Archives for January 2025

I’ve seen that look hundreds of times. You know the one – when a business owner realizes they might be in trouble with their taxes.

I saw it again last week.

A young couple sat across from my virtual desk, excited about their new partnership. They had the entrepreneurial spark in their eyes. But when I asked a simple question – “What’s your net profit?” – that spark turned to panic.

That’s when I knew.

No bookkeeping. No records. No idea.

Here’s the thing about running a business: The IRS doesn’t care that you’re new at this. They don’t care that you’re learning. They just care about their cut. And if you can’t prove what that cut should be… well, they’ll decide for you.

And trust me, their math always ends up bigger than yours.

The Silent Business Killer
Did you know that 49 million Americans have tax problems? That’s 1 in 7 people. But here’s the kicker – most new business owners don’t even know they’re in trouble until it’s too late.

Warning Signs You’re Heading for a Tax Disaster:
• You’re not sure what your profit margins are
• Your personal and business expenses are mixed
• You’re keeping receipts… somewhere
• QuickBooks is still in your “to-do” pile
• You’re waiting until tax season to figure it all out

I had to turn that couple away last week. Not because I didn’t want to help, but because they needed prevention, not cure. They needed a bookkeeper before they needed a tax pro.

But for every business owner I turn away, there are dozens more who’ve already crossed the line from “future problem” to “current crisis.”

Real Stories, Real Numbers:
• Food truck owner hit with $43,000 bill for unreported cash sales
• Online seller facing $27,000 in penalties for mixed personal/business expenses
• Consultant owing $89,000 for misclassified contractors

The Good News
Every tax problem has a solution. But here’s what most professionals won’t tell you: The best solution is prevention.

That’s why I wrote “Crush IRS Anxiety” – a step-by-step guide for business owners who want to:
• Prevent tax problems before they start
• Fix existing issues before they explode
• Understand what the IRS is really looking for
• Sleep better at night knowing their business is protected

Inside, you’ll find:
• The first 3 things every new business owner must do
• How to set up foolproof bookkeeping
• Warning signs of upcoming tax problems
• What to do if you’re already in trouble
• How to negotiate with the IRS

Why am I giving this away free?
Because between my son’s teething episodes and 15 years in tax practice, I’ve learned something: It’s better to help someone avoid a cliff than to rescue them after they’ve fallen.

Get Your Free Copy
Visit crushirsanxiety.com to download your free copy. No strings, no upsells, just information that could save your business.

Remember that couple I mentioned? They’re doing great now. They found a fantastic bookkeeper (not me – I’m a fixer, not a preventer), and they’re on track for a stress-free tax season.

You can be too.

Download the book at crushirsanxiety.com. Because the only thing worse than that deer-in-headlights look is the one that comes with an IRS letter.

Andrew “The Curer” Samaniego, EA, CTRC

Andrew Samaniego Tax Planning & Resolution

(619) 268-1084  |  AndrewSamaniego.com

P.S. If you’re reading this and thinking, “Oh shoot, that’s me,” don’t panic. Download the book. The solution is probably simpler than you think.

Last week, while my 9-month-old Kainalu was “helping” me sort tax documents, I remembered something crucial that most business owners overlook. It wasn’t the stack of receipts on my desk or the 1099s in my inbox – it was sitting right in my pocket.

But first, let me tell you about Sarah, a real estate agent who came to me last tax season.

“I probably drove 20,000 business miles last year,” she said, “but I only tracked maybe 2,000 of them.”

That hurt. At the 2024 standard mileage rate of 67 cents per mile, those untracked miles cost her over $12,000 in deductions.

That’s when I showed her what I’m about to show you.

The $7,432 Solution
There’s an app called MileIQ (and no, I’m not sponsored by them) that’s basically Tinder for your car rides. Here’s how it works:

• It automatically tracks every drive
• You swipe right for business, left for personal
• It calculates your tax deduction instantly

Simple, right?

