Over the last week I, along with 10 million others ๐, saw Dan Koe's X article on how to change habits realistically. If you didn't see it, it's worth the read โคต๏ธ DAN KOE @thedankoe http://x.com/i/article/2010742786430021632 4:31 PM โข Jan 12, 2026 3326 Retweets 29272 Likes Read 474 replies This resonated because one theme that constantly comes up in new client calls is a dissonance of tax efficiency. Business owners are unsure if they are being the most efficient they can be and want help from...
20 days agoย โขย 4 min read
This is it. We've reached K1 season again ๐ - where returns are rushed out before March 31 only to sit with the LP's CPAs until October 14th at which time all the questions come. But how can you, as either a LP, GP, or an advisor, look at the K1 in March and tell if something is off? ๐คทโ๏ธ I'm glad you asked. Today, we're jamming on 5 things โ to check when you first get the K1: Debt classification and allocation Distribution and contribution amounts Capital account ending balance QBI allocated...
27 days agoย โขย 5 min read
One of the most confusing parts of the recent tax bill that passed in July was the different effective dates. ๐ Some parts were effective retroactively, some immediately, and others not until 2026. With a new tax filing season barreling down upon us, I wanted to share a reminder of the items that impact 2025 ๐ - with a focus on small business and individuals. Note this is not a comprehensive list, so as always chat with your tax pro for specific impacts to you! Individual Provisions No Tax on...
about 1 month agoย โขย 5 min read
In the world of small business and private real estate, accounting is a necessity ๐ค - but good accounting is a luxury. ๐ One of the differences in a seasoned business owner ๐ด and novice ๐ฉ๐ผ is how seriously they take the need for smart people on the accounting team. Because accounting salaries are usually far less than the sales team is making, it's an opportunity for leverage ๐ช - and is much more than a "sunk cost" or "cost of doing business." Here are a few ways I've seen firsthand how...
about 1 month agoย โขย 3 min read
S-Corps are a tool ๐งฐ like any other tax strategy - not a one-size fits-all solution for every business. And in most cases, businesses with debt or multiple owners should actually be a partnership, ๐ค with S-Corps layered in the org. chart along the way. But if you have made it past my S-Corp gatekeeping, I wanted to share a quick-hitting list of 5 ways to still mess it all up: Profit distributions being unequal โ๏ธ Partnership Terms in the Operating Agreement โ๏ธ Reasonable Salary ๐จ๐ญ...
about 2 months agoย โขย 5 min read
Every December, I talk to business owners who are scrambling to cut their tax bill at all costs. Buy a new truck. ๐ Don't deposit checks from customers. ๐๏ธ Prepay invoices to vendors (my favorite as a vendor, personally). ๐โ๏ธ But when does it make sense to take the medicine and pay the tax? It all depends on (1) what you want to retire with, and (2) how you'll make it. Let's talk Tax Strategy 301. โคต๏ธ The Benefits of Paying the Tax - Low Tax-Cost of Basis Paying a ๐ค little tax now can save...
2 months agoย โขย 3 min read
Freakonomics is a classic read about initially uncorrelated outcomes. ๐ One of the more memorable correlations is how diapers and beer were purchased together at grocery stores. It seems weird at first until you think about young dads at the store to buy diapers and likely not being able to go out to a bar and drink. ๐บ Tax strategy works the same way. ๐ Business owners and tax pros alike can approach each tax strategy as a standalone tool. A Roth conversion is a part of retirement planning ๐จ๐ฆณ...
3 months agoย โขย 4 min read
Ten years ago, I met with my business development partner and shared with him this idea of documenting and sharing the tax strategies each client was using. ๐ It would make us intentional strategists - having to commit to strategies and execute on them. The idea floundered in that firm but it stuck with me. Fast forward to 4 years ago when I left Baker Tilly and shared the same idea with my now partner, Mitchell Baldridge. We doubled down into the idea and have built out work-up's and...
3 months agoย โขย 4 min read
A powerful unlock ๐ in small business is owning your own real estate. It protects you from rent increases and inflation ๐ It accretes to your balance sheet the value of a reliable tenant (yourself) ๐ค It opens up additional and creative ways to finance business operations with tax benefits ๐ค But that last point isn't a slam dunk. Section 469, the passive activity loss rule from 1986, treats all rental real estate as a passive activity by default. Any depreciation losses from that real estate...
3 months agoย โขย 5 min read