Midyear Tax Strategy Reports: The Secret Weapon for Business Owners Who Want to Save Big

If you’re a business owner who’s serious about saving money on taxes, midyear is the perfect time to take action. On July 12th, 2025, I wrapped up creating our midyear reports for our bookkeeping clients—and these aren’t just your standard

Can You Deduct That? Smart Tax Tips for Business Owners

If you’re a small business owner, it’s tempting to try to squeeze every personal expense into your business books. But the IRS has clear rules—and trust me, they’re not worth bending. Here’s a breakdown of some common tax strategies people

The Hard Truth About Building a Successful Business

When it comes to growing a business, there’s one reality you can’t ignore: success doesn’t come from wishful thinking. You can’t claim that you want a profitable business, aim to become a millionaire, or dream about making a big impact—and

How the QBI Deduction Can Boost Your Small Business

The recent tax legislation has delivered some excellent news for small business owners. One standout benefit is the Qualified Business Income (QBI) deduction, a tax break designed to help you keep more of what you earn. What Is the QBI

4 Irrational Reasons to Hire a Bookkeeper… | The Deduction #023

I’m reading this book called “Alchemy: the dark art and curious science of creating magic in brands, business, and life”, and one of the overriding concepts of the book is that we often do things for irrational reasons. By irrational

How to Attract Clients Without a “Crazy Offer”

Many service-based business owners believe they need to create a flashy, over-the-top offer to get clients to sign up. But the truth is, you don’t need a “MacDaddy” deal to grow your business. Instead, focus on the fundamentals that actually

How I Legally Pay My Eight-Year-Old and Get a Tax Break

Paying your kids for work they do around your business isn’t just a smart way to teach responsibility—it can also provide significant tax benefits. Here’s how I’ve set it up with my eight-year-old. Finding Age-Appropriate Work With young children, finding

The Truth About Tax “Loopholes”

When it comes to taxes, there’s a common misconception that you need to find “loopholes” to save money. The truth? There are no loopholes. What People Really Mean by “Loopholes” When you hear someone talk about tax strategies, these aren’t

Your Mid-Year Tax Strategy Report is Ready… | The Deduction #022

We all know the year is already half over, which means enough time has passed to analyze the trajectory of your business for the year – and analyze your potential tax liability. This week I’m sending out Mid-Year Tax Strategy