Garrett & Associates, CPA

06/17/2026

𝙃𝙤𝙬 𝙘𝙖𝙣 𝙄 𝙡𝙤𝙬𝙚𝙧 𝙢𝙮 𝙘𝙧𝙚𝙙𝙞𝙩 𝙘𝙖𝙧𝙙 𝙥𝙧𝙤𝙘𝙚𝙨𝙨𝙞𝙣𝙜 𝙛𝙚𝙚𝙨?

Start by looking at how your business is being charged.

Flat-rate providers can be simple, but they may not be the cheapest option once your card sales grow.

An interchange-plus plan can cut out the blended-rate markup, so you’re not paying premium processing rates on transactions that may cost less to run.

You can also review:
• Whether large invoices could be paid by ACH
• Whether a dual-pricing setup makes sense
• Whether your merchant statement includes hidden fees
• Whether your current processor still fits your sales volume

A quick quarterly review can catch fees before they quietly drain cash flow.

When was the last time you looked closely at your merchant statement?

06/16/2026

The economy added 172,000 jobs in May.

So why does hiring still feel so hard for your business?

The report looked strong overall, but growth wasn’t spread evenly across every industry.

If you’re struggling to find employees, it might be time to look at the team you already have:

• Who could grow with a little training?
• What tasks could be shared differently?
• What tools could take pressure off the team?

When hiring feels stuck, start inside your own business.

Most industries saw no changes or declines in total employment.

06/15/2026

𝙒𝙝𝙤 𝙜𝙚𝙩𝙨 𝙩𝙤 𝙘𝙡𝙖𝙞𝙢 𝙩𝙝𝙚 𝙘𝙤𝙡𝙡𝙚𝙜𝙚 𝙩𝙖𝙭 𝙘𝙧𝙚𝙙𝙞𝙩, 𝙢𝙚 𝙤𝙧 𝙢𝙮 𝙘𝙝𝙞𝙡𝙙?

For the American Opportunity Tax Credit, the answer comes down to whether you claim your child as a dependent. If you do, the credit goes on your return.

That can still be true even if your child paid some of the tuition with a summer job or student loans.

If your child is not your dependent and files their own return, they may be the one who claims the credit instead.

The student also has to meet IRS rules, including being enrolled at least half-time for at least one academic period and pursuing a degree, certificate, or other recognized credential.

Have you checked whether the credit belongs on your return or your student’s?

06/12/2026

No tax on tips? 🤔 Under the One Big Beautiful Bill, qualifying tip income for eligible workers could be tax-exempt up to $25,000, potentially huge relief at tax time.

It’s not automatic though, eligibility rules and what counts as “qualifying income” matter, so don’t assume every tip is covered.

Want me to check if you qualify? Drop a comment or DM me!

06/12/2026

𝘾𝙖𝙣 𝙄 𝙜𝙚𝙩 𝙖 𝙩𝙖𝙭 𝙘𝙧𝙚𝙙𝙞𝙩 𝙛𝙤𝙧 𝙘𝙤𝙡𝙡𝙚𝙜𝙚 𝙚𝙭𝙥𝙚𝙣𝙨𝙚𝙨?

The American Opportunity Tax Credit can slash up to $2,500 off your tax bill for each eligible student in college. And it includes a "refundable" safety net, so even if you don't owe any taxes at the end of the year, the government will still send you a refund check for up to $1,000 of the leftover credit.

Expenses that 𝗱𝗼 𝗾𝘂𝗮𝗹𝗶𝗳𝘆 for this are tuition, mandatory enrollment fees, required books, and required supplies and equipment. Room and board, meal plans, transportation, parking, and medical insurance 𝗱𝗼𝗻’𝘁 𝗾𝘂𝗮𝗹𝗶𝗳𝘆.

Also, if scholarships, Pell grants, or employer tuition assistance covered part of the cost, that tax-free money has to be subtracted from your qualified expenses.

College costs add up fast. Before you assume you do or don’t qualify, it’s worth checking which expenses actually count.

Contact us to look at this for your specific tax situation.

06/11/2026

𝙒𝙝𝙖𝙩 𝙙𝙤 𝙄 𝙖𝙘𝙩𝙪𝙖𝙡𝙡𝙮 𝙣𝙚𝙚𝙙 𝙩𝙤 𝙛𝙞𝙜𝙪𝙧𝙚 𝙤𝙪𝙩 𝙗𝙚𝙛𝙤𝙧𝙚 𝙄 𝙨𝙩𝙖𝙧𝙩 𝙖 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨?

A new idea doesn’t have to be perfect before you try it. But it does need to answer:
1. Who is this for?
2. What problem does it solve?
3. What would someone actually pay for?
4. What’s the smallest way to try it?

A business is an opportunity to fill a need, so making sure you're clear on what need is being filled and how to actually charge for it is your basis for everything.

06/10/2026

𝘾𝙖𝙣 𝙢𝙮 𝙥𝙖𝙞𝙙 𝙡𝙚𝙖𝙫𝙚 𝙥𝙤𝙡𝙞𝙘𝙮 𝙡𝙤𝙬𝙚𝙧 𝙢𝙮 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨’𝙨 𝙩𝙖𝙭 𝙗𝙞𝙡𝙡?

The employer credit for family and medical leave can range from 12.5% to 25% of the wages you pay while an employee is on leave.

But before the credit applies, the policy has to meet specific regulations.

To see if your business qualifies, we’d need to review your leave plan, including:
• Who on your team qualifies based on compensation and hours
• Whether your written policy covers the right employees
• How your leave is funded
• Where your employees are physically located
• Whether your business can actually use the credit this year

Want to know whether your policy may qualify? Comment “LEAVE” and let’s look at the tax side before you try to claim the credit.

06/10/2026

Feeling lost in the business wilderness? "When you follow your business plan, it will provide direction during unfamiliar territory in the life of your business." - Plateau to Summit.

Following your plan isn’t boring, it’s your GPS that saves you from costly detours, panicked pivots, and cringe-worthy decisions. It lets you explore with confidence instead of guessing your way through chaos.

Ready to stop wandering? Get your copy of Plateau to Summit and let’s climb.

06/09/2026

Entrepreneurship is a big thing in our economy right now, especially with the major influx of content creators over the past few years.

But being an entrepreneur doesn't mean you need to wait for a big “aha” moment to start a successful business.

Sometimes a business idea simply comes from paying attention, asking better questions, and finding a need to fill.

Want help processing your business idea? Let's talk it out in the comments.

https://www.inc.com/yuvaltal/you-dont-need-a-eureka-moment-to-start-a-company/91285000

06/08/2026

Parents, are you wondering if the One Big Beautiful Bill gives you a tax break?

Here’s the quick scoop: the bill introduces so-called “Trump accounts.” It seeds $1,000 for kids born 2025–2028 and lets parents + employers contribute up to $5,000 to an IRA for children under 18.

Curious if your family could benefit? Drop a comment or DM me!