J Smith & Company

J Smith & Company Reliable, professional accounting services for individuals and businesses across all 50 states. From tax prep to bookkeeping — we make the numbers work for you.

Trusted expertise, nationwide reach. Schedule your free financial analysis today!

Depreciation can save you money while you own an asset, but selling it can change the equation. Knowing the tax impact b...
10/09/2026

Depreciation can save you money while you own an asset, but selling it can change the equation. Knowing the tax impact before you sell can help you avoid an unexpected bill.

10/07/2026

Finding deductions at tax time can help, but the biggest opportunities often come from planning ahead.

Tax strategy gives you time to structure decisions, use the right strategies, and make changes while you still have options.

April should be about filing the plan, not creating it.

10/06/2026

Cost segregation can help you take more of your depreciation deductions sooner instead of spreading them out over decades.

By breaking a property into qualifying components, certain parts can be depreciated over shorter periods, accelerating deductions and potentially lowering your tax bill sooner.

That means more of the tax benefit can work in your favor today instead of years down the road.

One of the biggest advantages of an S-Corp is the ability to split income between salary and distributions. But that doe...
10/05/2026

One of the biggest advantages of an S-Corp is the ability to split income between salary and distributions. But that does not mean you can make your salary as low as possible.

The IRS requires shareholder-employees to receive reasonable compensation for the work they perform. If your salary is too low, distributions can potentially be reclassified as wages, which can mean additional payroll taxes and penalties.

The S-Corp strategy works when the structure behind it works.

10/04/2026

Some business decisions are scarier than any horror movie. Avoid the jump scares by keeping your books clean, planning ahead, and handling your tax strategy before there’s a problem.

10/02/2026

Private school tuition isn’t normally deductible, but business owners have strategies that can help turn the cost into a legitimate business expense. It all comes down to structuring it correctly.

10/01/2026

Growth changes more than your revenue. It can change which tax strategies make sense for your business.

The structure that worked a year ago may not be the structure that works today. As your business grows, your tax strategy should be reviewed and adjusted with it.

More growth should create more opportunity, not just a bigger tax bill.

An S-Corp can create tax-saving opportunities, but only when you are using the structure correctly.An accountable plan a...
09/30/2026

An S-Corp can create tax-saving opportunities, but only when you are using the structure correctly.

An accountable plan allows your business to reimburse you for qualifying expenses you paid personally, while properly documenting those expenses through the business.

It is another example of why simply having an S-Corp is not the strategy. Knowing how to use it is.

09/29/2026

Tax strategy should not start when it is time to file.

The earlier you plan, the more opportunities you have to make strategic decisions before the year ends. Once the year is over, many of those options are gone.

Your taxes should be planned, not just prepared.

09/28/2026

Working from home and qualifying for the home office deduction are two different things. Your space needs to meet specific requirements, and when it does, expenses tied to your home can become legitimate business deductions.

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