LIC TAX & Accounting Services

07/20/2026

Estate planning is not just for billionaires.

It is for business owners.
Parents.
Homeowners.
Investors.
Anyone who has built something worth protecting.

The uncomfortable truth is simple.

If you do not make clear decisions while you can, those decisions may be made later by courts, tax rules, family conflict, or people who do not understand what you wanted.

A real financial plan does not end at retirement.

It considers what happens after you.
Who receives what.
How efficiently it transfers.
How taxes are handled.
How conflict is avoided.

That is not dark.

That is responsible.

07/17/2026

Providing a gift of stock can make sense if handled properly. Read more.

Providing a gift of stock (or other property) to a friend or loved one can be a powerful tax planning tool. However, it is not without its complications.

07/10/2026

Pass-through entities such as S corporations and certain partnerships offer legal protections and avoid double taxation. Does it make sense for your business?

Given the popularity of this business format, it continues to drive tax policy. Here is what you need to know.

07/03/2026

The ensure you're ready for an audit, tax returns should be kept indefinitely and supporting documents should be kept a minimum of three years.

After filing your tax return, do not close the book on your taxes until you have set up next year's files, purged unneeded old records, and prepared your records in case of an audit. Here are some tips.

07/01/2026

Side hustle income, tax tips, smarter food budgeting, and the growing trend of unplugging from screens. This month's insights can help you keep more money and spend more time on what matters.

Many Americans are taking on side hustles and part-time jobs to boost their income. While earning extra money can help pay for vacations or provide a financial cushion for your family, it can also increase your tax bill. In this month's newsletter, learn how additional income may affect your tax sit...

06/30/2026

Large business purchases can be smart, but they should never be made only because something is deductible.

That is one of the biggest mistakes I see business owners make.

They hear the phrase “write off” and start treating the purchase like it is free money. It is not.

A deduction can reduce taxable income, but it does not erase the fact that cash left the business. That money still had to come from somewhere, and after the purchase is made, the business still has to operate.

That is why I think every large business purchase deserves a pause.

Before you spend the money, ask whether the purchase actually makes the business stronger.

Ask how long it may take for that purchase to create a return.

Ask what happens to cash flow after the money leaves the account.

Ask whether you are buying something because the business truly needs it, or because the tax benefit sounds attractive in the moment.

The best business owners do not avoid spending money. They spend with intention.

They understand that some purchases help create capacity, efficiency, revenue, protection, or long term value. Those are different from purchases that simply feel productive or impressive.

There is a big difference between investing in the business and spending inside the business.

A good tax strategy should support a smart financial decision. It should not be used to rationalize a decision that does not make sense on its own.

The goal is not to spend more just to pay less in taxes.

The goal is to make decisions that leave the business stronger after the money is spent.

06/29/2026

High earners can get away with a lot financially.

For a while.

The income covers the mistakes.
The bonus patches the gaps.
The business distribution smooths everything over.
The cash flow makes it feel like things are fine.

But eventually, weak planning shows up.

Usually through taxes.
Or retirement.
Or a liquidity problem.
Or an unexpected life event.
Or a business transition.

A strong income is powerful.

But it needs structure around it.

If you are earning more than ever and still feel like your financial life is not as organized as it should be, reach out to me or LIC Tax & Accounting.

06/26/2026

It's not always a good idea to amend a tax return. Do you know how to choose?

Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.

06/26/2026

One of the things I wish more people understood is that retirement income is not just about how much you saved.⁠
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It is also about the order you take the money out.⁠
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Two people can retire with the same amount saved and end up with very different outcomes depending on how they draw from taxable accounts, pre tax retirement accounts, Roth accounts, cash reserves, business income, rental income, and Social Security.⁠
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The wrong withdrawal strategy can push you into a higher tax bracket, increase the portion of Social Security that becomes taxable, create unnecessary capital gains, or force you to sell investments at the wrong time.⁠
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The right strategy gives you more control.⁠
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Some years, it may make sense to live off cash and taxable brokerage assets. Other years, it may make sense to do Roth conversions. At a certain point, required minimum distributions may change the entire plan.⁠
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This is where tax planning and retirement planning have to speak to each other.⁠
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If you want help building a smarter retirement income strategy, reach out to me and the team at LIC Tax and Accounting.

06/25/2026

Most people do not ruin their financial life with one bad decision.

They usually do it slowly.

They wait too long to look at the numbers. They avoid the hard conversations. They tell themselves they will get organized next month. They make business decisions based on what is in the checking account instead of what the business can actually afford. They assume that because money is coming in, they are doing fine.

I see this all the time.

A business owner can be talented, busy, respected, and still be financially unclear. A high earner can make great money and still feel behind. A family can have income, assets, and opportunity, but no real plan for what happens next.

That is why I always tell people that financial clarity is not about being perfect. It is about being honest.

Honest about what is coming in.

Honest about what is going out.

Honest about what you owe.

Honest about what you are building.

Honest about whether your current habits match the future you say you want.

The earlier you get honest, the more options you usually have.

You can plan before tax season becomes a problem. You can structure your business before the growth gets messy. You can save before retirement feels urgent. You can invest before you feel like you are playing catch up. You can make decisions from a place of strategy instead of stress.

That is the part of this work I care about most.

Yes, I help people with taxes, accounting, planning, and financial decisions. But underneath all of that, I am really helping people see clearly.

Because when you can see clearly, you make better decisions.

And when you make better decisions consistently, your whole life starts to feel different.