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From the
planning table.
THE PHELIX NEWSLETTER · ISSUE NO. 1
Real cases, real numbers, no fluff. Every month we take one situation we've worked through with an owner, strip out anything that could identify them, and show you what we saw and what we did about it. Short enough to read over coffee. Timed to what you should be thinking about that month.
In this issue
“Some people call it luck. We call it planning.”
CASE OF THE MONTH
The surprise that keeps coming back
QUICK HIT
Reconcile before you plan
QUICK HIT
Placed in service by December 31
QUICK HIT
The deduction that isn't
What to take away
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Bring this year's profit and loss to your CPA meeting and reset your estimates to it
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No return, no tax strategy: revenue, payroll and the tax bill have to agree before anyone builds a plan
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Bought property this year? Ask before December 31 whether it counts as placed in service
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An executive bonus in an S corp often nets to zero. Ask what you actually keep
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The 20% qualified business income deduction is now permanent. Ask whether you're getting it
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Home care owners: pull a payroll report of hours by employee. How many caregivers cross 1,000 hours decides whether a retirement plan helps you or costs more than it saves
