Year: 2023

Budgets are a fundamental aspect of financial management that affects businesses and individuals alike. Budgeting involves making a detailed plan of projected income and expenses for a specific period, most commonly in a fiscal year, to meet organizational or personal goals. In the business world, budgets play a crucial role…

As we go through life, we tend to accumulate more and more assets. Whether it’s a new home, a new car, or even a new hobby that involves expensive equipment, the things we own often become an extension of our identity. Unfortunately, as our assets grow, so does our potential…

In today’s fast-paced world, the popularity of crowdfunding platforms like GoFundMe has soared, offering a glimmer of hope to those facing financial burdens. However, it is crucial to recognize that such platforms are not a substitute for a comprehensive insurance policy. In this blog, we will explore the benefits of…

When it comes to establishing a business entity, many entrepreneurs are often drawn to the simplicity and limited liability offered by a Limited Liability Company (LLC). However, it is essential to understand that an LLC might not always be the optimal choice for every business. While an LLC does provide…

Student loan debt is a significant financial obstacle for millions of Americans. According to the latest data from the Federal Reserve, outstanding student loan debt has reached a staggering $1.73 trillion. As an accountant and tax strategist, I’ve seen firsthand how this debt can crush the dreams of recent graduates…

Under a Progressive Tax Code, people who make more money are taxed at a higher rate than those who make less money. On the other hand, the flat tax code taxes everyone regardless of income level. While it is perceived that the progressive tax code generates more government revenue by…

As an accountant, I often hear business owners express frustration at having to pay taxes on their income. Some go so far as to think that the goal of their company should be to minimize profits in order to reduce their tax burden. However, this kind of thinking is misguided…