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Unlocking the Qualified Business Income (QBI) Deduction: A Guide for Small Business Owners

For small business owners, the Qualified Business Income (QBI) deduction is one of the most valuable tax-saving opportunities introduced by the Tax Cuts and Jobs Act (TCJA). By reducing taxable income by up to 20%, this deduction allows eligible entrepreneurs to reinvest savings into their businesses and build long-term financial security. Here’s what you need to know about QBI and how to make the most of it.

What Is the QBI Deduction?

The QBI deduction allows qualifying business owners to deduct up to 20% of their qualified business income from pass-through entities like sole proprietorships, partnerships, S-corporations, and certain LLCs. This deduction applies to business profits, not wages or guaranteed payments, and directly reduces taxable income rather than being a credit.

Who Qualifies?

The deduction is available to many business owners, but your eligibility depends on several factors:

Maximizing the QBI Deduction

1. Manage Taxable Income:
Keep your taxable income below the threshold to claim the full deduction. This can be achieved through strategies like deferring income, maximizing retirement contributions, or leveraging depreciation.

2. Adjust W-2 Wages and Property Basis:
If your income exceeds the threshold, the deduction is limited by either 50% of W-2 wages paid by the business or 25% of W-2 wages plus 2.5% of qualified property. Ensuring your business meets these requirements can maximize deductions.

3. Separate Business Activities:
If your business includes activities that may qualify separately, such as non-SSTB operations, consider segregating them to optimize your deduction eligibility.

4. Stay Updated:
Tax laws frequently change. Work closely with a tax professional to ensure your strategy aligns with the latest regulations and leverages every opportunity.

Why It Matters

The QBI deduction offers a significant advantage for small business owners looking to reduce tax burdens and retain more income for growth. However, its complexities require careful planning and a tailored approach to maximize its benefits.

Take the time to evaluate your business structure, income strategies, and compliance to unlock the full potential of the QBI deduction.

What’s one thing you’d do with the extra savings from a 20% tax deduction?

#SmallBusinessFinance #QBI #TaxPlanning #FinancialStrategy #Entrepreneurship


Top Ten Reasons Why You Should Consider QuickBooks

Top ten reasons why you should use QuickBooks. QuickBooks is a powerful accounting software that can help you manage your business more efficiently. Here are the top ten reasons why you should use QuickBooks:

#1. Easy to use - QuickBooks is user-friendly and can be easily navigated even if you don't have an accounting background.

#2. Time-saving - QuickBooks automates many accounting processes, saving you time and reducing the risk of errors.

#3. Cost-effective - QuickBooks is an affordable accounting solution that can save you money on hiring an accountant.

#4. Customizable - QuickBooks can be customized to meet the specific needs of your business.

#5. Financial reporting - QuickBooks provides a wide range of financial reports that can help you make informed business decisions.

#6. Tax preparation - QuickBooks makes tax preparation easier by generating reports and tracking expenses.

#7. Invoicing and billing - QuickBooks streamlines invoicing and billing processes, making it easier to get paid.

#8. Inventory management - QuickBooks can help you manage your inventory, reducing the risk of overstocking or stock outs.

#9. Integration - QuickBooks integrates with a variety of other business tools, making it a versatile solution.

#10. Accessibility - QuickBooks can be accessed from anywhere with an internet connection, making it easy to manage your business on the go.

In conclusion, QuickBooks is a powerful accounting software that can help you manage your business more efficiently. With its ease of use, cost-effectiveness, and customizable features, it's no wonder why QuickBooks is a top choice for many small businesses.

5 Most common forms of business

This Short Video Examines The 5 Most Common Forms Of Business Along With Main The Characteristics Of Each

#1 Sole Proprietorship #2 Partnership #3 Corporations #4 Limited Liability Company (LLC) #5 Sub Chapter S Corporations (S-Corps)

the role of a registered agent

A registered agent is a designated individual or entity that is responsible for receiving legal and official documents on behalf of a business. This includes important documents such as tax forms, legal notices, and lawsuits. The registered agent acts as a point of contact between the business and the state government, ensuring that the business is in compliance with state laws and regulations.

The primary responsibility of a registered agent is to receive and forward legal documents to the appropriate individuals within the business. This ensures that the business is aware of any legal issues or requirements that may arise. Additionally, the registered agent must maintain accurate and up-to-date records of all legal documents received and forwarded.

