J Smith & Company

J Smith & Company Reliable, professional accounting services for individuals and businesses across all 50 states. From tax prep to bookkeeping — we make the numbers work for you.

Trusted expertise, nationwide reach. Schedule your free financial analysis today!

Health insurance is already a major expense. If you are self-employed, it can also create a valuable tax deduction.For t...
09/25/2026

Health insurance is already a major expense. If you are self-employed, it can also create a valuable tax deduction.

For those who meet the IRS requirements, qualifying medical, dental, and certain long-term care insurance premiums can reduce taxable income.

The key is knowing whether you qualify and structuring the deduction correctly.

09/23/2026

Your business structure affects more than what is written on your paperwork. It affects how your income is taxed.

An S Corp election allows qualifying business owners to structure their income differently, reduce self-employment taxes, and keep more of what they earn.

Tax strategy is not just about what you earn. Timing matters too.When income is received and when qualifying expenses ar...
09/22/2026

Tax strategy is not just about what you earn. Timing matters too.

When income is received and when qualifying expenses are paid can impact your taxable income for the year. Planning ahead gives you more opportunities to make those decisions strategically.

Once the year ends, many of those options are gone.

09/21/2026

Paying more in taxes does not mean you are doing something right. It often means there may be strategies you are not using.

The goal is not to avoid taxes. It is to understand the tax code, plan proactively, and make sure you are not paying more than legally required.

Keep more of what you earn by planning before the tax bill arrives.

Self-employed individuals have access to retirement strategies that can help them keep more of what they earn.A Solo 401...
09/18/2026

Self-employed individuals have access to retirement strategies that can help them keep more of what they earn.

A Solo 401(k) allows eligible business owners to contribute as both the employee and employer, potentially creating significantly more room for retirement savings while building a stronger tax strategy.

The opportunity is there. The key is knowing how to use it.

09/17/2026

Business ownership can create tax opportunities that W-2 income alone may not provide.

When an expense has a legitimate business purpose, the tax code may allow you to deduct it. The key is knowing what qualifies, documenting it correctly, and having the right strategy in place.

Your everyday expenses could look very different with the right business structure.

09/16/2026

You can grow your income year after year, but without proactive tax planning, a bigger income can also mean a bigger tax bill.

Tax strategy is about making intentional decisions before tax season. How your business is structured, how you pay yourself, when you make certain purchases, and which strategies you qualify for can all impact what you ultimately keep.

Earning more creates opportunity. Having a strategy helps you keep more of what you worked for.

If you’re making more but feel like too much of it is going to taxes, it may be time to look at your strategy.

Some businesses deduct assets over several years. Others can accelerate those deductions and get the tax benefit much so...
09/15/2026

Some businesses deduct assets over several years. Others can accelerate those deductions and get the tax benefit much sooner.

Strategies like Section 179 and bonus depreciation can change when qualifying asset purchases are deducted. The key is knowing which rules apply and planning purchases around them.

Timing can make a major difference in your tax strategy.

09/14/2026

Lowering your tax bill is not always about finding more strategies. Sometimes, it is about using the right strategies at the right time.

Tax planning works best when each move is part of a bigger plan. The order you make those moves can affect how much you actually save.

You might already be doing the right things. The question is whether you are doing them in the right sequence.

A better tax strategy starts with a better plan.

Your business structure can have a major impact on how much you pay in taxes.As your business grows, the structure that ...
09/10/2026

Your business structure can have a major impact on how much you pay in taxes.

As your business grows, the structure that worked in the beginning may no longer be the best fit. Reviewing your entity and tax election can uncover opportunities to reduce unnecessary taxes and create a better strategy for the future.

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