What do you feel when you get a letter in the mail that says, audit? Panic, worry. We take care of audits all the time. This is what we do. You do not have to worry about audits. We will come with great results and everything will work out. Do not panic.

It’s, it’s a huge deal. This, this, no tax on tick for most of our clients. I don’t know what your thoughts on, on that. This will be a deduction that will be on federal income tax and there’ll probably be some new wrinkles, I imagine as far as W2 reporting those tips and how Read More

Are you serious about giving back to your community? Listen up. Philanthropic giving is a huge part of the PLR culture and it plays a huge role because we’re able to help our clients through various types of giving. For example, client of mine is a high income earner at the end of the year, Read More

I don’t know if you saw the one about wagering losses, right? That you can only deduct your wager earning your betting losses versus you know the wins to offset your wins. Now there’s an additional provision that says you can only deduct 90% of your losses against your wins. So like at a certain Read More

We took on some new clients. One was a criminal attorney and one was a family attorney and they wanted to partner to make one law firm. I was able to set up a certain structure whereby each of them could not only have the same stuff that they would pay for and then different Read More

The Augusta rule is very interesting. It has been abused significantly out there in the public if it’s not a business purpose, and he’s trying to make it a business purpose. He’s just wasting money by all the costs of throwing this party. Even though these businesses are getting a deduction for renting out the Read More

Bad advice can cost you big time. Corporate structure is essential to choosing your formation when you’re setting up a new business. We had a client come in after they had been set up into a particular structure that was not advantageous for them because the CPA prior hadn’t collaborated with the client and the Read More

I saw there’s now a deduction. When you buy a car starting next year, you have to meet requirements. It’s not, it’s kind of, it seems to be replacing the EV credit that we had these last few years. It’s that if you buy a car and you finance it, there’s the interest on that Read More

I had a client who received an audit notice, and they were so petrified. I got my team together, had all the documents in place. We were planning this since we took on the client to protect him in this audit, and at the very end, the $5 million audit adjustment was removed and he Read More