Small Business and Rental

Owning a small business can be rewarding, both in life and financially. All too often however, administrative tasks like bookkeeping, licensing and taxes can suck the fun out of the business and waste time that would be better spent growing your business and earning money. I can help with a lot of that, especially taxes. I can also advise you on record keeping – finding the proper balance between too perfect and not useful. The whole point of owning your own business and being self employed is controlling your own destiny. Whether the idea is to make money, self-fulfillment, or whatever other reason you started your business, I want YOU to control your business, not the other way around.

I prepare taxes for all manner of small businesses and have experience helping taxpayers manage their growing businesses. I can help minimizing taxes while avoiding mistakes that hurt the business more than they help the taxes. I can assist with record keeping and understanding how to grow your business. One of the biggest challenges of a growing business is understanding the balance between the need to stay on top of the administrative side while not letting it steal time away from the making money side.

I do not prepare returns for partnerships and S Corporations but I can tell you when it is time to explore transitioning into one of these. I can help you understand the benefits and drawbacks, and I can refer you to an expert to finish the transition and take over your taxes seamlessly when this happens. Same principal with payroll. I do not do returns for businesses with W-2 employees, but am fine with contractors. If your business grows in this direction, I can help you get there and transfer you to another expert when it is time.

I have extensive experience with rental property. The most important times in a rental are the first year and the last year. Though really it is the SECOND to last year that is critical. Preparing for and understanding the tax implications of selling are CRITICAL. The first year is when you make all the decisions that you will either be happy with or regret for the rest of the time you own a rental property. I make sure we get these right!

I am a MASTER of what I do rather than just okay at everything!

I don’t try to do everything. There is too much out there to know. Preparers who try to be everything to everyone simply cannot stay on top of everything there is to know. I focus on the 1040 Form, Estates and Trusts. Nothing else. This lets me be GREAT at personal and small business taxes instead of just okay, or even bad at everything.

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