Ignite Accounting LLC

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Ignite Accounting LLC Providing experienced professional accounting, bookkeeping, consulting, review, compilation, audit,

Providing experienced professional accounting, bookkeeping, consulting, review, compilation, audit, and taxation services to the United States.

10/28/2026

If you have been thinking about a self directed IRA and not sure what to invest in check out the Alternative Asset Summit and sign up with Directed IRA the best Self Directed IRA custodian in the industry!

Reminder: If you are a business owner or rental property owner and you paid anybody more than $2,000 for services rent ...
10/26/2026

Reminder: If you are a business owner or rental property owner and you paid anybody more than $2,000 for services rent prizes this year make sure you get a W-9 now if you haven’t already instead of waiting until January! Stop scrambling at the last minute!!

If you want to avoid sending 1099s easiest way is to pay people with credit cards whenever possible.

Just a reminder:The IRS taxes crypto as property, so consider holding it (now including bitcoin ETFs) inside a Roth IRA ...
10/23/2026

Just a reminder:
The IRS taxes crypto as property, so consider holding it (now including bitcoin ETFs) inside a Roth IRA or Roth 401k, where trades and growth aren’t taxed.

Selling crypto for dollars and trading one coin for another are both taxable events. Holding more than a year gets long-term rates, and net losses offset only $3,000 a year of other income.

Being paid in crypto is income at fair value, and mining or staking counts as self-employment or business income.

A self-directed IRA LLC or Solo 401k trust with an exchange account, or simply a bitcoin ETF at a regular brokerage, held in a Roth solves many tax concerns. Mining or staking inside a retirement account needs a C-corp blocker taxed at 21% instead of your likely higher personal tax rates.

Track everything with software, keep records at least 3 years, and never try to hide crypto from the IRS. Even with the new 1099-DA rules you need to make sure the exchanges are calculating your crypto activity correctly as we are seeing many of them be wrong. Sadly!

Some Thoughts on College Athlete Compensation: 1. Name Image and Likeness (NIL) payments are taxable. There is no studen...
10/06/2026

Some Thoughts on College Athlete Compensation:
1. Name Image and Likeness (NIL) payments are taxable. There is no student-athlete exemption. Cash, collectives, posts, appearances, gift cards, and free gear can all be income.

2. Brand and collective deals are usually self-employment income, because you are doing something to earn the payment. This Reports on Schedule C, plus approx. 15.3% SE tax on top of income tax. Nothing is withheld.

3. School revenue share is often reported as royalties on a 1099-MISC, not a 1099-NEC. Same athlete, different tax. Read the form. Again nothing is withheld, need to pay estimated taxes.

4. As a general rule of thumb Park 30–40% of every third-party payment in a tax savings account (earning high yield interest). Make Estimated Tax Payments. Estimates are due Apr 15, Jun 15, Sep 15, and Jan 15.

5. Deduct real NIL costs: agent fees, contract legal, content gear, appearance travel. Keep receipts. A missing 1099 does not mean the income is free.

6. A qualified scholarship can still be tax-free. NIL is not a scholarship. Don’t confuse the two, plan to pay taxes so you don’t get a big surprise come April 15!

7. Contribute to a Roth IRA as much as you can up to the limit each year (if you have enough earned income). For 2026 max contribution is $7,500. Consider the Back Door Roth if your income is too high for a regular Roth contribution.

8. If you have NIL deals that will exceed $75k of net profit each year consider creating an S-corporation but make sure you discuss with a Tax Adviser before you do this to make sure it makes sense for your situation and to understanding all the reporting obligations.

Need help go to www.igniteyourtaxes.com and give us a call or send us a message.

People are starting to see the $250 Dell Contributions hit their kids Trump accounts!! If you haven’t opened one for you...
09/03/2026

People are starting to see the $250 Dell Contributions hit their kids Trump accounts!! If you haven’t opened one for your kids yet you may want to consider doing so. I suspect there will be more sources of these contributions in the near future. This was based on zip code and birth year not income.

Opportunity Zone investors, just a little reminder: those deferred capital gains are coming due this year. Hopefully you...
09/01/2026

Opportunity Zone investors, just a little reminder: those deferred capital gains are coming due this year. Hopefully you have done some tax planning!!

Want to help the next generation build real tax-advantaged wealth?A few tools that can work together: • Trump accounts •...
08/23/2026

Want to help the next generation build real tax-advantaged wealth?

A few tools that can work together:
• Trump accounts
• Roth conversions for kids (watch the kiddie tax)
• Coverdell ESA or 529
• UTMA if more flexibility is needed

None of these is one-size-fits-all. The right mix depends on the child’s age, income, your goals, and how much control you want to keep.

Happy to walk through what actually fits your situation.

HSA is still a wonderful triple-tax-advantaged account. Contribute (pre-tax or deductible), invest so it compounds tax-...
08/23/2026

HSA is still a wonderful triple-tax-advantaged account.

Contribute (pre-tax or deductible), invest so it compounds tax-free, and take qualified medical distributions tax-free — including for family members in many cases.

The biggest leak? Treating it like a checking account and spending it down every year. If you can pay current medical costs out of pocket, invest the HSA and keep the receipts. Future you (and your family) will thank you.

What’s your approach — investing the HSA or using it as a spending account?

Do you make too much to contribute directly to a Roth IRA? If so, consider the Backdoor Roth Contribution! It’s availabl...
08/19/2026

Do you make too much to contribute directly to a Roth IRA? If so, consider the Backdoor Roth Contribution! It’s available for any income, but there are some traps to consider. Reach out at ignitewealthmanagement.com if you need help!

🇺🇸🇺🇸Happy 250 America everyone 🇺🇸🇺🇸Looks like officially launched today and you can start contributing as of today! And...
07/05/2026

🇺🇸🇺🇸Happy 250 America everyone 🇺🇸🇺🇸

Looks like officially launched today and you can start contributing as of today!

And the ETF that will be receiving all the funds is $SPYM State Streets S&P 500 Fund.

The Dells are contributing $250 to the first 25 Million Accounts opened in eligible zip codes for children under 10 check Invest America Site for a tool to confirm if you are eligible and interested in getting it!

Address

2828 North Central Avenue, Suite 1000
Phoenix, AZ
85004

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

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