Havig Tax & Consulting

06/01/2026

Summertime is the perfect time for a mid-year tax checkup, so here are some tips from the Taxpayer Advocate Service!

Take control of your taxes with a mid-year tax checkup. Learn how to avoid surprises, maximize savings, and prepare for tax season early.

05/29/2026

Traveling but forgot some essentials? Give yourself a "tax discount" on vacation necessities using your health savings account by following these IRS rules.

05/28/2026

Looking to start a business in 2026? According to Inc Magazine, these small business ideas are poised to take off!

Looking to start a business in 2026? These small-business ideas are poised to take off—and many can be launched with minimal experience.

05/28/2026

The IRS will offer Saturday hours at select Taxpayer Assistance Centers on May 30.

TACs will be open from 9 a.m. to 4 p.m. to provide in-person assistance on a range of tax issues. Visit IRS.gov/SaturdayHours ahead of time to confirm participating locations and available services before heading to an office.

05/28/2026

Why do estimated taxes catch so many business owners off guard? Because no one is withholding taxes for you anymore!

When you’re self-employed or own a business, it’s your responsibility to set money aside throughout the year for federal, state, and self-employment taxes. But, of course, life happens and gets busy, and then tax season arrives, and suddenly there’s a large balance due they weren’t prepared for.

Proactive tax planning helps prevent those headaches. Simple things like regular bookkeeping, reviewing your business financials, and keeping track of everything can help ward off surprises at tax time.

The goal isn’t just making money, it’s knowing how much of it is actually yours to keep!

05/27/2026

Business vehicle expenses can be a great way to lower your tax bill, but understanding the strategy behind taking them matters more than most people realize!

The goal isn’t just bout getting a “write-off.” It’s making smart financial decisions that support both your business and your long-term cash flow.

A good tax strategy helps you save money without overspending just to create a deduction.

Learn when to use mileage vs. actual expenses for business vehicle deductions, including trucks over 6,000 pounds, leasing strategies, and bonus depreciation.

05/27/2026

The Internal Revenue Service received approximately $3.2 billion in unidentified payments from fiscal years 2022 through 2024.

05/27/2026

Myth: “A business loss automatically triggers an audit.”

This is one of the biggest tax myths small business owners believe, and many end up being afraid to claim legitimate expenses or show a loss because they think the IRS will automatically flag their return.

But we're here to tell you that’s not how it works! Businesses can have losses for completely valid reasons. Think about it this way and consider your:
• startup costs
• slow years
• large equipment purchases
• depreciation
• market changes
• business reinvestment
• unexpected expenses

In fact, many profitable businesses show lower taxable income because they’re using completely legal tax strategies correctly.

What does end up triggering audits are factors like poor bookkeeping, personal expenses, and inconsistent reporting. A well-documented loss is very different from a careless tax return.

05/26/2026

It's ! Do you know the difference between revenue and profit? Revenue is the total income a business generates from selling its products or services.

Profit is what remains after all expenses are paid, including operating costs, payroll, debt payments, taxes, and other business expenses.

TL; DR
Revenue is how much money comes in.
Profit is how much money the business actually keeps.

05/23/2026

A handy guide to what receipts, documents and tax forms must be saved, and for how long, to satisfy the IRS. Plus, tips for organizing, storing, scanning and shredding all that paper.

A guide to what receipts, documents and forms must be saved, and for how long, to satisfy the IRS. Plus, tips for storing, scanning and shredding all that paper.