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Хештеги на тему #CPA

One of the biggest perks of being an entrepreneur is that you can make a large part of your lifestyle deduction—and as a I shared last week, that includes “business vacations.” - But what is required from a documentation standpoint, and how do you calculate how much is deductible of that trip? Let’s discuss that today (it’s a thorough breakdown, so make sure to read the entire post). - First, how business travel deductions work is this: You take the number of days with business activity on the trip and divide that into your total days (not counting travel days to and from). - That is the business percent of the trip. If business percent is over 50%, then all of the flight is deductible; if it’s under 50% then none of the flight is. - Regarding hotel and meals, the deductible portion of those expenses would be based on the total business percent. - Second, you must keep an activity log of what your business activities are each day. Some examples of log activities could include: - Business planning session agendas (if it’s an annual retreat trip). - A list of prospective clients you visited in the area. - A list of office locations you visited to determine the viability of opening an office location in the city you are visiting (I.e., we have looked into opening a second Kauai office so clients vacations there would be deductible while visiting their CPA). - As long as there is business activity for a reasonable amount of time each day, that counts as a business day. I will let you be the judge on what counts as “reasonable,” as there is no set definition. - The key is, if you are going to deduct your business trips and it has a potential appearance that it’s just a personal trip—you want to make sure your documentation is strong. - Now tag an associate you want to travel with and go book some business trips! __ : @michutravel

Хештеги на тему #CPA

Getting lean is fun and it can feel good to see progress, but a lot more goes into it than slashing calories and spiking cardio (at least if you want to do it in a healthy and more long term focused manner). Getting lean (whether for a show or just for everyday) is a long process that should involve periods of time in caloric surpluses, making sure not just your mind but your metabolism is ready to diet as well. _ Key players in weight loss that often go forgotten or are dismissed are the metabolism and the metabolism’s set point. Our metabolisms always are seeking a to reach a set point of homeostasis, which is determined in part by genetics but also environmental factors like nutrition and exercise. Research has shown that we are actually able to manipulate the metabolism and it’s set point through diet and exercise to work faster and therefor burn more calories. _ However just as we can manipulate our metabolisms to work more efficiently we also can cause them to slow by jumping from fad diet to fad diet, yo-yo dieting or even just being in a caloric deficit too long. The problem then becomes that the metabolism slows and when it slows it becomes harder to lose weight and easier for the body to store fat. A slowed metabolism can make it very difficult to make progress, which often leads to people feeling discouraged when their efforts don’t get them the results they are wanting. _ While it may be tempting to jump into yet another diet phase with all the talks of summer coming up, it is important to take a step back and determine where your metabolism is at. Are you doing hours of cardio a week and eating 1500 calories to maintain your body weight? Perhaps the next best step is to actually rebuild your metabolism and work on slowly adding in calories until your body is maintaining its weight at a higher caloric intake before slowly starting a dieting phase again. _ While it may not be as exciting or fun to focus on taking care of a system we can’t see, it will make your life a hell of a lot easier the next time you go to diet, plus it’s always good to take care of our insides just as much as we do our outsides! _ Happy Monday

Хештеги на тему #CPA

When the waist hits 23" at 7 weeks out... #goaldigger #gettinit

Хештеги на тему #CPA

With today’s post I’m going to save many of you a lot of heartache if you are ever to get audited (even if it means you end up reporting more income). - The IRS requires taxpayers to pay tax on income from all sources. This means that there is no such thing as “under the table” business income. - Just because someone pays you in cash does not mean you don’t have to report the income. - Proactively using legal strategies to lower your tax bill is called tax planning. But not reporting income you receive (and worse, deleting invoices from your books because they pay you in cash) is called tax evasion. - I’m coming down hard here because most people have no idea they are evading taxes when doing this. But if you get audited and the IRS determines you failed to report a bunch of cash income, you will get hit with taxes and penalties on those amounts, and potentially worse depending on the amount. - I would greatly appreciate if you tagged a friend who could use this information. - And as always, thanks for following my page. I appreciate you. :)


