If you own a small business, you know that your income often fluctuates. When you have a great year, you usually end up with a bigger tax bill too. While that’s not necessarily a bad problem to have, there is a strategy that can help reduce your income taxes by delaying your income until future years. This strategy is called deferred compensation, and in this post, I’ll expla...

When working with clients, I often see confusion when it comes to understanding how taxes work in business partnerships. If you’re starting or growing a business with someone else, it’s important to understand what having a partnership means for your business and for your taxes. In today’s post, I’ll explain the types of partnerships you can form and how each type is taxed so...

Unlike employees who can lean on HR departments and automatic 401(k) deductions, small business owners are in charge of their own retirement savings. That might sound intimidating, but it actually allows you the flexibility to design your own retirement plan and unlock serious tax savings.

In today’s post, I’ll explain how much you should be saving for retirement and h...