Author: D Allen
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4 Way to Depreciate an Asset for Unbelievable Tax Savings
There are different ways you can depreciate an asset. These methods can give you different results at different stages of the use of your business assets. Whichever method you use, be consistent and use the same method for the asset in question. Track the value, method of depreciation, and deductions on a table using excel… Read more
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How to Take Deductions on Every Major Asset by Capitalization
Depending on your business, you may need to make some large expenses and deduct asset costs. How are those treated as deductions? In this post, you’ll learn how to ‘capitalize’ a deduction. Capitalizing is the main way to deduct the value of an asset. For instance, take a $10,000 truck for your lumber company. The… Read more
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Maximize Your Home Office Deductions – Save Thousands Easily
In a previous post, we talked about deducting a part of your mortgage or rent on your taxes if you operate an office in your home exclusively for your business. We also discussed when that is allowed by the IRS. Now we’ll discuss how to maximize your home office deductions. But the fun doesn’t end… Read more
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Let’s Meet Your Business Goals
Let’s talk about meeting your business goals. Schedule a strategy call with me. It’s free and we talk about the specifics of your situation. We’ll discuss how to make your reporting more accurate, more consistent tax deductions, and to make the best business decisions. You can also send a message through contacting me here. Read more
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Know What’s Going on in Your Business
Proverbs 27:23 ESV – Know well the condition of your flocks, and give attention to your herds. Know what’s going on in your business. This is a wealth building wisdom post. To see more explaining proverbs like this, read the others here. In the old testament world, it was very common for herds and flocks… Read more
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The REAL Reasons Why the Rich Save Money (Have NOTHING to do With Money)
The real reason rich people save money (has nothing to do with money) This post is from the Wealth Building Wisdom Category and explains why the rich save money. To read another post that uses Proverbs like this, check it out here. Proverbs 21:20 ESV – There is treasure to be desired and oil in… Read more
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Maybe you need better financials
Maybe you need better books. Schedule a free strategy call to discuss how I help business owners just like you save 80+ hours per year streamlining their bookkeeping process and save thousands of dollars. Read more
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Your EIN – What is it? How to Get an EIN Easily
Some places like your bank, accounting software, and certain tax forms ask for an EIN. But what is an EIN, and how do you get it? You may have been asked for an EIN in the past and then told your social security number will also work. What’s up with that? An EIN stands for… Read more
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Single Member LLC or Sole Proprietorship? How are they different?
Single-member LLC or Sole Proprietorship? Which one will you choose, or did you choose one already? If you haven’t chosen a structure for your solo business yet, check these differences here and see which business structure is right for you! Both can be owned by just one person! For help with this and other decisions,… Read more
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“New Business? Here’s When to Hire a Bookkeeper to Stay Profitable”
This is the first of what will be several posts on starting a new business. A bookkeeper is important, but you need to know when to hire a bookkeeper. There are a lot of things to do and pay for before you start a business. One thing you may want to factor in with your… Read more