The Real Numbers
Let’s break this down:

• Average business owner drives 15,000 business miles annually
• At 67 cents per mile = $10,050 deduction
• In the 24% tax bracket? That’s $2,412 saved
• Plus self-employment tax savings of about $1,537
• Total tax savings: $3,949

But Wait, What About Actual Expenses?
Yes, you can deduct actual car expenses instead of mileage. But here’s what 15 years as an Enrolled Agent has taught me: for most business owners, mileage wins. (Except for you, Truck owners – we need to talk!)

Why Most Business Owners Leave Money on the Table

• “I’ll remember to log my miles later” (No, you won’t)
• “I’ll just estimate” (The IRS loves this… not)
• “I’ll keep a paper log” (Until you forget it exists)

The Simple Solution

1. Download MileIQ
2. Let it run in the background
3. Swipe rides during your coffee break
4. Watch your tax savings grow

But Here’s the Thing…
The app is just one piece of the puzzle. To maximize your tax savings, you need a comprehensive tax strategy that looks at every aspect of your business.

Want to know how much you could be saving?

Email me at info@andrewsamaniego.com for:

• A free tax savings estimate
• Current tax preparation pricing
• My “Top 10 Overlooked Business Deductions” guide

Don’t let another year of deductions drive away. Your future self (and your bank account) will thank you.

Andrew “Driver Saver” Samaniego, EA, CTRC

Andrew Samaniego Tax Planning & Resolution

(619) 268-1084  |  AndrewSamaniego.com

P.S. Tax season starts in two weeks. The earlier you get your strategy in place, the more you’ll save.

There I was, sitting in the pediatrician’s office for my son Kainalu’s 9-month checkup, watching him charm everyone while secretly counting the number of coughs in the waiting room. You know the drill – you arrive, wait, get called in, and the doctor asks, “Any concerns?”

I looked down at Kainalu, jokingly waiting for him to pipe up with his medical history (spoiler: he just gave his signature gummy smile). The doctor took some measurements, and just like that, we were done. Kainalu’s in the 92nd percentile for height, probably all those Hawaii genes!

But this routine appointment got me thinking about how most people handle their taxes. They show up once a year, hand over some forms, answer “nope, nothing new,” and walk away thinking everything’s fine.

Here’s the scary part: You might be accidentally lying to the IRS.

“Wait, what? How?”

Let me ask you this:

• Did you receive money through Venmo last year?
• Receive payment via PayPal for that side gig?
• Sell something on Facebook Marketplace?
• Get paid through Zelle for splitting bills?

Here’s what most people don’t know: Starting in 2024, payment apps are required to report transactions totaling over $5,000 to the IRS. That means there’s a form out there with your name on it that you might not even know exists.

Real Story Time:
Last week, a client came to me panicking. She’d filed her 2023 taxes through TurboTax, thinking everything was fine. Then she got a letter from the IRS about unreported income. Turns out, her occasional dog-sitting gig through Rover generated a 1099-NEC she never received. The form went to an old email address.

The IRS knew about the income before she did.

This is where transcript monitoring comes in.

Think of it like having a security camera for your tax life. Instead of waiting for surprise letters from the IRS, we can see exactly what they see about your financial life – before you file.

What We Monitor:

• Income reported by employers
• Payment app transactions
• Investment account activity
• Retirement account distributions
• And dozens more data points

Most tax monitoring services charge $295/month for this peace of mind. But in honor of Kainalu’s impressive 92nd percentile height milestone (yes, I’m that proud dad), I’m offering my network access for just $92/month.

What You Get:

• Monthly transcript reviews
• Early warning of unreported income
• Documentation of all IRS records
• Peace of mind before filing
• Direct access to me for questions

Think of it like those regular doctor checkups – it’s better to catch things early than deal with problems later.

Ready to stop worrying about surprise tax forms?
Email info@andrewsamaniego.com with:

• Your name
• Best contact number
• Whether you’ve received IRS notices before

I’ll send you:

• Service details
• Signup instructions
• Sample monitoring report

Don’t wait for the IRS to find something you missed. Let’s catch it first.

P.S. Unlike my son’s doctor appointments, you won’t have to sit in any waiting rooms for this service. Everything’s handled digitally!

P.P.S. Know someone who uses payment apps for their side hustle? Share this with them – they’ll thank you later.