Reading the 1099-K correctly
A 1099-K reports gross payment volume, not profit. Fees, refunds, cost of goods sold, and other expenses must be documented in the books so the return reflects what the business actually earned.
Tax planning & preparation
Plan for taxes before filing season, not after the 1099-K arrives.
Tax preparation is stronger when the books were right all year. Cindy looks for ways to save on taxes while staying compliant with the tax laws.
Estimated payments
Growing sellers often underestimate what they owe. Reviewing results through the year helps set estimated payments that match reality.
Entity considerations
As the business grows, Cindy discusses whether the current structure still fits and what a change would mean.
Preparation
Federal and state returns prepared from reconciled books, with documents exchanged securely through the SmartVault client portal.
