers wonder: can physical therapy costs be deducted on my tax return? The short answer: yes, physical therapy
How To Value A Startup?
No matter your industry or business model, if you’re launching a startup, there’s a good chance you’ll need outside investment to grow. And when it comes to attracting investors, one of the most persuasive tools you have is your valuation. Investors want to see numbers. A well-supported startup