Riley's Tax Service

10/24/2026

🍂 FALL TAX TIP FOR MY BUSINESS OWNERS🍂
The weather is changing, the holidays are coming… and before we know it, TAX SEASON will be here! 👀💰
If you own a business or have a side hustle, please don’t wait until January to start figuring out where your money went.😂🧾
Now is the perfect time to start getting organized:
🍁 Review your business income
🍁 Gather and organize your receipts
🍁 Separate personal & business expenses
🍁 Make sure you’re keeping records of business-related purchases
🍁 Start a tax folder so everything is in ONE place
A little organization now can save you a whole lot of stress when it’s time to file! 🙌🏾
And if you’ve been saying, “I’ll worry about taxes later…”😭😂 Consider this your friendly reminder that later is getting closer!💙✨
📌 Business owners & side hustlers: Are your 2026 receipts organized right now?
Be honest… 😂👇🏾

10/24/2026

💡Tax Tip✨ We CAN'T Explain this enough:
If you’re self-employed (sole proprietor, freelancer, independent contractor, or gig worker), these IRS tax tips can help you stay compliant and avoid surprises:
* Report all business income, even if you don’t
receive a Form 1099. All taxable income must
be reported.
* Keep records of your business expenses.
Ordinary and necessary business expenses—
such as supplies, mileage, advertising, and
some home office expenses—may be
deductible if you qualify.
* Pay self-employment tax if your net earnings
from self-employment are $400 or more. Self-
employment tax covers Social Security and
Medicare taxes.
* Make estimated tax payments if you expect to
owe at least $1,000 in tax when you file. Self
employed individuals generally pay estimate
taxes quarterly.
* You can deduct the employer-equivalent
portion of your self-employment tax when
figuring your adjusted gross income.
Let one of our preparers at Riley's Tax help answer your questions. Schedule your consultation today.

10/22/2026

Whether you fly or drive for business purposes, you may qualify for a deduction for your . Check out this handy publication to learn about all the qualified deductions you can report next year. Make sure to keep record of the expenses you're planning to deduct.

Prepare for your next business trip at www.irs.gov/pub463.

10/22/2026

THANK YOU ! We were chosen as the Platinum Winner in our category.

10/22/2026

TAX TIP THURSDAY: Employees get taxed first and live on what’s left. Business owners get taxed last and keep the difference. 😮‍💨
That’s not because rich people found some magical loophole. It’s because they learned rules. Here are 3 legal tax strategies business owners use to keep more money:
1️⃣ Home office deduction
2️⃣ S corp election
3️⃣ QBI deduction
The tax code rewards ownership, job creation, and asset building. Employees, by definition, don’t get rewarded the same way. It’s not personal. It’s structural.
And this isn’t cheating. It’s homework. 📚💸
Talk to a tax preparer at Riley's Tax & Start paying attention. And follow for more of what nobody taught you.

10/22/2026

Did you know... 🤔
These 5 tax facts as a business owner?:
1️⃣ Your business can pay for your cell phone.
If you use it for work, you can deduct the business-use percentage. Same goes for internet, software, and that "office" corner of your house.
2️⃣ Separate business and personal finances
• Open a dedicated business bank account and credit card for your business.
• Makes deductions cleaner, audits less painful, and bookkeeping faster
• Essential for LLCs and corporations to preserve liability protection
3️⃣ Your hobby might be a business.
If you're making money and treating it like a business—tracking expenses, keeping records, acting with profit intent—the IRS may see it that way too. That means deductions you might be missing.
4️⃣ Paying yourself a salary doesn't mean you're taxed twice.
For S-Corps, salary is a business expense (deductible). Distributions aren't subject to self-employment tax. Structure matters—and it can save you thousands.
5️⃣ Estimated taxes aren't optional.
If you're self-employed or own a business, the IRS expects you to pay as you earn—quarterly. Skip it, and penalties add up fast.
The tax code rewards business owners who know the rules. Not the ones who wait until April to learn them.
Which one surprised you most? Drop it below. 👇
Visit our website www.rileystax.com for more tax advice

Riley's Tax Service is an accounting firm Lansing, MI residents depend on. Call to schedule an appointment.