In order to be a registered agent, there are certain requirements that must be met. The individual or entity must have a physical address within the state where the business is registered. They must also be available during normal business hours to receive and forward legal documents. Some states require the registered agent to be a resident of the state, while others allow for out-of-state individuals or entities to serve as registered agents.

There are several advantages to using a registered agent for a business. One of the primary benefits is that it ensures that the business is in compliance with state laws and regulations. The registered agent is responsible for keeping track of important deadlines and ensuring that the business is aware of any legal requirements. This can help to avoid costly fines and legal issues.

Another advantage of using a registered agent is that it provides a level of privacy for the business. The registered agent’s address is listed on public records, rather than the business’s address. This can help to protect the business’s privacy and prevent unwanted solicitations or visitors.

However, there are also some disadvantages to using a registered agent. One of the primary drawbacks is that it can be an additional expense for the business. Registered agents typically charge a fee for their services, which can add up over time. Additionally, some businesses may prefer to handle legal documents themselves, rather than relying on a third-party.

In conclusion, a registered agent plays an important role in ensuring that a business is in compliance with state laws and regulations. They are responsible for receiving and forwarding legal documents, and must maintain accurate records of all documents received. While there are advantages to using a registered agent, such as ensuring compliance and maintaining privacy, there are also some drawbacks, such as additional expenses. As a business consultant, it is important to weigh the pros and cons of using a registered agent and determine if it is the right choice for the business.


Top 20 Side Hustle Business Ideas

Use These Side Hustle / Business Ideas To Earn Over $10K Per Month 

If you are looking for a side hustle that can earn you a six-figure income from home, check out this list of top twenty business ideas. With these side hustles, cash-strapped entrepreneurs can generate extra income beyond their primary business, making it a good way to earn extra cash while developing new skills and networking with potential customers. In this article, I'll share with you my top 20 side hustles that you can use to earn at least $10,000 per month. 

1. Freelance Writing: Freelance writing is a great side hustle for entrepreneurs with excellent writing skills. Entrepreneurial bloggers, small business owners, and PR companies require content regularly. The market for content writing is tremendous, and with good networking skills, a freelance writer can charge above-average rates and make a decent side income. The best part is that there are numerous free tools available to help you make this a reality. You can list your services online and operate the business from your cell phone or computer. 

2. Virtual Bookkeeping and Accounting: Many small businesses require knowledgeable accountants and bookkeepers to keep their finances in check. If you have experience with bookkeeping or accounting, you can set up a virtual office to manage their books and bill rates average around $60/hour. Many CPAs and licensed accountants with their own businesses earn upwards of $150/hour.

3. Social Media Management: This side hustle requires intimate knowledge of the different social media platforms and how to use them effectively to drive results. Social media managers can earn a significant income by managing social media accounts for their clients. For many businesses, building an engaged following to increase sales, and handling social media advertising is a challenge. A good way to find these clients is by researching the Facebook ad library for businesses in your niche. You can also take advantage of the available AI Tools to streamline your business processes and schedule postings on different platforms. 

4. E-commerce: Selling on platforms like Amazon, Shopify, and Etsy is an excellent way to make money online. E-commerce is a rapidly growing industry, and any entrepreneur can sell products online to generate significant income. There are also several platforms that offer zero monthly fees or low costs web services plans. Reach out to us if you would like to learn more about these low-cost options. 

5. Stock Market Trading:  The stock market provides many opportunities for investors. If you have good knowledge of the stock market and can identify the top-performing stocks, you can trade stocks to earn good profits. Some brokerage firms also offer referral incentives that include significant potential bonuses if qualifying conditions are met.

6. Real Estate Investment: This is one of my favorites.  Investing in real estate is an excellent way to make passive income. Investing in multifamily properties is a good way to build a passive income stream and reduce your taxes at the same time. Many entrepreneurs invest in properties, flip them for a profit, and gain from rental income. Owning and renting real estate is similar to operating a business as you can write off expenses incurred in operating the rental properties. 

7. Web Design and Development: With the increasing demand for websites, web designers and developers are in high demand. If you have the right skills, you can work as a freelance web designer and developer and bring in a steady income. The good news is that advancements in technology and artificial intelligence have made this a lot easier. 

