Track - Tax and Accounting

Track - Tax and Accounting Long-term partner for individuals & businesses ready to get their taxes and accounting on track.

An extension doesn't mean trouble. It means more time to file, not more time to pay. Any tax owed is still due on the or...
08/25/2026

An extension doesn't mean trouble. It means more time to file, not more time to pay. Any tax owed is still due on the original deadline; the extension just gives you room to wait on a missing document or sort out something complicated before filing. Millions get filed every year for exactly that reason.

Financial advisors: Sync is Track's financial advisor partnership program. Flexible tax planning and preparation built a...
08/19/2026

Financial advisors: Sync is Track's financial advisor partnership program. Flexible tax planning and preparation built around your clients' needs, plus support for the one-off tax questions that come up along the way. Learn more: trackcpa.com/sync

An HSA is one of the few accounts with a triple tax advantage: contributions can reduce your taxable income, the money c...
08/17/2026

An HSA is one of the few accounts with a triple tax advantage: contributions can reduce your taxable income, the money can grow tax-free, and withdrawals are tax-free when used for qualified medical expenses. If you are eligible to contribute, an HSA can be more than a way to pay medical bills today. Unused funds can roll over year after year, stay with you if you change jobs, and potentially be invested for future healthcare costs. The key is making sure you qualify, usually by being covered under an HSA-eligible high-deductible health plan, and using the funds for qualified medical expenses. Used correctly, an HSA can be one of the most tax-efficient accounts available.

QBI can be a great tax deduction for business owners, but it's not as simple as "deduct 20%." Many pass-through business...
08/13/2026

QBI can be a great tax deduction for business owners, but it's not as simple as "deduct 20%." Many pass-through business owners may qualify, but your business structure, income, and other factors determine whether you qualify and how much you can deduct.

S-corp distributions can be tax-efficient, but they’re not a substitute for reasonable W-2 pay. If you work in your S-co...
08/11/2026

S-corp distributions can be tax-efficient, but they’re not a substitute for reasonable W-2 pay. If you work in your S-corp, your salary should reflect the services you actually perform. Your role, responsibilities, time commitment, experience, and what similar businesses would pay for similar work. After that, additional profits can generally be taken as distributions. But when distributions are used to replace wages, the IRS can reclassify them as compensation. Getting the split right matters.

Quick mid-year check: income changes, asset sales, and withholding. Three things worth 15 minutes before Q3 hits. A litt...
08/09/2026

Quick mid-year check: income changes, asset sales, and withholding. Three things worth 15 minutes before Q3 hits. A little now beats a surprise later.

A refund feels like a win, but it’s not extra money from the IRS. It’s money you paid in throughout the year that you di...
08/07/2026

A refund feels like a win, but it’s not extra money from the IRS. It’s money you paid in throughout the year that you didn’t end up owing. The goal isn’t the biggest refund possible; it’s having your withholding set up so you keep more of your money throughout the year.

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3900 Northwoods Drive Ste 160
Arden Hills, MN
55112

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