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6 min read
Why Isn't My CPA Saving Me Money on Taxes?
I've been doing taxes for over 20 years at this point. The joke is that when I started doing taxes, I had hair. I don't anymore, or at least much less hair than I used to.
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7 min read
Can You Deduct a Business Trip That Includes a Weekend?
By Chris Middleton, Co-Founder & Tax Strategist, Make Taxes Fair You fly out Thursday for a conference. Friday is the conference. Monday you have a...
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7 min read
When Is Tax Strategy Worth It? Find Your Tier First
"Am I even big enough for tax strategy yet?" That question comes up constantly, and here's the short answer: if you're writing checks to the IRS,...
6 min read
You Know You Should Get Organized. So Why Haven't You?
Here is the strange part about getting organized. Almost nobody needs to be convinced. Ask an owner what would help most with their taxes and plenty...
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7 min read
How Much Should You Pay Yourself From Your S Corp?
Almost every article on this question warns you about one mistake. Don't pay yourself too little. Set the salary too low, and the IRS can reclassify...
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8 min read
Do You Need an LLC or an S Corp? Map Your Business First
"Do I need an LLC or an S corp?" might be the most common structure question business owners bring to us. Here's the honest answer, and it's not the...
4 min read
Is Tax Strategy “Safe”? (And Does It Increase Your Audit Risk?)
“Friends Don’t Let Friends Overpay the Government!” If you’re a business owner, you’ve probably had this thought: “If I start using tax strategies…...
9 min read
How to Build a Year-Round Tax Strategy (Not Just April Planning)
How do you build a year-round tax strategy? " Run a quarterly cadence to plan, implement, document, and review. Utilize the CLEAR EDGE pillars to...
6 min read
10 Smart Tax Moves for High-Income Entrepreneurs
What are the smartest tax moves for high income entrepreneurs? " Build a year-round strategy with the CLEAR EDGE Framework so you align entity...
5 min read
Tax Planning vs. Tax Strategy: What’s the Difference?
If you are a business owner paying more than $100,000 in taxes every year, chances are you feel the sting every time April rolls around. You work...
6 min read
What Is a Tax Strategy and Why Every High-Earning Business Owner Needs One
If you are a business owner writing six-figure checks to the IRS annually, you already know the gut punch that comes with tax season. You work hard,...
3 min read
Section 127 Plan: The $5,250 Tax-Free Bonus Business Owners Overlook
Let me ask you a question... What if you could give your employees a $5,250 raise, without paying payroll taxes, and without your team paying income...
3 min read
Short-Term: Bypass Passive Loss Limits Without Real Estate Pro Status
Short-term rentals (STRs), think Airbnb, VRBO, or furnished corporate housing, are one of the most powerful tools in real estate tax strategy. And...
20 min read
Keep the Benefits, Gain Control: Cash Balance Plan Conversions
A few years ago, one of our clients, let’s call her Sarah, came to us in frustration. She was a 51-year-old business owner, pulling in over $500K a...
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15 min read
The Solo 401(k) Power Move: Pay Less Tax, Keep More Cash
John is exactly the kind of entrepreneur we love helping. Smart. Scrappy. Growth-minded. Three years ago, he left corporate life and launched a...
18 min read
Why Business Owners Should Care About Roth IRAs
Imagine this: You're sitting at your favorite coffee shop, laptop closed, sipping your drink, while your investments quietly grow in the background,...
19 min read
Self-Employed? Here’s the SEP-cret to Slashing Taxes and Saving Big
Tyler sat across the desk with his eyes wide. “You’re telling me I can contribute $35,000 to my retirement, take a full deduction, and not have to...
17 min read
Slash Taxes, Boost Retirement: Business Owner Guide for IRAs
When Sarah launched her design business, she wasn’t just chasing income;she was chasing freedom. The freedom to work with clients she loved, set her...
15 min read
Hidden Tax of Being Your Own Boss: An Overview of Self-employment Tax
An overview of the “self-employment” tax and it’s impact on your business When Jenna quit her 9-to-5 to launch her dream consulting business, she...
14 min read
When Should I Make The S-Corp “Election” For My LLC or C-Corp?
Running a business takes guts, grit, and a whole lot of hustle. But when it comes to taxes, even the most fearless entrepreneurs often find...
8 min read
Steering Clear Of IRS Problems: Should You Buy That Vehicle Through Your Business?
Thinking about buying a van for your business? Read this first. A friend of mine sent me a quick message the other day: “Hey there! I’m thinking...
8 min read
Home Office Deductions: How Business Owners Can Save Money (and Keep the IRS Happy!)
If you're like most modern business owners, your day starts with a Zoom call and ends somewhere between a client email and a coffee refill, right...
11 min read
How High-Income Entrepreneurs Can Slash Taxes by 30% or More
Are You Overpaying Uncle Sam? Taxes can feel like a black hole—draining your hard-earned profits and leaving you wondering where your money went. For...
11 min read
How to Audit-Proof Your Tax Return: Smart Recordkeeping Tips
Imagine this—you open your mailbox, and there it is: a letter from the IRS. Your heart skips a beat, and suddenly, you're picturing auditors combing...
