The Blog

Business Exit Strategies: What to Consider When Selling Your Business

Business Exit Strategies: What to Consider When Selling Your Business

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, sponsors, email...

Small Business Statistics – What You Want to Know

Small Business Statistics – What You Want to Know

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...

ARE YOU READY FOR S-CORP STATUS?

ARE YOU READY FOR S-CORP STATUS?

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...

HOW OUTSOURCING YOUR FINANCIALS CAN BENEFIT YOUR BUSINESS

HOW OUTSOURCING YOUR FINANCIALS CAN BENEFIT YOUR BUSINESS

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...

HOW DO I TAKE CASH OUT OF MY BUSINESS?

HOW DO I TAKE CASH OUT OF MY BUSINESS?

A few weeks ago, we talked about how to pay yourself as an entrepreneur and business owner. But you might still be asking yourself "how do I take cash out of my business?" If you are finding yourself needing to take other money out of your business, there are some...

DO I NEED TO SEND A 1099?

DO I NEED TO SEND A 1099?

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...

HOW DO I PAY MYSELF AS AN ENTREPRENEUR?

HOW DO I PAY MYSELF AS AN ENTREPRENEUR?

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....

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

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

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...

PERSONAL APPEARANCE EXPENSES DEDUCTIONS – HOW DO THEY WORK?

PERSONAL APPEARANCE EXPENSES DEDUCTIONS – HOW DO THEY WORK?

  Our clients ask us all the time:   Can I deduct my haircut from my taxes? I just bought some new clothes for my job; can those be deducted? What about new makeup that I bought to look better at work?   These questions make sense! Especially because we...