Practical Tax & Accounting
Insights for Business Owners

Online programs like QuickBooks Online have made it remarkably easy for business owners to do at least some of their own bookkeeping. Connect your business bank account and credit cards, and transactions start flowing into QuickBooks automatically. It can almost feel like the bookkeeping is happening for you. And that’s where one of the biggest…

If you’ve been researching retirement planning, you’ve probably come across the term Backdoor Roth IRA. It sounds complicated—almost like a secret tax strategy—but it really isn’t. A Backdoor Roth IRA isn’t a special type of retirement account, a tax loophole, or a hidden IRS program. It’s simply a series of transactions that use existing retirement…

Tactical. Practical. Efficient. At Fortitude Tax & Accounting, these three words guide nearly everything we do. As business owners ourselves, we understand that time, cash flow, and attention are limited resources. Our clients don’t need more reports, more meetings, or more complexity. They need clear guidance, practical recommendations, and enough time to take meaningful action….

The Complete 1099 Compliance Guide for Small Business OwnersEverything You Need to Know—Without the Confusion If 1099 reporting feels overwhelming, you’re not alone. For many small business owners, landlords, therapists, and real estate professionals, 1099 compliance is one of the most confusing parts of running a business. The rules aren’t always intuitive, they’ve changed over…

Every January, small business owners find themselves searching through emails, spreadsheets, and old invoices trying to figure out who needs a 1099. The process feels complicated until you understand a few simple rules—and once you do, issuing 1099s becomes one of the easiest year-end tasks in your business. This beginner-friendly guide breaks down what you…

Every small business owner eventually asks the same question: “Where does my owner’s draw show up in my financials—and what does the IRS really tax?” The IRS does not tax how much money you take out of your business. Instead, it taxes your business profit and taxable wages, depending on your entity type. Whether you’re…

Whether you’re a solo practitioner, PLLC, S-Corp, or group practice owner, the IRS considers therapists and therapy practices to be businesses. That means the same contractor and 1099 rules that apply to small businesses also apply to you. Many therapists unintentionally skip required 1099s because they: Assume their EHR handles tax reporting Pay contractors through…

Whether you work solo, on a team, or lead your own real estate business, the IRS views you as a business owner. That means you must follow the same 1099 rules as any other independent professional. Every year, realtors miss required 1099 filings because they: Assume the brokerage handles it Don’t realize which vendors need…

Every January, business owners scramble to collect W-9s, figure out who they paid, clean up payment records, and rush to file 1099s by the deadline. But the truth is simple: 1099 filing is easy when your vendor list is organized year-round. A clean vendor list means: No missing W-9s No guessing who needs a 1099…

Landlord 1099 Requirements Explained: Contractors, Property Managers & More Landlords operating rental properties are considered business owners, and like any business owner, landlords may need to issue 1099s for certain payments throughout the year. Unfortunately, most landlords don’t learn these rules until tax time, when their CPA asks for contractor totals and W-9 forms. This…