The Blog

Tax Estimates for Q2 are Due June 15th

Tax Estimates for Q2 are Due June 15th

If you are a taxpayer who pays quarterly estimates, 2nd quarter estimate payments are due tomorrow, June 15th. Make sure to pay before or on June 15th to avoid penalties and fees. You can pay directly through the IRS website with their Direct Pay service, or you can...

Deducting Medical Insurance Premiums

Deducting Medical Insurance Premiums

Over the last few years, medical insurance premiums – like many other things – have skyrocketed. The fortunate part for entrepreneurs is that those premiums are deductible on your taxes.   Any medical insurance premiums that you pay for mainstream insurance...

Giving Yourself Permission

Giving Yourself Permission

As an entrepreneur who wants to scale, the general rule is to cut all expenses except the absolute necessary. I’m sure you’ve heard it before, and I know you’ll hear it again. Most startup company stories detail the founder slashing expenses; only hiring the...

When to Hire a Full-Time CFO

When to Hire a Full-Time CFO

“At what revenue level do I want a CFO reviewing my business on a monthly or full-time basis?”   This is the type of question we get asked a lot. Many business coaches and business books out there talk about finances being the foundation of a successful business,...

Short-Term and Long-Term Tax Planning – No More Clickbait Please

Short-Term and Long-Term Tax Planning – No More Clickbait Please

At CPA On Fire, we are on the forefront of tax strategies for entrepreneurs. Our accountants have been doing tax planning and strategies for over 25 years, so we are well versed in what it takes to successfully reduce an entrepreneur’s taxes. There is an unbelievable...

Understanding Your Business Financials

Understanding Your Business Financials

The world is changing quickly and one of the best ways to keep up is by understanding your business financials. Between inflation, wars, and other worldwide affairs, everyone understands that things can change in the blink of an eye. The last thing you want is to find...

Owner’s Contributions Post Sale

Owner’s Contributions Post Sale

A couple months ago, we talked about business sales and exit strategies. We got a lot of positive feedback surrounding that blog and wanted to continue the discussion this week.   We get asked a lot: “What is my role as previous owner after the sale of my...

IRS Problems – Things You Need to be Aware of

IRS Problems – Things You Need to be Aware of

As many are aware, the IRS has been in a constant state of backlog since early 2020. Last year the agency received 119 million phone calls, up from 35 million in a typical year. Ongoing staffing challenges during COVID, the sharp increase in phone calls they have been...

Retirement Plans for Entrepreneurs – Which is Best

Retirement Plans for Entrepreneurs – Which is Best

There are many obstacles to go through as an entrepreneur. Navigating the waters of owning a business can be confusing and discouraging. When it comes to retirement, you might be wondering how that will work when you own a business. The rules are different for...

How to Prepare for Tax Season as an Entrepreneur

How to Prepare for Tax Season as an Entrepreneur

It’s that time of year again: time to think about your taxes. We know that this topic can be intimidating for anyone, especially an entrepreneur. Lucky for you, we’re here to make this process as easy as it can be. We have compiled a list of things that you should be...