Todd Greene, CPA

Running a business means keeping track of a lot more than just the day-to-day.
The good news? You don't have to navigate every financial challenge on your own. Having the right systems, guidance, and support in place can help you stay ahead and make smarter decisions along the way.
Save this post for a reminder of what to keep on your radar. ✔️

Tax planning shouldn't start when tax season does.

Taking time throughout the year to review your finances, anticipate changes, and look for opportunities can help you make smarter decisions when tax time arrives.

At Todd Greene CPA, we believe proactive planning is the key to minimizing tax obligations and keeping more of what you've worked hard to earn.

A tax deduction and a tax credit are not the same thing.

A deduction reduces the income you are taxed on. A credit reduces the actual tax bill itself, dollar for dollar. That makes credits generally more valuable and worth knowing about.

Some credits are refundable, meaning you can receive the difference as a refund even if the credit exceeds what you owe. Others are non-refundable, meaning they can only reduce your bill to zero.

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If you are self-employed and pay for your own health insurance, you may be able to deduct 100% of those premiums for yourself, your spouse, and your dependents.

This deduction is taken directly from your adjusted gross income, which means it reduces your tax bill even if you do not itemize. It is one of the most valuable and underused deductions available to small business owners.

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Running a business means keeping your eyes on a hundred things at once.

Tax season should not be the thing that derails you. We stay on top of the financial details year-round so that when April comes, you are ready, not scrambling.

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Running a business in Charlotte means navigating a competitive, fast-moving market.

From Ballantyne to South End to NoDa, the small business owners here are building real things and dealing with real financial complexity along the way. We are proud to help.

Visit toddgreenecpa.com to learn more about how we support local business owners.

If you paid an independent contractor $600 or more in a calendar year, you are generally required to issue them a Form 1099-NEC.

Missing this filing can result in penalties, and the IRS cross-references these forms to verify contractor income. Getting it right each year keeps your business in good standing and avoids a headache come January.

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Business meals can be a legitimate tax deduction, but the rules matter.

Generally, meals that are ordinary and necessary for your business, where a business discussion takes place, may be 50% deductible. The key is documentation: who you met with, what was discussed, and the business purpose.

Meals that are lavish, purely social, or lack documentation do not qualify.

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Every dollar you put back into your business (equipment, software, training, marketing, etc.) is a decision that has tax implications.

Some expenses are fully deductible in the year you pay them. Others need to be capitalized and depreciated over time. Knowing the difference means you are not leaving money on the table.

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Charlotte has quietly become one of the top financial services hubs in the country, second only to New York City in banking assets.

That kind of economic density creates real opportunity for small business owners. It also means the competition for talent, clients, and growth is real.

We help Charlotte-area business owners stay financially sharp so they can compete.

Visit toddgreenecpa.com to learn more.