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The Brilliant Blog
Business news, tax planning services, pro accounting tips, tutorials for QuickBooks, software reviews, & more.
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How HSAs and HDHPs Can Help Manage Rising Health Care Costs
Health care costs continue to place pressure on many households and business owners. Premiums, deductibles, prescriptions, and out-of-pocket expenses can make it difficult to feel confident about choosing the right health insurance strategy. For some taxpayers, a Health Savings Account, often called an HSA, paired with a qualifying High-Deductible Health Plan, or HDHP, may provide a useful way to manage medical costs while receiving valuable tax benefits.
Shawna Echols
3 days ago6 min read


Emergency Savings in America: Why Financial Breathing Room Matters More Than Ever
Many households look financially stable from the outside. They are working, paying bills, keeping up with regular obligations, and trying to make responsible decisions. Yet underneath that routine, many families are operating with very little room for error. One unexpected expense can change the picture quickly. A car repair, medical bill, insurance increase, home repair, or a few difficult months in a row may be enough to push a household from manageable to strained.
Shawna Echols
Jul 224 min read


The Side Hustle Tax Trap: What Young Earners Should Know Before Tax Season
Freelance income, gig work, creator payments, and online sales can create real tax responsibilities, even when they feel informal.
Side hustles have become a normal part of how many younger workers earn money. Some freelance after work. Some drive for delivery apps. Some sell products online, create digital content, take brand partnerships, offer coaching, or pick up contract projects through online platforms.
Shawna Echols
Jul 175 min read


Can the IRS See Your Venmo, PayPal, or Cash App Transactions?
Digital payment platforms have changed the way businesses, freelancers, creators, and side hustlers get paid. A customer can send money through Venmo. A client can pay through PayPal. A creator can receive funds through Stripe. A seller may have income coming from Shopify, Square, Cash App Business, or several online marketplaces at the same time.
That convenience is helpful, but it can also create tax confusion. Payment apps often feel casual because they are fast, famili
Shawna Echols
Jul 86 min read


Game, Set, Tax: Are Youth Sports Expenses Tax Deductible?
Youth sports can be a meaningful investment in a child’s development, but they can also become a serious line item in the family budget. Between registration fees, private coaching, equipment, travel, tournament costs, hotel stays, and meals on the road, parents often wonder whether any of those expenses can help at tax time.
The honest answer is that most youth sports expenses are personal expenses. Personal expenses are generally not deductible simply because the activit
Shawna Echols
Jul 17 min read


The Millionaire Tax Movement Is Growing: What Business Owners and High-Income Taxpayers Should Know
State and federal tax proposals targeting high-income earners, high-value property owners, and ultra-high-net-worth households are gaining attention across the country.
These proposals do not all work the same way. Some are income surtaxes. Others focus on net worth, real estate transfers, luxury second homes, or high-value property. Some have already been enacted, while others are still moving through legislatures, courts, or ballot processes.
For business owners, invest
Shawna Echols
Jun 296 min read


What the Atlanta Hawks Embezzlement Case Can Teach Business Owners About Internal Controls
A recent $3.7 million embezzlement case highlights how growing businesses can reduce risk through stronger financial oversight and internal controls.
A recent federal embezzlement case involving a former Atlanta Hawks finance executive serves as a reminder that some of the most significant financial risks businesses face can come from within their own organizations. Sometimes significant risk arises when a trusted employee has broad financial authority without sufficient ind
Shawna Echols
Jun 295 min read


The IRS Is Taking a Closer Look at Aggressive Tax Strategies: What Business Owners Should Know
Most business owners do not want to pay more tax than necessary. Business owners are allowed to plan around taxes. The issue is not whether a strategy reduces tax liability. The issue is whether the strategy has a real business purpose and meaningful economic effect beyond the tax benefit.
That's smart planning, and it's something every successful business should consider.
Shawna Echols
Jun 293 min read


The 3 Numbers Every Business Owner Should Review Monthly
Most business owners can tell you their revenue from last month. Fewer can quickly answer how long their business could operate if revenue slowed, what they actually earn after direct costs, or how much profit they keep after expenses.
That distinction matters because revenue alone does not measure liquidity or profitability. Revenue can make a business look strong while cash flow, pricing, or margin problems build underneath. A monthly review of the right numbers helps yo
Shawna Echols
Jun 294 min read
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