Questions & Answers
Clear answers to common questions about taxes, bookkeeping, payroll, and business finances.
What is the difference between tax preparation and tax planning?
Tax preparation reports the year that already happened. Tax planning shapes the year before it closes through entity elections, retirement contributions, and timing decisions. By the time a return is being prepared, most savings opportunities have expired.
Read answerWhy does my business need a tax advisor if I already have a tax preparer and a bookkeeper?
A preparer files what happened. A bookkeeper records what happened. Neither role includes finding what should happen next, which is where most tax savings live.
Read answerWhat does year-round tax planning actually look like month to month?
Year-round planning means regular check-ins, quarterly projections that drive accurate estimated payments, mid-year sessions while changes can still be made, and year-end planning before December 31 closes the window.
Read answerHow much can tax planning actually save?
It depends on your income, entity structure, industry, and how much planning has been left undone. Planning engagements commonly identify five-figure annual savings, and six figures for high earners with complex situations. Every number is a range for your specific situation.
Read answerWhy would a CPA firm review my last three years of tax returns?
A CPA reviews prior returns to find what was missed and what can still be fixed. Some errors and missed deductions are recoverable through amended returns. Others simply inform better planning going forward.
Read answerWhat should I understand about my own tax return?
Every taxpayer should know what entity filed, what income was reported, what the effective rate was, what drove the biggest numbers, and what changed from last year. Most people have never had a return explained to them, which is why we walk every client through their filed return.
Read answerWhy do you charge fixed prices instead of hourly?
Hourly billing makes clients afraid to call, which is the opposite of what planning requires. Fixed pricing means advice is included, additional work is approved before it begins, and the bill is never a surprise.
Read answerWhat does CFO advisory add on top of good bookkeeping?
Bookkeeping records the numbers, while CFO advisory reads them, spots trends, forecasts cash flow, and provides guidance when decisions come up. Most businesses have clean books and nobody analyzing them.
Read answerWhat did the 2025 tax law actually change for business owners?
The 2025 tax law rewrote the planning playbook. Bonus depreciation is back to 100 percent and permanent, Section 179 limits roughly doubled, the QBI deduction is permanent, and research costs are expensable again. Owners running on old assumptions are leaving money unclaimed.
Read answerIs 100 percent bonus depreciation really back for good?
Under current law, yes. The 100% bonus depreciation allowance has been restored for qualifying property acquired after January 19, 2025, and this time it is permanent rather than phasing down. Property placed in service since the effective date may qualify through an accounting method change.
Read answerHow much equipment can my business write off this year under Section 179?
The Section 179 deduction cap sits around $2.5 million for 2026, with a phaseout beginning near $4 million of total qualifying purchases. The limit applies per taxpayer across all businesses combined.
Read answerWhat is the QBI deduction and do I still get it?
The QBI deduction lets pass-through business owners deduct up to 20 percent of their qualified business income. Congress made it permanent in 2025, though income thresholds and service business rules still apply.
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