10/21/2026

Managing finances in the construction industry can be complex. From job costing to cash flow forecasting, our specialized accounting services are designed to meet the unique needs of construction companies. We help you navigate the intricacies of contract revenue recognition and equipment depreciation tracking, ensuring your financial foundation is strong. Let us handle the numbers so you can focus on what you do best. Visit our website or give us a call to discover how we can assist your business.

https://www.rileystax.com/construction-accountants

10/20/2026

ANOTHER TAX TIP:
Here are practical tax tips that help most small business owners, with notes where rules commonly apply.
⸻
1. Separate business and personal finances
• Open a dedicated business bank account and credit card
• Makes deductions cleaner, audits less painful, and bookkeeping faster
• Essential for LLCs and corporations to preserve liability protection
⸻
2. Track expenses year-round (not at tax time)
• Use software like QuickBooks, or a simple excel spreadsheet that we can provide.
• Save receipts (digital is fine)
• Commonly missed deductions:
• Software subscriptions
• Business meals (often 50%)
• Education, courses, and certifications
• Home office expenses
• Mileage or vehicle costs
⸻
3. Understand what you can deduct
Typical deductions include:
• Office supplies & equipment
• Marketing & advertising
• Internet & phone (business portion)
• Insurance (liability, health for self-employed)
• Professional fees (CPA, lawyer, consultants)
👉 If it’s ordinary and necessary for your business, it’s usually deductible.
⸻
4. Don’t miss the home office deduction (if eligible)
You may qualify if:
• You use a portion of your home regularly and exclusively for business
• Two methods:
• Simplified: $5 per square foot (up to 300 sq ft)
• Actual expenses: rent, utilities, insurance, etc. (business portion)
⸻
5. Plan for quarterly estimated taxes
If you’re self-employed:
• You usually must pay quarterly estimated taxes
• Covers income tax + self-employment tax
• Avoids penalties and big April surprises
💡 Many owners save 25–30% of net income in a separate tax savings account.
⸻
6. Choose the right business structure
Your entity affects how much tax you pay:
• Sole proprietor / single-member LLC: simple, but higher self-employment tax
• S-Corp: can reduce self-employment taxes if profits are higher
• C-Corp: useful in specific growth or investor scenarios
👉 Revisit this as your income grows—what worked at $50k may be inefficient at $150k.
⸻
7. Depreciate or expense big purchases wisely
• Equipment, computers, vehicles may qualify for:
• Section 179
• Bonus depreciation
• Can significantly reduce taxable income—but timing matters
We can help decide whether to expense now or spread deductions over time.
⸻
8. Take advantage of retirement deductions
Tax-advantaged options for small business owners:
• Solo 401(k)
• SEP IRA
• SIMPLE IRA
These can:
• Reduce taxable income
• Build long-term wealth
• Shelter tens of thousands of dollars per year
⸻
The biggest savings come from proactive planning, not last-minute filing:
• Mid-year tax checkups
• Income timing strategies
• Entity optimization
• Retirement and benefit planning
⸻

10/19/2026

🚨 TAX TIP — AND YES, I’M SAYING THIS BEFORE TAX SEASON GETS CRAZY 😂
If you’re self-employed, have a side hustle, do hair, sell products, drive Uber, DoorDash, etc… PLEASE stop thinking every dollar that comes into your account is profit.
Your income and your profit are NOT the same thing.
You made $50,000? Cool.

But how much did it cost you to make that $50K?

Supplies. Mileage. Software. Advertising. Business fees. Phone/internet used for business. And other legitimate business expenses can matter when we’re calculating your taxable profit.

And before somebody says, “I don’t have receipts…” 😭

That’s exactly why you need to be keeping better records before tax time—not trying to recreate your entire business from memory in February.

I’m not just here to punch numbers into my tax software. I’m here to help you understand what you’re filing and why. 💅🏽

Follow me if you want tax information that actually makes sense—because we’re not waiting until January to start getting our tax life together. 😂💰

Tax season is coming. Act accordingly.

10/18/2026

‼️THIS IS AWESOME ❤️ The IRS is becoming more "user" friendly. Their NEW app works fantastic. ( Note * You will need to use your id.me login to access the new platform). https://www.irs.gov/help/app CHECK IT OUT !!!

Download the official IRS app. See your balance due, make a payment, check your refund and more. All in the IRS app.