Хештеги на тему #CPA

There are a number of different retirement savings vehicles, and one of the very popular ones is the Roth IRA. - The Roth is great because it allows you to put after-tax dollars into account that grows tax-free and you can access tax-free in retirement. - But because you are paying with AFTER-TAX dollars, that means that you don’t actually get a tax deduction when you contribute to a Roth. - This catches many people off guard when they first contribute because the common thought around putting retirement money away is to help you with taxes. - While you do not get a tax deduction for putting the money away now, it is still a great savings vehicle because when you need the money most (I.e., in retirement) you will not have to pay tax on those earnings. - Tag someone who should start saving for retirement!

Хештеги на тему #CPA

If you have an S-corporation and pay for your health insurance out of pocket, make sure to read this post! . I shared this in my stories a couple days ago, but had a request to create an extended post covering the topic. . Because the IRS likes to make everything unnecessarily complicated, they have a very specific way they want to see health insurance deducted for S-Corporation owning taxpayers. . The way it works is this: You take your health insurance premiums as a deduction on your personal return, as Self-Employed Health Insurance—but there’s a catch in how you report this. . The total premiums you pay for the entire calendar year need to be included in BOX 1 of your W2 from your S-corporation, deducted as Officer Compensation in your corporate return. . You then pick up the amounts as WAGE INCOME on your personal return, and finally deduct it against that wage income as Self-Employed Health Insurance. . So, in summary: 1. Deductible as Officer Comp in your S-Corp, 2. Picked up in Wage Income on your personal, then 3. Deducted as Self-Employed Health Insurance on your personal return. . As an aside, you can take the deduction whether you pay the premiums from your business account OR your personal account, and it will need to be reported the same way regardless. . If you missed this when I originally shared in my stories, be sure to check in on my stories regularly—I’m sharing my day to day activities, plus random thoughts as they come up regarding how to save on taxes!

Хештеги на тему #CPA

Expia só a NOVIDADE! Agora temos Dona do Lar no CPA I Quando a gente diz que as MELHORES CONDIÇÕES estão CADA VEZ MAIS PERTO DE VOCÊ, o negócio é pra valer! Venha para nossa inauguração NESTA SEXTA, dia 29.03, e aproveite OFERTAS IMBATÍVEIS. Vem que aqui é de coração #donadolar #cuiaba #cpa

Хештеги на тему #CPA

Start where you are. Use what you have. Do what you can.✌️❤️ . #cpa #canadianphysiquealliance #aroundthecpa #motivation #fitnessmotivation #motivational #bodybuilding #bodybuildingmotivation #instagrambodybuilding #bodybuildinglifestyle #fitness #fitnessaddict #fitnessmodel #fitnessmotivation #instafitness #igfitness #gym #gymlife #gymrat #gymtime #gymflow #gymmotivation #opa #aroundthenpc #aroundtheopa


Хештеги на тему #CPA

LETS TALK TRANSPARENCY: . I canceled my gym membership because I’m saving $80 a month by working out at my office gym right now ($960 a year). I canceled Netflix because I’m saving $120 a year. I canceled iTunes because I’m saving $120 a year and I don’t need Spotify and iTunes. I budget my grocery bill to $300 a month tops because that keeps me from buying unnecessary things. My fun budget right now is $300 for going out, that includes dinners, drinks, Uber’s, coffees, workout class dates, new clothes etc.... anything I’m not doing at home! I don’t use credit cards, I stick to cash basis because my 22 year old self built up a nice pocket of debt. Now that I’m 26 I’m cleaning up the mess my 22 year old self made financially. . There is no shame in saving money and being smart about it. I have goals that will require capital so I’m making present day adjustments that will add up to big gains in the future. . I’m owning up to being a young adult who has to be money conscious because fixed expenses like; car payments, student loan payments, rent, and phone payments add up. . Own your truth and right now I own up to mine. Emma’s truth: I am a budget conscious “broke” young adult who has no shame in turning down events because they don’t fit my budget. ♥️ #adulting



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