by Joe Holbrook, CPA | Jul 11, 2025 | Accounting
It was 7 pm on a Thursday night in February when one of the partners at my first firm out of college stopped by my cubicle holding a shoebox. “I’m going to need you to do the Johnson’s tax return, but first you’ll need to use these receipts to figure out their...
by Joe Holbrook, CPA | Jul 8, 2025 | Nonprofits
Introduction Did you know over 50,000 nonprofits lose their tax-exempt status every year just because they missed a simple IRS filing? Most of the time it’s not fraud or anything sinister. It’s just paperwork. And if you’re running a small nonprofit here in Montana,...
by Joe Holbrook, CPA | Jul 3, 2025 | Tax
Introduction Almost no one is using retirement plans to their full potential to lower their tax. That’s a shame, because these plans are hands-down one of the most IRS-approved ways to cut your tax bill while actually keeping the money (eventually) for yourself. In...
by Joe Holbrook, CPA | Jul 2, 2025 | Tax
Introduction One of the fastest ways to trigger an unexpected tax bill? Taking what seems like a tax-free distribution—only to learn it exceeded your basis. Business owners often enjoy the benefit of taking tax-free distributions from their S corporations or...
by Joe Holbrook, CPA | Jul 1, 2025 | Tax
Introduction Ever wondered how you can get reimbursed by your business for home office use, mileage, or your cell phone — without paying taxes on it? That’s where Accountable Plans come in. According to the IRS, reimbursements under an accountable plan are not...
