Tax Evasion Nightmares: Celebrity Scandals and What You Must Avoid
Tax season often brings a mix of anxiety and responsibility for individuals and businesses alike. One of the most misunderstood topics in the world of taxes is the distinction between tax avoidance and tax evasion. While the former is a legal strategy to minimize tax liabilities, the latter is a criminal act with severe consequences. […]
The One Mistake Keeping Your Business from Explosive Growth in 2025
As we step into 2025, many of us have big goals for our businesses. Whether it’s scaling to new heights, expanding our services, or simply creating more balance, there’s one key strategy that could make all the difference: delegation. I know what you might be thinking because I’ve been there too: These thoughts held me […]
Part 1: Your CPA Might Be Working Against You – Here’s How to Tell
Have you been told that your biggest expense as a business owner is payroll? Many of us have. And while wages are undeniably a large line item, they’re not actually your biggest expense. In fact, it might surprise you to learn that the most significant drain on your profits is likely taxes. Yes, taxes – […]
State Tax Loophole Every Entrepreneur Needs to Know About!
State Tax Loophole Every Entrepreneur Needs to Know About! If you’re like most small business owners, your days are packed. Between growing your business, managing your team, and keeping customers happy, there’s barely time to catch your breath—let alone think about taxes. But here’s the thing: tax planning doesn’t have to be overwhelming, and getting […]
BRICS Tariffs & Trump 2025: What Small Business Owners Need to Know
As we move into 2025, the economic landscape is poised for significant changes, especially with the re-election of Donald Trump and his stance on BRICS tariffs. This article aims to dissect what these tariffs mean for the economy, small business owners, and the broader implications from a tax perspective. What Are BRICS Tariffs? BRICS stands […]
Mastering 2024 Taxes: W-9s, 1099s, and Year-End Accounting Tips
As the year winds down, Thanksgiving and holiday festivities are upon us. While this season is full of excitement, it’s also the perfect time to prepare for tax season. The hustle and bustle of the holidays may make it tempting to procrastinate, but taking action now will save you time, stress, and money when tax […]
How Trump’s Tax Policies Could Impact Your Business: Key Takeaways for Small Business Owners
The election is behind us, and as Donald Trump prepares to step back into office, one major question looms for small business owners: How will this affect our taxes? Regardless of where you stand politically, understanding the potential shifts in tax policies is crucial for planning your finances. As a small business owner myself, I […]
How the Election Could Impact Your Taxes as a Business Owner
Every election cycle brings questions and concerns about potential tax policy changes, and this year is no different. For small business owners, understanding what lies ahead in terms of tax policy is crucial for planning and long-term financial health. Let’s dive into what to expect, especially with the potential expiration of the Tax Cuts and […]
10 Sales Tax Rule for Small Business Owners
Sales tax—just reading those words might make your head spin! If the rules around state sales taxes make you want to bury your head in a mountain of paperwork, you’re not alone. Many small business owners feel overwhelmed by sales tax laws, especially when selling across multiple states. But here’s the thing: ignoring it can […]
Phillips Business Group LLC: Houston’s Top CPA Firm of 2024
Phillips Business Group LLC has been recognized as Houston’s Best CPA Firm of 2024, raising the bar for tax advisory and financial planning in the city. Known for their creative tax-saving strategies, this firm helps small business owners reduce their tax overpayments by as much as 20-30%, thanks to an 85-point system they’ve developed specifically […]