Sin City CFO

Sin City CFO Tax Saving Strategies , Bookkeeping & Virtual CFO for Online Business Owners

09/02/2026

The second thing that can affect your Solo 401k eligibility is having a part-time employee who becomes eligible to participate.

For 2026, certain long-term part-time employees who complete at least 500 hours in two consecutive 12-month periods may become eligible to participate in the plan.

That works out to roughly 10 hours per week, but eligibility is based on actual hours worked not simply whether someone averages 10 hours every week.

So if you have a part-time employee now and expect them to stay with your business, this is something you need to start tracking.

Once an employee meets the applicable eligibility requirements, your retirement plan may need to change.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: Solo 401k eligibility, part time employee 401k, long term part time employee, 500 hour rule, Solo 401k rules 2026, small business retirement plan, employee retirement eligibility, 401k eligibility rules, business owner retirement planning, SECURE 2.0 retirement rules

09/01/2026

A Solo 401k can be a strong option for a business owner, especially if you want to put more money toward retirement based on your compensation.

And this is where the S-Corp conversation comes in.

An LLC itself doesn’t automatically save taxes though. But having your LLC taxed as an S-Corp can potentially reduce self-employment taxes when it’s structured properly, including paying yourself reasonable compensation.

For 2026, the 401k employee contribution limit is $24,500, with additional contributions possible depending on your age, compensation, and plan.

The right retirement plan and business structure should work together, not be chosen separately.

related: Solo 401k 2026, Solo 401k for business owners, S Corp tax savings, LLC S Corp election, self employment tax, retirement planning, business owner, retirement, 401k contributions, small business tax planning, S Corporation

08/29/2026

People usually want financial planning to answer one question: What do I do with the money I’m making?

Invest it. Grow the business. Build wealth.

But protecting that wealth often gets overlooked because insurance and protection strategies can feel like adding expenses instead of building assets.

That matters when an unexpected illness, injury, or major medical expense hits.

Disability insurance can protect your income, while health insurance and an emergency medical fund can help limit the financial damage.

If you’re HSA-eligible, that can be another way to prepare for qualified medical expenses.

Need help identifying gaps in your financial protection? Send me a message or give me a call.

Listen to the full episode 98
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: disability insurance, wealth protection, financial planning, health insurance, medical expenses, income protection, HSA strategy, financial protection, asset protection, risk management

08/28/2026

Being young and healthy doesn’t protect you from unexpected medical costs.

A serious accident, emergency surgery, hospitalization, or other major medical event can create tens or even hundreds of thousands of dollars in medical bills without adequate coverage.

Health insurance isn’t just about paying for routine doctor visits. It’s about protecting your finances from expenses you couldn’t realistically absorb on your own.

One medical emergency shouldn’t have the power to wipe out years of financial progress.

If you’re unsure whether your current coverage actually protects you from a major medical event, send me a message or give me a call.

Listen to the full episode 98
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: health insurance, medical expenses, catastrophic health coverage, healthcare costs 2026, health insurance protection, emergency medical costs, financial protection, medical debt, health insurance planning, young adults health insurance

08/26/2026

Tax filing records what already happened. Tax planning helps you decide what to do before the tax year is over.

If your business earns $200,000 and has $80,000 in deductible expenses, you don’t wait until tax filing season to start thinking about the remaining $120,000 of profit.

During the year, you can review that projected profit and look at legitimate strategies that may reduce, defer, or otherwise manage your tax liability.

Once December 31 passes, some opportunities are gone or limited because the income has already been earned and the expenses have already been incurred.

That’s why tax planning should happen during the year, not when you’re handing your accountant a pile of receipts.

Want to know what tax strategies could help your business? Send me a message or give me a call.

Listen to the full episode 99
“Build Your Wealth Muscle” podcast. Wherever you listen.

relayed: tax planning, tax strategy, tax filing, business tax planning, tax liability, taxable business income, tax deductions, tax reduction strategies, proactive tax planning, small business

08/25/2026

A tax deduction is not a discount. If you spend $10,000 on something your business didn’t need just because it’s deductible, you just burned cash.

This is the single biggest cash-flow mistake business owners make: focusing on the write-off instead of asking whether the expense actually makes sense for the company's bottom line.

Think about the raw cash-flow math:

If you are in a 30% combined tax bracket and spend $10,000 on unnecessary equipment or software, you save $3,000 on your tax bill, but you are still down $7,000 in net cash. You spent real money to buy a minor tax break.

The Golden Rule:
A good tax strategy isn’t manufacturing extra spending before December 31st. You need to find legitimate, legal ways to reduce taxes on expenses you were already planning to incur or investments that genuinely drive revenue and growth for the business.

Spend for business necessity first, and optimize for taxes second.

Want to build a real tax strategy that protects your net cash flow? Send me a message or book a call.

Listen to the full episode 99
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: tax deductions, business tax deductions, tax planning, tax strategy, small business taxes, business expenses, tax savings, deductible business expenses, tax write offs, business financial planning

08/22/2026

Writing a check on December 31st for next year's coaching or conferences doesn't automatically mean you get a tax write-off today. Tax planning isn’t about spending cash just to manufacture a deduction.

If you already know your business has essential, legitimate expenses coming up next year, like continuing education, trade conferences, travel, or coaching, evaluating whether to prepay them can be a smart move.

However, the tax treatment of prepaid expenses depends heavily on your accounting method (Cash vs. Accrual) and specific IRS timing guidelines:

1. The Cash Method & The 12-Month Rule: Under IRS Treasury Regulation § 1.263(a)-4(f), cash-basis taxpayers can generally deduct a prepaid expense in the current tax year only if the benefit or service does not extend beyond 12 months, and does not extend beyond the end of the tax year following the year of payment.

2. The Accrual Method & Economic Performance: If you use accrual accounting, simply paying cash upfront isn't enough. Under IRC § 461(h), you generally cannot deduct the expense until economic performance occurs, meaning the services or property are actually provided to your business.

Accelerating an expense into the current year might save you tax today, but it removes that deduction from next year's ledger. Effective tax planning looks beyond a single calendar deadline to manage your cumulative tax burden over time.

The goal is to make strategic decisions that reduce your overall tax bill while keeping your cash flow healthy.

Want to analyze your year-end expense acceleration options before December 31st? Send me a message or book a call.

Listen to the full episode 99
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: year end tax planning 2026, prepaid business expenses, business tax deductions, tax planning strategies, cash basis accounting, prepaid expenses, business travel deductions, continuing education deduction, small business tax planning, tax strategy

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