Havig Tax & Consulting

07/18/2026

In the first half of this year, about 3.1 million Americans filed paperwork to start their own business, up nearly 17% from the about 2.6 million who filed during the same period in 2025 with uncertainty fueling the rise.

Small business creation is booming. Amid economic uncertainty, more workers are becoming their own boss. Here's what they think you should know.

07/17/2026

Great news! Beginning July 1, 2026, the optional standard mileage rates for the use of a car, van, pickup, or panel truck will be 76 cents per mile driven for business use, up from 72.5 cents previously.

Higher fuel prices prompted the IRS to raise the business, medical, and qualified moving rates for mileage on or after July 1, 2026.

07/17/2026

Most business owners didn't start their company because they love looking at financial statements. They started it to build something!

The problem is that many owners only look at their numbers when it's time to file taxes, but by then, it's too late to make meaningful changes.

Good accounting isn't about categorizing transactions. It's about giving you the information to make better decisions all year long.

Your financials should help you answer questions like:
• Which services are actually making you money?
• Are your prices keeping up with rising costs?
• Can you afford to hire another employee?
• Is cash flow improving or getting tighter?
• Are you paying more in taxes than necessary?

When your books are accurate and up to date, you're not making decisions based on gut instinct, you're making decisions based on facts.

07/16/2026

Consumers are feeling the pinch of inflation, but many aren't totally giving up on treats like vacations.

07/16/2026

TFW you login to your all new client portal and upload your tax docs securely instead of emailing them 😎

https://havigtaxconsulting.taxdome.com/

07/16/2026

New business owner? New MN sales tax requirements!

The Minnesota Dept of Revenue offers educational opportunities for small business owners to learn about sales tax obligations.

Check it out! ⬇⬇

We offer webinars and videos to learn more about Sales and Use Tax.You must register in advance for our webinars. All webinars are free and open to the public. You will receive an email confirmation when your registration is processed.Each webinar can accommodate 490 attendees. We may cancel a sessi...

07/15/2026

For most entrepreneurs, taxes are the biggest expense you’ll pay throughout your lifetime. Often even more than your mortgage or education! That’s why proactive tax planning is so important.

By working with a tax professional and using the right strategies, you can keep more of your hard earned money, reduce your tax bill, and reinvest in your business and future.

Click over to www.havigtax.com to schedule a time to chat about tax planning!

07/14/2026

Being indispensable feels like proof of your value. The market prices it as a defect, and it's right.

07/14/2026

It's and today let's talk about the differences between Payroll and an Owner's Draw

If you're a business owner, it's important to understand how you should pay yourself, and the answer is, as always, "It depends!" But it actually does depend on how your business is structured.

An owner's draw is money you take out of your business for personal use.

A payroll paycheck is compensation paid to you as an employee of your business. If your business is taxed as an S Corp, the IRS generally requires owners who actively work in the business to pay themselves a reasonable salary through payroll.

Here are the differences:

• Owner's Draw: Transfers money from the business to you, but is not a business expense and doesn't reduce your business's taxable income.

• Payroll: Wages paid through payroll are a deductible business expense, but they're subject to payroll taxes and reporting requirements.

Not sure if you're paying yourself correctly? It's worth reviewing your entity structure and compensation strategy before tax season arrives.

07/13/2026

Did you know: In the first half of this year, about 3.1 million Americans filed paperwork to start their own business, up nearly 17% from the about 2.6 million who filed during the same period in 2025!

Small business creation is booming. Amid economic uncertainty, more workers are becoming their own boss. Here's what they think you should know.