#mentalhealth

top of page

SCHEDULE A CALL

Search

How is my income taxed when I own a business?

Jeanette Andrada, MBA, EA

Nov 24, 2021
1 min

How is my income taxed when I own a business?

The tax law can be complex, but it's important to know the basics of how you are taxed. As a business owner, you get so many more tax advantages, however. However you must understand how you are taxed so you can help minimize your tax liability. Income Taxes (10%-37%): On top of self-employment taxes, you'll pay income taxes. This will vary based on how much income you make and your filing status. Self-employment taxes (15.3%): A misconception is that you don't pay social sec

Can you deduct for a home office + physical office location?

Jeanette Andrada, MBA, EA

Nov 23, 2021
1 min

Can you deduct for a home office + physical office location?

Don't forget to claim the home office deduction on your tax returns, even when your business has a physical office location! The IRS makes it very clear: you may have more than one office for your business, including an office in your home. Your home office will qualify as your principal place of business if you meet the following requirements: You use it exclusively and regularly for administrative or management activities of your trade or business. You have no other fixed l

What is tax planning and how much does it cost?

Jeanette Andrada, MBA, EA

Nov 17, 2021
2 min

What is tax planning and how much does it cost?

Many times, clients will come to me AFTER they get their tax bill and ask if there's anything I can do to reduce their tax bill. The answer is: probably not. At least not for the year that has already passed (unless credits or deductions were missed). However, with some careful planning, we can absolutely help. We help our clients save tens of thousands of dollars by proactively implementing tax strategies throughout the year. Tax planning allows us to do this. Tax planning i

Are you ready for year-end 1099 filings?

Jeanette Andrada, MBA, EA

Nov 16, 2021
1 min

Are you ready for year-end 1099 filings?

The end of the year is approaching which means, tax time is on the way! Do you have everything you need to file 1099s for your contractors? Here is a quick checklist to make sure you're ready for the January 1 due date. Make sure contractors have filled out a W-9 If you use QuickBooks, make sure you are tracking 1099 payments If you don't use QuickBooks, start tracking the checks and payments made to contractors Reach out to contractors with missing information NOW. Don't wai

EA or CPA, which should I hire?

Jeanette Andrada, MBA, EA

Nov 9, 2021
2 min

EA or CPA, which should I hire?

You've heard of a CPA, but what what about an EA? What's the difference and which should you hire to help with your taxes? An EA, or Enrolled Agent, is a tax professional federally authorized to represent taxpayers before the IRS. They are individuals with extensive knowledge in tax law. Isn't that what a CPA does? Yes and no. Here are the key differences between CPAs and EAs: CPAs have broad accounting knowledge (tax, assurance, valuation services, financial planning, etc) a

Are you making this costly 1099 mistake?

Jeanette Andrada, MBA, EA

Nov 1, 2021
1 min

Are you making this costly 1099 mistake?

2021 is coming to an end - can you believe it? Now is a great time to review your 1099 contractors to make sure you are correctly classifying them according to IRS regulations. If you classify someone who works for you incorrectly, the IRS can reclassify your 1099 contractors as W-2 employees making you responsible for payroll taxes. This should scare you but don't worry. This can be avoided if you keep the following in mind: Generally, an employee is someone that works under

From Bookkeeping to Tax Organization; We're Here to Help!

Jeanette Andrada, MBA, EA

Nov 1, 2021
1 min

From Bookkeeping to Tax Organization; We're Here to Help!

There are many benefits to working with us, but one benefit that our clients love is knowing that we have all their business finances under control and they no longer have to stress during tax season. As we approach year end, it is a good time to ask yourself if you are ready for taxes. Need extra help? We're here for you: linktr.ee/jeanetteandrada ADDITIONAL RESOURCES: > Learn How to Pay Yourself When You Own a Private Practice > Simple Practice Reports You Should Be Reviewi

Any Office Fans??

Jeanette Andrada, MBA, EA

Oct 29, 2021
1 min

Any Office Fans??

Does your accountant give you the attention you need? In the wise words of Dwight Schrute - "you couldn't handle my undivided attention." Ok, all jokes aside, I love this new Dwight Schrute mug I got over the weekend. Any Office fans?? #theofficeshow #privatepracticeaccounting #therapist #nursepractitioner #lpc #lcsw #pmhnp #lmft #privatepracticeowner #counselor #psychiatrist #mentalhealth #therapistaccounting #counseloraccounting #smallbusiness #bookkeepingtips #accountingti

Keeping Your Receipts Organized!

Jeanette Andrada, MBA, EA

Oct 29, 2021
1 min

Keeping Your Receipts Organized!

