The Busy Bee Blog

How the Tax System Works

How the Tax System Works

"The hardest thing in the world to understand is the income tax," once said the brilliant Albert Einstein. The tax code is undoubtedly complex, often appearing as a labyrinthine web of rules and...

Building Business Credit

Building Business Credit

Building a strong credit profile is not only a wise financial move for people; it is also essential for organizations seeking long-term growth and success. A strong business credit history can lead...

The Benefits of Budgeting

The Benefits of Budgeting

Ever wondered how some people seem to effortlessly manage their money, achieving their dreams without breaking a sweat? Their secret weapon is likely budgeting. Budgeting is like the financial GPS...

Financial Success for Realtors

Financial Success for Realtors

In the competitive world of real estate, experts frequently focus intently on matching customers with their dream homes, emphasizing curb appeal, location, and other visible assets. While these are...

Basic Estate Planning

Basic Estate Planning

Basic estate planning is a must and it starts with creating a will. Even if you are one of the richest people in the world, you still need a will. Below are reasons why you'll want to have a will...

IRA to HSA Rollover

IRA to HSA Rollover

Health Savings Accounts (HSAs) are meant to go with health plans with high deductibles and help you pay for medical costs. Due to the triple tax benefit, they can also be a great way to save for...

What is the $75 Rule?

What is the $75 Rule?

The $75 rule says that you don't need a receipt for some business costs that cost less than $75. But as small business tax advisors, we want to stress that not all tax deductions follow this rule....

Helpful Employee Benefits

Helpful Employee Benefits

I know you've been thinking about fitness for your employees and maybe a gym or other sports facility. For your gym or other athletic facilities to be tax-deductible, they must be mostly for the...

Featured On KRCA News Segment

Featured On KRCA News Segment

We recently enjoyed being included in a news segment on KRCA. KRCA is one of Sacramento's top news channels and it was an honor to be on the segment. View the video below and check out the article...

FREE Money!?!? But Is It Taxable?

FREE Money!?!? But Is It Taxable?

Chances are you are one of the more than 16.5 million Californian’s who received the Middle Class Tax Refund. Eligibility is determined by current California residency, timely filing of 2020 taxes...

Let’s Talk About Travel Per Diem

Let’s Talk About Travel Per Diem

Because you run your own business, it’s safe to say that recordkeeping is one of the many administrative monkeys on your back. The idea of a set-dollar travel per diem may seem mighty appealing....

Depreciation of Real Estate

Depreciation of Real Estate

When you own rental property, depreciation is your best friend. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, in which...

Is It A Business Or Is It A Hobby?

Is It A Business Or Is It A Hobby?

Are you a part of the growing gig economy? Do you run a side hustle? Wondering if it’s a business or a hobby? Are you reading this and wondering why you should care? For the purpose of taxes these...

A Word About Self-Directed IRAs

A Word About Self-Directed IRAs

Tax-advantaged retirement accounts such as IRAs are a great way to save for retirement. But when you establish a traditional IRA with a bank, a brokerage, or a trust company, you are ordinarily...

2021 Tax Credits to Know

2021 Tax Credits to Know

For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child tax credit,...

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