Tax Deductions 101

Maximizing Business Deductions: The Key to Financial Efficiency For any business owner, navigating the labyrinth of tax laws and deductions is not just a matter of compliance but a strategic necessity. By ensuring you take advantage of all available deductions, you can significantly reduce your taxable income, thereby minimizing your tax liability. This approach is...

Is working with a Spouse a Death Knell for Entrepreneurs?

Should You Work With Your Spouse? Experts Weigh the Pros and Cons Entrepreneurs Kenner French and Liliana Faulkner debate the merits of working with your spouse in this episode of Vast Voice. While Liliana initially advises against it, Kenner offers a more nuanced perspective, highlighting the potential benefits and proposing strategies for success. Pros of...

Bookkeeping 101

Is bookkeeping important for the IRS? Ask the auditor when he or she knocks on your door. Yes. Why should I keep records? Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare...

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