L.A. Tax & Business Services

If you're age 70 or older, you can transfer up to $100,000 (or a total of $200,000 for joint filers) directly from your IRA to a qualified charitable organization without paying any tax.

Great Charitable Deduction Ideas Even though the higher standard deduction limits make charitable deductions harder to find, there are still great options to find tax breaks within your charitable giving. Here are some great tips.

Most owners think payroll is their biggest expense.

Sometimes...

It's actually an unnoticed mistake.

A duplicate subscription.

Incorrect sales tax reporting.

Misclassified workers.

Unreconciled bank transactions.

Forgotten recurring software.

These small leaks rarely grab attention.

But over twelve months, they can quietly cost thousands.

Smart business owners don't just look for ways to make more money.

They regularly look for where money is escaping.

That's where real profit begins.

Here's a cost that doesn't appear as a line item...

Poor financial decisions.

Buying inventory too early.

Missing tax planning opportunities.

Paying penalties that could have been avoided.

Keeping unprofitable services because "they've always been there."

These decisions quietly drain thousands of dollars every year.

The businesses that grow consistently don't just manage expenses.

They manage decisions.

Sometimes the biggest savings don't come from spending less.

They come from making smarter financial choices.

Providing a gift of stock can make sense if handled properly. Read more.

A Gift of Stock - Information is key when using this tax planning strategy Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.

A new truck.

Equipment.

Computers.

Machinery.

The question isn't just whether you can afford it.

The better question is:

Will this purchase actually improve my tax position?

Recent tax law changes have expanded first-year deductions for many qualifying business assets, but that doesn't mean every purchase is a smart tax decision. Timing, cash flow, financing, and your overall tax strategy all matter.

The best business owners don't let the tax deduction drive the purchase.

They let the business strategy drive the decision.

One of the biggest misconceptions in business is believing that a profitable month automatically means a healthy business.

It doesn't.

Your Profit & Loss Statement tells you whether you made money on paper.

It doesn't tell you:

• Whether customers have actually paid you.
• Whether your cash can cover payroll next week.
• Whether large tax payments are around the corner.

We've seen profitable businesses close their doors—not because they weren't making money, but because they ran out of cash.

Profit is important.

Cash flow is survival.

Know the difference.

Pass-through entities such as S corporations and certain partnerships offer legal protections and avoid double taxation. Does it make sense for your business?

Understanding Tax Terms: Pass-through Entities - What everyone should know Given the popularity of this business format, it continues to drive tax policy. Here is what you need to know.

Many business owners picture an IRS auditor reviewing stacks of paperwork.

Today's reality is different.

The IRS uses automated matching systems to compare the income reported on your return with information received from banks, payment processors, clients, employers, and other third parties.

When something doesn't line up, it can trigger a notice long before anyone manually reviews your return.

That's why accurate bookkeeping matters every month—not just at tax time.

Good records don't eliminate every problem, but they help you respond with confidence if questions arise.