Taylor Gavigan CPA LLC

07/14/2026

Standard Mileage vs. Actual Expense: The Choice You Make in Year 1 Matters

If you use your personal vehicle for business, the IRS gives you two ways to deduct that cost, but the method you pick in Year 1 can lock in your options down the road.

Standard Mileage Rate = Simple

Track your business miles, multiply by the IRS rate, done. You still need a mileage log that includes the date, destination, business purpose, and miles driven for each trip, but you can skip saving every gas and repair receipt.

Actual Expense Method = Detailed

Deduct the real cost of business use including gas, insurance, repairs, depreciation, etc. based on the percentage of miles driven for business. This method demands thorough recordkeeping: every receipt, invoice, and odometer reading, plus a clear log of business vs. personal miles to calculate your business-use percentage. Sometimes a bigger deduction (especially for pricier vehicles), but only if your records can back it up.

Why Year 1 Is the Big Decision

Choose standard mileage first, and you can switch to actual expenses in a later year.

Choose actual expenses first, and you're generally locked into that method for the life of the vehicle (no switching to standard mileage later).

Bottom line: Whichever method you choose, good records from day one are non-negotiable and they're what substantiate your deduction if the IRS ever asks. Starting with standard mileage keeps your options open. Starting with actual expenses is a one-way street.

Not sure which fits your situation? Let's talk. This choice has long-term implications.

07/08/2026

Don’t let the extension deadlines (9/15 and 10/15) sneak up on you!

If you need help filing your tax return this year, schedule some time with me using the link below.

07/04/2026

07/03/2026

If you can’t find a CPA who’s willing to sign a tax return that includes the ideas your business coach is charging you for or something you saw on IG/TikTok….

…don’t assume your CPA is being overly cautious. Sometimes the real issue is that the strategy doesn’t hold up under the tax law given your specific situation.

Before paying for any expensive tax plan, ask one simple question: Will a CPA actually sign the return that reports it?

If the answer is no, or nobody will give you a clear answer, that’s probably worth knowing before you start writing checks to that coach or for items you believe are deductible.

07/02/2026

One of the biggest mistakes I see business owners make is worrying about taxes before they’ve built meaningful profits.

It’s easy to get caught up in conversations about:

* Setting up multiple LLCs that don’t serve a real purpose.
* Creating trusts that don’t actually improve the outcome.
* Electing S-corp status before the tax savings outweigh the additional costs.

The reality is that none of those strategies matter if the business isn’t consistently generating strong profits.

Your business should first be focused on producing the highest return possible on the time, money, and energy you’re investing. Chasing tax savings too early often means pulling cash, time, or attention away from the very thing that creates long-term wealth.

Good tax planning is important—but it’s there to support a profitable business, not replace one.

The most successful business owners I’ve worked with usually follow the same sequence:

1. Build a profitable business.
2. Create sustainable wealth.
3. Then optimize taxes.

Tax strategy can absolutely accelerate wealth creation—but only after there’s wealth to optimize.

06/12/2026

Are you a small business in NYS?

Have at least one employee (this includes you S-Corp owners)?

I can all but guarantee you your 'smiling ted' tax preparer is missing a readily available deduction that is costing you up to $2,000 in income tax.

If you've already filed for 2025, now is a great time to have me review your return and see if you fall into this bucket. If it's worth it, we can amend and get you a refund.

Go to www.gavigan.cpa and book a meeting!

06/09/2026

It's been a while since I last posted anything but I wanted to throw a reminder out there that your 2nd estimated tax payment is due in less than a week (June 15th)!

If your tax preparer didn't calculate estimated payments for you, or you're experiencing a significant increase/decrease in profit this year, I can help you!

Schedule a call using the link below:

05/22/2026

03/31/2026

April 15th is only a couple of weeks away.

If you're scrambling to pull your records together for tax time - don't stress and get overwhelmed.

Instead, I urge you to schedule a meeting with me using the link below.

We'll file an extension to buy you six more months to file. I'll calculate an estimated tax payment based on what info you have to help you avoid penalties and interest.

***An extension buys you more time to file, not more time to pay.

This is common and filing an extension is nothing to feel ashamed about, especially if you're a business owner!

We'll work together over the next few months to clean up your books, figure out a solution moving forward, and, most importantly, put your mind at ease.

I do charge a small fee for my time, but that fee is credited towards the project if you decide to work with me.

I try to be as transparent as possible with respect to my fees via my website to give everyone an idea before scheduling a meeting.

03/11/2026

Monday, 3/16, is the filing deadline for Partnerships and S-Corps.

If you still need time to gather documentation for your business tax return, that's okay! Additionally, if you're an LLC, your state may require you to file a separate state filing by 3/16 (NYS is one of them!).

Contact your tax preparer TODAY to file an extension and help avoid penalties.