Small Business

The Master Archive!

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The Dangers of a Side Gig

By Keith Schroeder / April 19, 2017 / 2 Comments

Tax season is officially over and not a moment too soon. As much as I love the work, when months go by without a day off it begins to wear on me. The worst part is the sitting. Too many hours planted in a chair coupled with sleep deprivation and health is not getting the…

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It Pays to Have a Hobby

By Keith Schroeder / April 12, 2017 / 11 Comments

The demographic reading this blog does the things necessary to retire early. The same demographic believes in a side hustle to retire even earlier or to fill time once work becomes an elective. These facts make hobby rules an important consideration. The tax law has a massive loophole few use. Accountants in the room will…

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Applying Cost Segregation on a Tax Return

By Keith Schroeder / March 27, 2017 / 0 Comments

A few weeks ago I wrote about the massive tax benefits to investment property owners and business owners who also own commercial real estate using a cost segregation study. Some of you took me up on the offer and now are up for a significant tax reduction. Then the problems started. I didn’t anticipate the…

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Stop Paying Your Quarterly Estimated Taxes!

By Keith Schroeder / March 22, 2017 / 1 Comment

  When life is good the revenuers have a way of raining on the parade. A large year-end bonus, mutual fund distribution, or large year-end sale at your business can crimp your tax situation in more than one way. A quick call to your accountant gives you the answer: Make an estimated tax payment. But…

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It’s a Small World

By Keith Schroeder / March 20, 2017 / 3 Comments

There is a ritual the accounting profession goes through every autumn. Eager tax professionals attend continuing education programs to hear all the latest tax law changes with interpretation. Large hotel venues fill with CPAs, enrolled agents, and even attorneys eager to learn. The room is filled with tax professionals all from within a hundred miles.…

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Why Trade Wars Never Work

By Keith Schroeder / March 17, 2017 / 1 Comment

An old nemesis has returned to the United States and other nations around the planet: protectionism. These leaders, and the voters who bought their snake oil, falsely believe protecting their borders by building walls, taxing imports, claiming currency manipulation and threatening to dissolve trade agreements will bring jobs back home. They’re wrong. What these well-intentioned…

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What the Wealthy Accountant Owns and Why

By Keith Schroeder / March 13, 2017 / 20 Comments

In my last post I discussed how difficult it is for personal finance bloggers to find fresh material. There are a few areas where fresh material is always available: spending reports, net worth reports, and investment reports. My spending is boringly low so I rarely share those numbers. Net worth reports are fun to watch…

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Get a $100,000 Gift from the IRS Using Cost Segregation

By Keith Schroeder / March 1, 2017 / 8 Comments

In the past I shared ideas that saved you $10,000 or more per year. I also shared numerous other ways to reduce your tax burden by smaller amounts. And, of course, retirement accounts and the Health Savings Account provide plenty of tax reducing power, too. That is all small change compared to what I share…

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