Private Practice Accounting Blog

30

Oct

Team

Can We Meet In Person?

Can We Meet In Person? I am often asked where TL;DR is located and if a client can meet in person. I am normally located at the SLU WeWork in Seattle. This week, I’m in London and working from a WeWork in Paddington. Every year, I take a few weeks to visit the east coast and my family in New York. My penchant for travel and remote work is why scheduling appointments on my calendar is so important. It’s also why we don’t take unscheduled phone calls. TL;DR: Accounting is a remote firm. Our team members work remotely from all…

Best retirement accounts for small business?

What Retirement Accounts are Available for Small Business Owners? Well…it depends (you knew that was coming right?). Before giving an answer, I always ask: How many employees do you have? Are you an S-Corporation? How much do you want to contribute to your retirement accounts? Do you want as simple a solution as possible? Three types of accounts work best for small business owners or freelancers: Simplified employee plan (SEP) IRA Solo 401(k) Simple IRA *less half of your self-employment tax What does this chart mean? A SEP IRA is very similar to a regular IRA. The contributions come from…

Time for Some Work Life Balance

The answer is to the above question is… No…that is so not deductible. As an added bonus, the IRS will revoke your passport if you owe more than $50,000. Now that this filing season has come to a close for businesses and individuals, it’s time for me to take a well-deserved vacation. That’s right — I am going on a two-week vacation. On the bright side, my team will continue to be available to answer any questions you have while I take some time away from the computer to sightsee overseas. For situations that are not time-sensitive and that require…