8. Driving for Uber/Lyft: With ride-hailing apps like Uber and Lyft becoming increasingly popular, being a driver for either of these companies can be a lucrative side hustle. Drivers can make up to $20/hour driving for these gig-job apps. These platforms also represent a ready-made market for you to create your own online restaurant and leverage the infrastructure that is already in place. 

9. Online Tutoring: Online tutoring has become increasingly popular over the years. Online tutors can custom design courses in various topics, including business, academics, and other helpful guides that solve pain points for their customers. This is a great opportunity to generate significant passive income as once the courses are created and stored online you only have to drive traffic to your courses. The key is to create a system that will generate organic traffic to your online courses.

10. Graphic Design: Talented graphic designers are in high demand, making it an excellent opportunity to earn some extra cash. Applicants should ensure they are familiar with design software, including Adobe Photoshop, Illustrator, and InDesign. Keeping abreast with the latest developments in #aitools will serve you well with this side hustle as there are many text-to-image tools currently available on the market that require very little knowledge about code or design software. 

11. Consulting: Consultants with industry-specific expertise can advise clients for a fee. Areas of expertise can be from taxes, finance, digital marketing, technology, product development, etc..

12. Photography: Many events and businesses require professional photography services. Entrepreneurs with experience and skills in photography can earn good money by taking photographs for clients. The best part is that you don't need to buy a lot of expensive equipment,  a decent camera and your phone can get you started with this business idea.

13. Translation: Many businesses require translation services for their global audiences. Entrepreneurs with fluency in multiple languages can work as freelance translators and make a decent side income.

14. Affiliate Marketing: Affiliate marketing is an effective way to make money through promoting products. Companies offer a commission for the sale of each item through your affiliate link. This is another great way to build a passive income stream. A well-executed affiliate marketing strategy is built around four essential pillars.  We will discuss this further in a future post. 

15. SEO Consultant: Search engine optimization is a complex but essential part of online business. Entrepreneurs with SEO knowledge can offer consulting services to businesses to improve their search engine rankings. This is a premium service and entrepreneurs who spend the time to develop this skill will benefit immensely. 

16. Podcasting: Podcasts are increasingly popular. Entrepreneurs with expertise in specific areas can create podcasts and generate revenue through advertising and sponsorships. The advent of video podcasting offers an opportunity to design your content in a systematic way that allows you to leverage available technology to repurpose your content across different social media platforms. Developing competence in this skill could be a very profitable side hustle. 

17. Videography: Videography for business events, or personal video production can be a profitable side hustle. Video production tools are extremely affordable, and with platforms like Vimeo and Youtube, distribution is widespread. 

18. Event Planning: Entrepreneurs with good organizational and communication skills can take on event planning as a side hustle. Event planners can charge a fee for coordinating different events, including weddings, corporate events, and holiday parties.

19. Personal Training: Personal trainers can work with individuals to create fitness goals, and charge for personalized programs. Entrepreneurs who are passionate about fitness can earn good money by offering one-on-one services.

20. Online Course Creation: Many entrepreneurs have knowledge of different industries they can create and promote online courses on. This is an excellent way to generate a healthy side income that you can eventually automate to earn passive income. 

As an Entrepreneur looking to diversify your income streams, these twenty listed side hustles can be an excellent way to make an extra $10k per month. By spending time on the side hustles beneficial to your primary business, you can generate a significant amount of money and improve your skills simultaneously.


Investing in real estate is a tried and tested way to build wealth. Property prices typically increase over time, and real estate can offer a reliable stream of passive income through rental payments from tenants. However, many people overlook an essential aspect of investing in real estate- the tax benefits.


Tax benefits of real estate investing


#1. Depreciation


Depreciation is one of the most significant tax benefits of investing in real estate. Depreciation is a tax write-off that allows investors to deduct the cost of a property over a set timeframe. This means that you can deduct the cost of your property as well as other capital improvements from your taxes during the period of their useful life. 


