Quantinuum CPA

https://www.wsj.com/business/autos/gm-to-produce-patriot-missile-parts-as-u-s-faces-critical-arms-shortage-c0f94101

If GM can turn assembly lines into missile production, you can definitely launch that new product line you've been putting off.

And just like GM, you can write off 100% of your new equipment in Year 1 using Section 179.

If you're adding a new revenue line before year-end and want guidance on how to structure it right, DM us.

GM to Produce Patriot Missile Parts as U.S. Faces Critical Arms Shortage The Detroit automaker’s partnership with Lockheed Martin is a potential lift to America’s munitions supplies depleted by the conflicts in Ukraine and the Middle East.

If your business is growing, your tax strategy shouldn’t stay on last year’s settings. This guide lays out practical business tax planning—how to structure smarter, anticipate cash-flow impacts, handle multi-year and back-tax issues, and reduce surprises during IRS scrutiny. Written in plain English, it’s a hands-on roadmap for owners and advisors who want precision, confidentiality, and proactive thinking from someone who stays in the driver’s seat. When taxes are complex, the right planning approach can protect your momentum and your bottom line.

https://quantinuum.cpa

𝗗𝗼 𝗜 𝗵𝗮𝘃𝗲 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗾𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝘁𝗮𝘅 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝗜 𝗼𝘄𝗻 𝗮 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀?

Unless your business is a tax-exempt 501(c)(3) or you expect to owe under $1,000 in total tax, you are required to make quarterly estimated tax payments to the IRS.

This estimate covers income tax you'll owe as well as the 15.3% self-employment tax that you also must cover.

To stay ahead of your deadlines, open a separate tax savings account and automatically transfer 25% to 30% of your net profits into it.

That way, the money is already set aside when payment time comes.

𝗖𝗮𝗻 𝗜 𝗳𝗶𝗹𝗲 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝘁𝗮𝘅 𝗲𝘅𝘁𝗲𝗻𝘀𝗶𝗼𝗻 𝗮𝗳𝘁𝗲𝗿 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟭𝟱?

No, if you filed an extension in April, October 15 is your federal deadline. There’s commonly no second standard extension.

Missing a W-2 or 1099? Check your IRS Online Account and then send us what documents you do have so we can start preparing your return.

𝗜𝗳 𝗜 𝗾𝘂𝗮𝗹𝗶𝗳𝘆 𝗳𝗼𝗿 𝗜𝗥𝗦 𝗽𝗲𝗻𝗮𝗹𝘁𝘆 𝗿𝗲𝗹𝗶𝗲𝗳, 𝗱𝗼𝗲𝘀 𝘁𝗵𝗮𝘁 𝗲𝗿𝗮𝘀𝗲 𝘁𝗵𝗲 𝗳𝗲𝗱𝗲𝗿𝗮𝗹 𝗶𝗻𝗰𝗼𝗺𝗲 𝘁𝗮𝘅 𝗮𝗻𝗱 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗜 𝗼𝘄𝗲 𝘁𝗼𝗼?

No, if the IRS approves penalty relief, it can remove a qualifying penalty, but it does not erase the underlying federal income tax you owe. And interest on unpaid tax may still be due.

𝙄𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩 𝙙𝙞𝙨𝙩𝙞𝙣𝙘𝙩𝙞𝙤𝙣: If a penalty is removed, the IRS often adjusts the interest that was charged specifically on that penalty as well.

So if you receive penalty relief, make sure you understand exactly what was removed and what you still owe.

Missing a key tax document can derail everything—quickly. In our latest post, we walk through a fast, no-drama recovery process that protects your timeline and reduces the risk of errors, even when you’re dealing with multiyear filings, back taxes, or cross-border complexity. You’ll get a practical checklist of what to request, who to contact, and how to document the gaps so your return is accurate and defensible. If you’re tired of slow responses and last-minute surprises, this is the calm, expert approach you’ve been looking for.

https://quantinuum.cpa

𝗖𝗮𝗻 𝗜 𝗱𝗲𝗱𝘂𝗰𝘁 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 𝗜 𝘀𝗽𝗲𝗻𝘁 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝗺𝘆 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘀𝘁𝗮𝗿𝘁𝗲𝗱?

No, not every dollar you spend before opening your business gets treated the same way, because the timing of those expenses matters.

Money you spend before your business officially opens can count as startup costs. Think about expenses like:
• Market research
• Advertising your grand opening
• Travel to secure suppliers
• Employee training before day one
• Legal or professional fees related to starting the business

You can write off up to $5,000 of qualifying startup costs in your first active tax year. If your startup costs exceed $50,000, your immediate write-off loses $1 in value for every extra $1 you spend and drops to zero if you pass $55,000.

And any remaining costs over the initial deduction limit have to be spread out over 15 years.

𝘞𝘩𝘪𝘤𝘩 𝘴𝘵𝘢𝘳𝘵𝘶𝘱 𝘦𝘹𝘱𝘦𝘯𝘴𝘦 𝘥𝘰 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴 𝘨𝘦𝘵 𝘴𝘶𝘳𝘱𝘳𝘪𝘴𝘦𝘥 𝘣𝘺 𝘵𝘩𝘦 𝘮𝘰𝘴𝘵?

𝗪𝗵𝗮𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗿𝗲𝗰𝗼𝗿𝗱𝘀 𝘀𝗵𝗼𝘂𝗹𝗱 𝗜 𝗮𝗹𝘄𝗮𝘆𝘀 𝗵𝗮𝘃𝗲 𝗯𝗮𝗰𝗸𝗲𝗱 𝘂𝗽?

Make sure you have electronic copies of your...
• 3 to 7 years of tax returns
• Recent bank and investment statements
• Insurance summary pages (auto, home, health, life)
• Property deeds, car titles, and leases
• Basic business records (LLC setup files and contracts)

Tracking down lost copies can easily take 8 to 15 hours of phone calls and waiting on hold... which is the last thing you need during an emergency.

September goal: Spend 30 minutes this week downloading or scanning these files, and save them in one secure spot. Make sure you can access them even if your phone or laptop dies.