The Genuine Article

Real tax advice for real people.

How much should I deduct? Can I avoid all taxes by showing a business loss?

Yes – but beware the IRS hobby rule. And of course, you could always be audited, so it’s best to stick to the facts.

Wait a sec. I can’t deduct entertainment anymore?

What if that’s my whole business?

But I’m not an accountant! What counts as “good recordkeeping” for the IRS? Read on to find out what’s required.

How much should I deduct? Can I avoid all taxes by showing a business loss?

Yes – but beware the IRS hobby rule. And of course, you could always be audited, so it’s best to stick to the facts.

Help! It’s almost tax filing time, and your records are, well, incomplete.

What if you forgot to save your info?

Don’t worry, you’re not totally out of luck. Read on to find out how to save yourself on tax day.

New to tracking your solo business finances? Start here.