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Owners Contributions Post Sale

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March 15, 2022

Ron Parisi

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 business?&rd...

IRS Problems - Things You Need To Be Aware Of

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February 22, 2022

Ron Parisi

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 receiving, ...

Retirement Plans For Entrepreneurs - Which Is Best

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February 08, 2022

Ron Parisi

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 self-employed indiv...

How To Prepare For Tax Season As An Entrepreneur

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January 25, 2022

Ron Parisi

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 ...

Business Exit Strategies: What To Consider When Selling Your Business

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January 11, 2022

Ron Parisi

Today we’re tackling an important question about your business exit strategy. CPA On Fire’s managing member, Ron Parisi, spoke with John Lee Dumas of Entrepreneurs On Fire about this very topic. He dove into EOFire’s assets – their brand, audience, sponsor...

Small Business Statistics - What You Want To Know

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January 04, 2022

Ron Parisi

When it comes to running a business, there are some statistics you will want to know. Whether you are already an online entrepreneur or just tossing the idea around in your head, you will want to keep these in mind. CPA On Fire is partnered with Reach Reporting and they recently ...

ARE YOU READY FOR S-CORP STATUS?

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December 20, 2021

Ron Parisi

If you have ever read an article or blog about saving taxes as an online entrepreneur, you’ve heard of the S Corp election. The main benefit of an S Corporation is potentially to save on taxes, in particular on self-employment tax (SE tax). THIS DECISION REQUIRES CA...

HOW OUTSOURCING YOUR FINANCIALS CAN BENEFIT YOUR BUSINESS

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December 14, 2021

Ron Parisi

As an entrepreneur and business owner, you have a lot on your plate. Growing your business, handling your financials, managing employees and contractors. Finding ways to be more efficient and beneficial to your business is something to celebrate. So, let’s take a look at ho...

DO I NEED TO SEND A 1099?

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November 29, 2021

Ron Parisi

We’re closing in on 1099 season, so we’re here to help you determine if you need to send any or if you should expect to receive any. If you are unfamiliar, a 1099 is a tax form that a business owner sends out to both their contractors and the IRS each year, letting bo...

HOW DO I PAY MYSELF AS AN ENTREPRENEUR?

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November 22, 2021

Ron Parisi

Owning a business is a remarkable accomplishment. Being an entrepreneur comes with a large amount of responsibility; specifically, when it comes to your financials. Paying yourself as an entrepreneur is not a complicated topic, but it does need to be done correctly. The structure...

BIG PLANS FOR 2022: WHO IS GOING TO HELP YOU GET THERE?

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November 15, 2021

Ron Parisi

A few weeks ago, we talked about how important it is for online entrepreneurs to get their tax advice from a qualified tax professional. Our video blog last week talks about knowing your numbers as we get into tax time. So, we want to know: Who do you have in your corner as we he...