McPhee Accounting Services

There’s no simple yes or no. Crypto can be part of an investment strategy—but it shouldn’t be your entire strategy.

Here’s what many financial professionals recommend:

📌 Build an emergency fund first.

📌 Pay off high-interest debt.

📌 Invest consistently in your retirement and long-term goals.

📌 Only then consider crypto—and only with money you can afford to lose.

Many financial advisors suggest keeping crypto to a small portion of your portfolio (often around 2–5%) because it’s still one of the most volatile asset classes.

A simple example:

If your investment portfolio is $100,000, a 5% allocation would be $5,000 in cryptocurrency and $95,000 in other investments.

If crypto doubles, your portfolio benefits. If crypto drops 50%, it hurts—but it doesn’t destroy your financial plan. That’s the difference between investing and gambling. The goal isn’t to chase the next big winner. The goal is to build long-term wealth while managing risk. What works for one investor may not be right for another, so every investment decision should fit your own financial goals and risk tolerance.

3 Simple Ways to Legally Lower Your Tax Bill

Most people think paying less tax is about finding loopholes.

It isn’t.

Many business owners legally reduce their taxes by using deductions and tax benefits that are already available.

1. Deduct legitimate business expenses

If you spend money to run your business, you may be able to deduct it. This can include software, advertising, office supplies, business insurance, professional services, business mileage, and even part of your home expenses if you qualify. Just remember: the expense must be ordinary and necessary for your business, and you should always keep good records.

2. Contribute to a retirement plan

If you’re self-employed or own a business, you may qualify to contribute to a SEP IRA, SIMPLE IRA, or Solo 401(k). These contributions can help you save for retirement while potentially lowering your taxable income.

3. Use an HSA if you’re eligible

If you have a qualifying high-deductible health plan, you may be able to contribute to a Health Savings Account (HSA). An HSA offers valuable tax advantages when used for qualified medical expenses. The biggest tax savings usually come from planning before tax season—not after it.

Every business is different, so the best strategy depends on your specific situation.

📌 Save this post for tax season, and talk to your tax professional before making tax decisions.

🏡 Did you know the average U.S. homeowner has nearly 38 times more wealth than the average renter?

Sounds like buying a home is the obvious choice… right?

Not always.

According to Federal Reserve data, the median net worth of homeowners is around $396,000, compared to just over $10,000 for renters.

But here’s what those numbers don’t tell you.

Buying a home only makes sense if you can actually afford to own it.

Beyond the mortgage, you’ll also pay for property taxes, homeowners insurance, maintenance, repairs, and sometimes HOA fees.

We’ve seen business owners stretch their budget just to buy a house—only to find themselves short on cash when an opportunity came up to grow their business.

Sometimes renting for a little longer puts you in a stronger financial position than buying before you’re ready.

The goal isn’t simply to become a homeowner. It’s to build wealth without creating financial stress.

What would you choose today—buy or rent?

Most business owners spend too much time trying to look successful. But clients don’t stay because of a great logo, an expensive office, or a polished social media page. They stay because you make their lives easier. The same applies to bookkeeping and taxes.
Your financials shouldn’t create more stress—they should give you confidence to run your business. The businesses people recommend aren’t always the most impressive. They’re the most reliable.
If this is the kind of business you’re building, save this post for later.

Every business owner remembers the moment when everything suddenly became easier.

Not because the business got simpler.

But because they finally found someone they could trust.

Running a business means making hundreds of decisions every month. Taxes, bookkeeping, payroll, deadlines… one small mistake can cost you time, money, and a lot of stress.

Reviews like this mean more to us than any advertisement because they come from real experience.

“I’ve worked with James for a couple of years… and he’s made a lot of difficult things a lot easier.”

That’s exactly what we want every client to feel.

If you know a business owner who’s trying to handle everything alone, share this post with them. Sometimes the right accountant is the difference between constantly putting out fires and actually growing your business.

Thank you, Angela, for your trust. We truly appreciate it. ❤️

One of the biggest mistakes business owners make is believing every client is a good client.

Some clients pay late.
Some expect free work.
Some consume more time than they’re worth.

The businesses that grow the fastest aren’t afraid to say “no” to the wrong opportunities.

Protect your time.
Protect your team.
Protect your profit.

Are You Missing Out on Free SBA Resources?

Most small business owners think the SBA is only for business loans.

In reality, the SBA works with a nationwide network of official Resource Partners that provide free mentoring, business consulting, workshops, and educational resources to entrepreneurs.

Many business owners never take advantage of these programs—even though they’re available at no cost.

Some of the SBA’s official Resource Partners include:

✅ SCORE – Free one-on-one mentoring from experienced business professionals.

✅ Small Business Development Centers (SBDCs) – Free consulting on business planning, marketing, financing, operations, and growth.

✅ Women’s Business Centers (WBCs) – Training, mentoring, and support for women entrepreneurs.

✅ Veterans Business Outreach Centers (VBOCs) – Business assistance for veterans, service members, and military spouses.

Many business owners spend thousands on consultants before realizing these resources already exist.

If you’re running a business, ask yourself:

When was the last time you took advantage of the free resources the SBA and its Resource Partners offer?

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