3 min read
Cost Segregation Studies: Unlock Hidden Tax Savings in Real Estate Investments
Imagine saving tens—or even hundreds—of thousands of dollars on your taxes by simply reassessing how your property is valued. For commercial and...
5 min read
Understanding Capital Gains: A Comprehensive Tax Guide for Business Owners
At Make Taxes Fair, we believe knowledge is power—especially when it comes to taxes. One of the most important concepts for business owners to grasp...
7 min read
Future Planning with Retirement Plans: A Strategic Guide for Business Owners
At Make Taxes Fair, we believe knowledge is power—especially when it comes to planning for the future.
4 min read
Making Taxes Fair: Reflections on "Scaling the Gap" Podcast with Madeline MacRae
We recently had an amazing opportunity to be guests on Madeline MacRae's podcast, "Scaling the Gap". We wanted to share some reflections on our...
4 min read
Stop Overpaying Taxes: Smart Strategies to Save Thousands This Year
As a business owner, watching your hard-earned profits disappear to taxes can feel frustrating. It's not just disheartening—it's often confusing. But...
14 min read
What is a Business Deduction? The Basics Every Business Owner Should Know.
Running a business is tough enough and it can seem overwhelming trying to overcome the daily hurdles. We say there is absolutely nothing “small”...
7 min read
Common Tax Pitfalls for Business Owners: How to Avoid Costly Mistakes
Running a business means wearing many different hats, and managing your taxes can be one of the trickiest. Even small mistakes can lead to hefty...
5 min read
Amortization: Understanding and Maximizing Its Value for Your Business
At Make Taxes Fair, we are not lawyers or financial advisors. Still, we love educating people on the terms, mindsets, and elements to pay attention...
6 min read
When and How to Switch Business Entities to Maximize Tax Savings
As your business grows, the structure you chose at the beginning might not be the best fit anymore. Changing your business entity can help you save...
6 min read
Comparing Business Entities for Taxes – Which One Maximizes Your Tax Savings?
Choosing the right business type is one of the most important decisions you’ll make for your business. It affects how your business is run, how much...
7 min read
C-Corporations: Understanding Double Taxation and Leveraging Fringe Benefits
When it comes to business structures, the C-Corporation (C-Corp) is often associated with large, publicly traded companies. There’s also the...
7 min read
Multi-Member LLCs and Partnerships: Flexible Business Options with Complex Taxes
As your business grows and you bring in partners or investors, choosing the right structure becomes very important. Multi-Member LLCs and...
8 min read
Sole Proprietorship vs. Single-Member LLC: Subtle but Powerful Differences
As a busy business owner, I crave simplicity. And for many small businesses, keeping things simple is so important because we already feel like we’re...
5 min read
Choosing the Right Business Entity: How It Impacts Your Taxes
Have you ever wondered why some businesses pay less tax than others, even if they make more money? The secret often lies in the type of business...
20 min read
Top Tax Evasion Traps: How Business Owners Can Avoid IRS Trouble and Keep More Earnings
Hello, Chris Middleton here from Make Taxes Fair. Let's talk about a topic that's on every business owner's mind: taxes. More specifically, how to...
6 min read
Understanding 1099s: A Simple Guide for Small Business Owners
1099’s can be confusing when it comes to a business. What are 1099’s? When do you need to send them out? How do you do it correctly the first time?...
6 min read
Mindset and Taxes: Becoming PROACTIVE instead of reactive
At Make Taxes Fair, we humbly believe that most CPAs and accountants are (without meaning to) what we call "Happy Historians." We mean no disrespect...
10 min read
S-Corporations: How to Maximize Tax Savings
If you are a small business owner who wants to lower your tax bills, setting up an S-Corporation (S-Corp) might be a great idea. An S-Corp allows you...
9 min read
How Your Business Entity Choice Impacts Your Taxes
Starting a business and seeing it ramp up is a stressful but exciting process! Exciting because you’re probably very passionate about what you do and...
6 min read
Business Bookkeeping The Magical Ingredient To Your Tax Savings
Years ago, a local radio news station called to interview me about how people can save money on taxes. I remember the conversation to this day and...
6 min read
Navigating the Tax Maze: Understanding Federal, State, and Local Taxes
Those who know me know that I'm a big fan of memes. If you don’t know what a meme is, that's ok. A meme is an image of some sort with words imposed...
6 min read
Hiring Your Kids: Tax Savings Without Breaking Labor Laws
What you’ll get in this quick read: How employing your children can save you money on taxes Why most people get this wrong Resources for executing...
6 min read
The Augusta Rule: Separating Fact from Fiction
What you’ll get in this quick read: What is the Augusta Rule Why most people miss thousands of dollars of deductions every year by not using this...
7 min read
Tax Deductions Every Real Estate Professional Should Know About in 2024
Real Estate Professionals are among the busiest professionals out there and it can be hard to find the time and energy to get all your expenses for...
2 min read
Tax Drive: Mileage vs. Expenses for Max Savings!
Miles Driven verses “Actual Expenses”... and what does that even mean?
3 min read
Tax-Smart Driving: Shield Your Vehicle from IRS Audits!
If you’re a business owner, did you know that you have to protect your car from the Government?
2 min read
How You Can Be Paid $155.25/Hr to Track Your Miles!
The IRS mileage rates for business travel are set every year sometime in December.