#2. Mortgage Interest Deduction


Another tax benefit is the Mortgage Interest Deduction. For investment properties, you can deduct the interest paid on your mortgage during the course of the year. This deduction is a substantial expense and can mean a significant reduction to your tax liability. AI powered real estate lead generation


#3. Deduction of Property Taxes and Insurance


Real estate investors can also deduct their property taxes and insurance from their tax bills. These costs are typically significant expenses that can eat into your profit. Deducting your property taxes and insurance means you can invest more elsewhere, rather than pay more taxes.


#4. 1031 Exchange


A 1031 Exchange is a great way to defer the tax that you would otherwise owe on the sale of your investment property. Under this tax code rule, you can sell your investment property and use the proceeds to invest in another property without paying any taxes on the capital gains. It's an excellent way to keep your money working for you, rather than giving it away to the government. 


#5. Tax Write-Offs on Expenses


Finally, real estate investors can also claim a deduction on various expenses related to their investment properties. These expenses include repairs, maintenance, and other necessary upgrades. It's essential to keep track of your expenses to ensure that you are claiming all that you can.


It is now easier today to find great real estate deals. With the advancement in technology and the rise of #ai Investing in the right properties has never been easier. #aitools can assign Sellability Scores to Unlisted Properties. The higher the score, the higher the propensity to sell. These tools can help you find off-market deals ahead of the competition. Learn More 


Investing in real estate offers several tax benefits that can reduce your tax liability and increase your profits. Investors can take advantage of depreciation, mortgage interest deduction, deduction of property taxes and insurance, 1031 Exchange, and tax write-offs on expenses. If you're looking into investing in real estate, it's essential to consider the tax benefits that could bring you monetary gains. AI powered real estate leads scored  



#realestateinvesting #taxbenefits #depreciation #mortgageinterestdeduction #propertytaxes  #1031exchange  #taxwriteoffs  #investmentproperties

Plans for every type of investor - Pipeline and pricing 

Top 10 AI tools currently available Including their features and limitations

#1. TensorFlow - Developed by Google, TensorFlow is one of the most popular open-source libraries for machine learning. Its best features include easy deployment, high scalability, and a flexible system for building and training deep learning models. However, it can be challenging for beginners and requires substantial computing resources.

#2. PyTorch - Developed by Facebook, PyTorch is another open-source machine learning library that offers a dynamic approach to building neural networks. It is known for its user-friendly interface and execution speed. Its limitations include limited support for distributed training and not being as optimized as TensorFlow for large-scale deployment.

#3. IBM Watson Studio - IBM Watson Studio is an AI platform that allows users to build and train machine learning models with just a few clicks. It includes pre-built AI models and offers visual drag-and-drop interfaces. However, it is a subscription-based service that can be expensive.

#4. Amazon SageMaker - Amazon SageMaker is an AI platform that offers pre-built models and allows users to build, train, and deploy models easily. It is known for its scalability and ease of use. Its limitations include higher costs for training large datasets and only support Python.

#5. Microsoft Azure AI - Microsoft Azure AI is an AI platform that allows users to build and deploy models with easy integration with Microsoft products. Its best features include drag-and-drop interfaces and flexibility. However, it is a subscription-based service that can be a costly option.

#6. Google Cloud AutoML - Google Cloud AutoML is a platform that allows users to develop custom machine learning models without requiring extensive coding skills. Its best features include an easy-to-use interface and built-in training tools. However, its limited customization options make it difficult for more complex machine learning models.

#7. H2O.ai - H2O.ai is an AI platform that offers open-source machine learning algorithms on a cloud-based platform. It is known for its high-speed processing and automatic feature engineering. However, it lacks some of the advanced features available in other platforms like TensorFlow.

#8. Keras - Keras is an open-source deep learning framework written in Python. Its best features include a simple API that enables fast experimentation and network training. However, it can be less efficient in terms of speed compared to other AI tools.

#9. Caffe - Caffe is a deep learning framework that was originally developed by Berkeley Vision and Learning Center, primarily aimed at image classification tasks. Its best features include a high-speed processing library and a modeling language, but it has limited flexibility for customization.

#10. RapidMiner - RapidMiner is an integrated AI platform that allows for machine learning, text mining, data preprocessing, and predictive analytics. Its best features include easy data handling and professional support. However, its visualization features can be limited, and its user interface can be confusing for novice users.

Overall, choosing an AI tool depends on your specific project and goals. Be sure to consider factors such as ease of use, scalability, cost, and the complexity of the project before making a final decision.