Source: SEOSignalsLab

Pick Her Brain!

I’d like to introduce one of our members, Rachel Michaelov, for our next ‘Pick His/Her Brain’ session and I want to thank her for the participation.

Rachel is the CEO of Empire Tax Professionals, a fully licensed tax accounting firm. If you run a growing agency,

I can’t stress the importance of bookkeeping enough.

In addition to offering a bookkeeping service, she is licensed in 50 U.S. states specializing in tax audits.

If you have any questions regarding tax laws or strategies, please feel free to pick her brain.

If you need to book a professional consulting, please feel free to take advantage of an offer created exclusively for SEO Signals Lab members.

Here are the rules.

1) I’ll let the thread go on until she asks me to stop. Theoretically, this thread can continue until the Facebook stock value goes to zero.

2) Please, no snarky remarks. I will not tolerate any intentional negativity. We are here to learn from each other’s success and strategies.

3) Please do not PM her and bother her. If you have a private question, ask for her permission on this thread when appropriate.



Table of Contents

What’s the most common tax related problem small business make, and what’s an easy solution?

Good question, there are actual several.

Bookeeping- not getting it done monthly

Sales tax- not filing timely and not paying taxes timely

Hiring unprofessional People for Bookeeping, payroll and taxes.

Not filing returns on time

Not paying estimated taxes

Not paying themselves a reasonable compensation

Not incorporating and having the right entity!

Consulting with an online company is not the smartest thing to do!

I am based in an EU country and want to do business with USA companies. I have my own LTD registered here. What do I have to take into consideration so I can do business legally in the USA from the EU?

I’m not familiar with overseas taxes.

I’m licensed by the IRS and help business and individuals living in the US.

Which app or system do you recommend for keeping track of expenses throughout the year, to later write them off on your taxes?

I would recommend using an excel sheet if you’re making less than 100k annually.

Once you reach that limit, then I’ll recommend hiring an outsource cfo to help you with your Bookeeping, payroll and taxes.

I do not recommend using QB! I recommend accountants use QB for you but not business using it.

It’s complicated and it’s easy to mess up.

Google sheets is good enough for anyone making less than 100k.

If your business makes a lot of revenue, but little expenses, how can I minimize my taxes?

Tax planning!

Do you have an opinion about FreshBooks?

I always recommend using a tax professional over software, and my first choice would be Quickbook.