tax

Blood, sweat, and tears: the labor of love you pour into your business every day. It may be priceless from your standpoint. But will it have a fair market value on the street?

Here’s a question for you: How do you accurately translate your net worth?

A hundred dollars an hour?

A thousand?

Okay, we know, you’re worth every penny, but regardless of what it says on paper, you won’t be able to calculate the true value of your efforts until you have been paid. And by the way, don’t assume donating those hours will result in a big fat deduction at tax time.

What About Charity Donation?

When you donate time to a charity or you’re looking to deduct … Read more →

As a small business owner, you do everything you can to remain profitable. You carefully watch expenses, you work long hours, and you strive for efficiency.

One of the expenses you can’t avoid as a small business owner is taxes. If your business makes money, you’re going to owe taxes. Fortunately, there are plenty of small business tax deductions available that help.

Here are some of the most overlooked small business tax deductions, and what you can do to take advantage of them:

Child labor

Of course, we’re not talking about sweatshop conditions for poor inner-city children here. We’re talking about putting your own family to work in your small business.

Depending on the amount that you pay your children … Read more →

NFL players make more in a year than most people will see in an entire lifetime.

Don’t believe me? In 2016:

Ben Roethlisberger made $17,750,000, Philip Rivers made $22,000,000, Tom Brady made $28,764,705, Von Miller made $25,100,000, and the New Orleans Saints paid Drew Brees a whopping $31,250,000.

 

Meanwhile, the average annual salary in America is $51,539. That means that you would have to work for more than 600 years to make as much as Drew Brees made last year.

Despite the fact that they make so much more than you do, sometimes it seems like they pay virtually nothing in taxes, doesn’t it? Now, the truth is that a lot of them use pretty shady, sometimes even bordering … Read more →

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