Abella Tax Services, Inc.

09/14/2026

𝗪𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗰𝗵𝗲𝗰𝗸 𝗯𝗲𝗳𝗼𝗿𝗲 𝗜 𝘀𝗶𝗴𝗻 𝗮 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗳𝗼𝗿 𝗺𝘆 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀?

Before you sign, check exactly what you’re agreeing to pay, how long the agreement lasts, and what each side is responsible for.

Then check the smaller details:

• Whether it renews automatically
• What it takes to cancel
• Any additional fees or charges
• When payments are due
• Any requirements you’ll need to meet during the agreement

𝙋𝙧𝙖𝙘𝙩𝙞𝙘𝙖𝙡 𝙩𝙞𝙥: Write down any part you don’t understand as you read. Then get those questions answered before you sign, instead of assuming you’ll figure them out later. A few extra minutes of reading can give you a much clearer picture of what your business is committing to.

09/11/2026

𝗛𝗼𝘄 𝗱𝗼 𝗜 𝘀𝗲𝘁 𝘂𝗽 𝗮𝗻 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗹𝗲 𝗣𝗹𝗮𝗻 𝗳𝗼𝗿 𝗺𝘆 𝗦 𝗰𝗼𝗿𝗽?

To set up an Accountable Plan for your S corp, start with these four steps:
1. Adopt a formal written plan that spells out eligible expenses, deadlines, and documentation requirements.
2. Create a monthly expense reporting system that records the amount, date, business connection, receipt, and business-use percentage for mixed expenses.
3. Submit your expense reports and receipts within the IRS 60-day safe harbor window, then formally approve them.
4. Transfer the approved reimbursement from your S corp account to your personal account and record it under the appropriate operating expense.

Want help putting an Accountable Plan and monthly expense process in place? Send us a DM.

09/10/2026

𝗛𝗼𝘄 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗲 𝘁𝗵𝗲 𝘂𝘀𝗲 𝗼𝗳 𝗔𝗜 𝗮𝗺𝗼𝗻𝗴 𝗺𝘆 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀?

If your employees are using AI to do company tasks, then you want to consider these things when regulating its use:
• Which AI tools you are okay with them using and for which processes those tools should be used
• How to handle entering sensitive company or client information into AI tools (especially ones that train a model or make information public)
• Verifying AI-generated information before it’s used or shared
• Who will handle AI regulation and questions
• Which types of work still require a human review before anything goes to a client or customer

𝘏𝘢𝘷𝘦 𝘢𝘯𝘺𝘵𝘩𝘪𝘯𝘨 𝘦𝘭𝘴𝘦 𝘵𝘰 𝘢𝘥𝘥 𝘵𝘰 𝘵𝘩𝘪𝘴 𝘭𝘪𝘴𝘵? 𝘊𝘰𝘮𝘮𝘦𝘯𝘵 𝘣𝘦𝘭𝘰𝘸.

09/09/2026

𝗖𝗮𝗻 𝗺𝘆 𝗦 𝗰𝗼𝗿𝗽 𝗿𝗲𝗶𝗺𝗯𝘂𝗿𝘀𝗲 𝗺𝗲 𝗳𝗼𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀 𝗜 𝗽𝗮𝗶𝗱 𝗽𝗲𝗿𝘀𝗼𝗻𝗮𝗹𝗹𝘆?

Yes, your S corp can reimburse you through an Accountable Plan, which is a formal arrangement for handling those reimbursements.

For example, say you paid $6,000 in qualifying business expenses personally. Without an Accountable Plan, your S corp gets no write-off for those expenses.

With an Accountable Plan:
• Your S corp claims the $6,000 deduction
• Your K-1 taxable income is reduced by $6,000
• The $6,000 reimbursement isn’t included in your W-2 wages
• The reimbursement goes back into your personal account tax-free

If business expenses keep coming out of your personal account, it could be time to make sure your S corp is reimbursing you the right way.

09/09/2026

AI can give you financial advice, but new Stanford research found that the quality of that advice depends on how you ask for it.

It's okay to ask ChatGPT your tax questions, but you’re better off talking to a tax professional (something even it recommends) before executing any advice you find on there. Because even if it gives you an answer, you might not be asking the right question.

But we do.

A Stanford GSB study finds LLMs nudge users toward smart savings and investing habits – but the guidance skews weaker for women and less financially literate prompters.

09/07/2026

𝗗𝗼 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗮𝗽𝗽𝘀 𝗿𝗲𝗽𝗼𝗿𝘁 𝗺𝘆 𝗮𝗰𝘁𝘂𝗮𝗹 𝗽𝗿𝗼𝗳𝗶𝘁 𝘁𝗼 𝘁𝗵𝗲 𝗜𝗥𝗦?

Third-party payment apps report your gross transfers to the IRS.

Say you originally bought a couch for $1,200 and later sold it through Cash App for $400.

If you keep the record showing what you originally paid, you can prove that $400 transfer wasn’t a $400 gain. You sold the couch at a loss.

Don't rely only on PayPal, Venmo, Cash App, or whichever payment platform you're using to track things for you.

Keep the records that show what those payments actually represent.

09/04/2026

𝗛𝗼𝘄 𝗱𝗼 𝗜 𝗸𝗻𝗼𝘄 𝗶𝗳 𝗺𝘆 𝘀𝗶𝗱𝗲 𝗶𝗻𝗰𝗼𝗺𝗲 𝗶𝘀 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗲𝗱 𝗮 𝗵𝗼𝗯𝗯𝘆 𝗼𝗿 𝗮 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀?

Getting paid via Venmo or PayPal doesn't automatically make your side income a business. The IRS looks at how you operate and whether your primary goal is making a profit.

If you keep separate books, set aside regular work hours, and take on ongoing gigs like freelancing or tutoring, you're operating as a business.

If you're just making money here and there from something you do for fun, like streaming or selling a few crafts, that's usually hobby income. You aren't really trying to make a living off it.

This distinction completely changes your tax setup. Business owners report their earnings on Schedule C and can deduct ordinary expenses to lower what they owe. If your side income is more of a hobby, you report the earnings on Schedule 1 as other income, but you can't write off any expenses against it.

09/03/2026

𝗔𝗿𝗲 𝘆𝗼𝘂 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 “𝗺𝗼𝗻𝗲𝘆𝗺𝗮𝘅𝘅𝗶𝗻𝗴” 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗸𝗻𝗼𝘄𝗶𝗻𝗴 𝗶𝘁?

It’s the social media term for getting more value from your money, like cutting expenses or even putting rewards points to use.

𝘞𝘩𝘢𝘵’𝘴 𝘰𝘯𝘦 𝘸𝘢𝘺 𝘺𝘰𝘶’𝘳𝘦 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘮𝘰𝘳𝘦 𝘧𝘳𝘰𝘮 𝘺𝘰𝘶𝘳 𝘮𝘰𝘯𝘦𝘺 𝘳𝘪𝘨𝘩𝘵 𝘯𝘰𝘸?

09/02/2026

What Are the Disadvantages to Sole Proprietorship for Growing Lynnwood Business Owners?

Discover the key disadvantages to sole proprietorship once profit hits $40k. Learn how self-employment tax eats into your revenue and when to switch.

09/02/2026

What Is An Accountable Plan For Lynnwood S Corp Owners?

What is an accountable plan, and how can it save S corp owners taxes? Learn how to extract cash tax-free for home office, cell, and mileage overhead.