Ok, I will admit it - maintaining copies of your receipts isn't the highest priority on anyone's to-do list. Organizing those receipts at the end of the year? No fun task either. Organization is key for not only complying with IRS documentation requirements, but it also helps you avoid missing tax deductions. I personally use Quickbooks Online's receipt capture feature for my business and I recommend it to all my clients. It's super easy to use: Simply download the app, snap

Patient & Personable Accountant? That's us!

Jeanette Andrada, MBA, EA

Oct 29, 2021
1 min

Patient & Personable Accountant? That's us!

Working with me, you'll find that I won't ever rush you to get through a call. My team and I take our time to make sure you are confident in your accounting so you can make the best, most informed decisions for your business. If you're not confident in your business accounting, taxes, or bookkeeping, reach out to me for help. Schedule your free 15-minute strategy session with me ---> linktr.ee/jeanetteandrada ADDITIONAL RESOURCES: > Learn How to Pay Yourself When You Own a Pr

Do You Need an LLC or S Corp?

Jeanette Andrada, MBA, EA

Oct 20, 2021
1 min

Do You Need an LLC or S Corp?

So you've started a business and you're not sure if you should structure your business as an LLC or an S-Corp?? I get this question so much. There are a few things to keep in mind to help you understand the difference between the two: An LLC is a legal entity, while S-Corporation is a tax structure When determining if your business should be an LLC, consult with a lawyer to make sure you cover all bases When determining if your business should elect to be taxed as an S-Corp,

Someone You Can Trust With Your Books!

Jeanette Andrada, MBA, EA

Oct 18, 2021
1 min

Someone You Can Trust With Your Books!

Do you ever feel overwhelmed with your taxes and bookkeeping? You're definitely not alone. When I talk to business owners, they often tell me that they are overwhelmed with organizing their books and getting good systems in place. Working with us, you'll find that we are all about creating systems that streamline accounting processes. Never feel overwhelmed again! Schedule your free 15-minute confidential strategy session with me ---> linktr.ee/jeanetteandrada ADDITIONAL RESO

Have Your Lunch & Eat It Too!

Jeanette Andrada, MBA, EA

Oct 15, 2021
2 min

Have Your Lunch & Eat It Too!

Since 1986, lawmakers have limited business meal deductions: first to 80%, and then to 50% (unless an exception applies). But on December 27, 2020, in an effort to help the restaurant industry due to the COVID-19 pandemic, lawmakers enacted a new, temporary 100% business meal deduction for calendar years 2021 and 2022. To qualify for the 100 percent deduction, some criteria must be met. You need a restaurant to provide you with the food or beverages. The law requires only tha

Overlooked Tax Strategies For Private Practice Owners

Jeanette Andrada, MBA, EA

Oct 13, 2021
2 min

Overlooked Tax Strategies For Private Practice Owners

Private practice owners tend to have low overhead costs. That's great, right? The issue is that the more profitable you are, the more you will owe to the IRS. It's feels like a win/lose situation, doesn't it? The good news is that there are some tax strategies you can implement in your business that will benefit you AND legally lower your tax bill. Make sure to check out my FREE Tax Saving Strategy Guide for Private Practice Owners for in depth explanation of these tax strate

New Video Coming Soon...!

Jeanette Andrada, MBA, EA

Oct 12, 2021
1 min

New Video Coming Soon...!

It's been a while since I've recorded a video. I'm a little rusty, but hopefully you find it helpful! It will go up on Friday so be on the lookout :) If you need accounting help, feel free to reach out to me! You can schedule your free 15-minute strategy session with me ---> linktr.ee/jeanetteandrada ADDITIONAL RESOURCES: > Learn How to Pay Yourself When You Own a Private Practice > Simple Practice Reports You Should Be Reviewing > Should Your Private Practice Become an S-Cor

Looking for an Attentive Accountant?

Jeanette Andrada, MBA, EA

Oct 11, 2021
1 min

Looking for an Attentive Accountant?

Our clients love that we give their accounts the attention that they need and provide guidance as their businesses grow. You never have to feel alone while working with us! Looking for an attentive accountant? We're here for you: linktr.ee/jeanetteandrada ADDITIONAL RESOURCES: > Learn How to Pay Yourself When You Own a Private Practice > Simple Practice Reports You Should Be Reviewing > Should Your Private Practice Become an S-Corp #privatepracticeaccounting #therapist #nurse

Common Tax Mistakes That Private Practice Owners Make

Jeanette Andrada, MBA, EA

Oct 6, 2021
2 min

Common Tax Mistakes That Private Practice Owners Make

As I've worked with more Private Practice owners, I've seen a pattern of common (and costly) tax mistakes they make. Here are 3 common mistakes that have cost Private Practice owners way too much money! 1. Not being proactive - Everyone is required to file tax returns to report their income. The problem with this is that everything has already been said and done. You can't change the past. The solution: find someone who can plan your taxes for you. Yes - that is a thing! By

bottom of page