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Working with a CPA effectively requires understanding both what to do and what to avoid to create a productive professional relationship that benefits your business.

• Be organized when providing documents rather than dropping off unsorted boxes
• Avoid piece-mailing documents and instead provide complete packages when ready
• Consolidate questions and communications to respect your CPA's time
• Ask questions to understand your tax situation and learn from your CPA
• Plan ahead for taxes and save a portion of profits throughout the year
• Set clear expectations about which specific services you need from your CPA
• Respect their time as a professional service provider who bills for consultations
• Don't wait until the last minute to submit documents during busy season
• Never ignore tax deadlines or expect your CPA to care more about your business than you do
• Understand that CPAs cannot eliminate all taxes, only help minimize them legally
• Keep business and personal finances completely separate
• Budget for CPA fees as a regular business expense
• Don't assume your CPA handles everything without specific agreements
• Feel comfortable switching CPAs if the relationship isn't working well

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We tackle the critical but often overlooked task of proper bookkeeping for business owners and share how avoiding common mistakes can save you thousands of dollars and countless headaches.

• Bad bookkeeping comes in many forms—from procrastination to incorrect QuickBooks entries
• Cleaning up messy books often costs more than starting from scratch
• Hiring an inexperienced bookkeeper can be more costly than doing it yourself or contracting an external accountant
• Monthly bookkeeping creates visibility into your finances and helps avoid tax surprises
• Regular review of financial reports is essential to catch errors before tax filing
• Separate business bank accounts are crucial even for simple businesses using spreadsheet accounting
• Setting regular calendar appointments for bookkeeping helps maintain financial clarity year-round

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We decode the confusing rules around when children and dependents need to file tax returns, covering both W-2 employment income and 1099 contractor payments.

• Children with W-2 income under $14,600 (2024 standard deduction) don't need to file unless they want to claim a refund
• Parents can still claim college students as dependents if providing over half their support
• 1099-NEC income has a much lower threshold - children must file if they earned over $400
• Self-employment taxes (15.3%) apply to 1099 income even when income tax doesn't
• Always track and deduct business expenses to reduce taxable profit on 1099 income
• Common deductions for teen workers include certification costs, mileage, and equipment

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