Posts by Madison Randolph

Kondomania: Sparking Joy

(Header image courtesy of Bustle.com) America’s economy has morphed throughout our history, starting from agricultural to manufacturing to service to technology. Now it seems we’re moving towards a celebrity-based economy. The world is full of D-list celebrities competing for attention: third-rate rappers hoping to break through their own noise, random Kardashian cousins, and spurned bachelorettes…

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Qualified Business Income

The U.S. tax code has always acknowledged the existence of different sorts of income. Each of those different incomes is treated differently, with unique requirements and tax cuts. One of those incomes is named, “Qualified Business Income”, and it comes with its own standards for deduction rates that differ from other sorts of income. Today,…

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What is Tax Planning?

If you receive any kind of taxable income, you may find yourself missing out on certain tax breaks that you could be entitled to. This is normal – if you haven’t devoted yourself to learning tax law, it’s easy to get confused with all the regulations and maneuvers involved in figuring out how much your…

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What is Audit Protection?

Everyone knows that there is one word, in particular, they never want to read in a letter from the IRS: Audit. This tiny-yet-frightening word means that something was wrong with your taxes. Not only that, but it was so wrong that the IRS insists on digging through your finances to discover exactly where the problem…

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How Medical Expense Reimbursement Plans Help Your Business

One of the most frequently cited benefits for employment is health care.  Small businesses especially suffer from the high costs of offering insurance benefits, and in the end, may even lose valuable employees due to the inability to offer better insurance than what they can afford. Using a Medical Expense Reimbursement Plan, or MERP allows…

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The Augusta Rule

In some cases, helping your business save money is as easy as using your own home. Utilizing something called, “The Augusta Rule”, you can legally rent your own home out for certain work-related practices.  It only applies if your home is not your primary place of business, but it’s an interesting tax break that could…

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Hire Your Kids

The Benefits of Hiring Your Child Did you know that you can include your underage children in your business and receive a tax break for it?   Hiring your children allows them to work for you while making wages for themselves. Now, this isn’t your typical “allowance” situation, where your children mow the yard or wash…

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Welcome

Welcome to Madison Randolph’s Blog! My work as a CPA means that I don’t write a lot.  Most of my advice is given to my customers during phone calls, meetings, and the occasional e-mail. I want to share my knowledge with more people, and show them how they can save money and help themselves when it…

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