Best CPA

If you’re a high-earning professional, taxes aren’t just a once-a-year headache—they’re a game you need to win. You work too hard to let the IRS take more than they should. Yet, so many professionals unknowingly leave money on the table, thinking they’re “doing it right” until a surprise tax bill (or worse, an audit) says otherwise.

Here’s the thing: smart tax planning isn’t just about filing on time. It’s about playing offense, making sure your money works for you, and leveraging every legal tax-saving strategy possible. That’s where a CPA in Austin, Texas comes in.

Let’s break down five costly tax mistakes and how to fix them before they eat into your bottom line.

1. You’re Not Structuring Your Real Estate Investments Right

• Why It’s a Problem: Owning rental properties? Awesome. Holding them in your personal name? Not so awesome. Doing this can expose you to higher taxes, liability risks, and missed deductions.
• How to Fix It: A small business CPA Austin can help you structure your properties under the right entity (LLC, S-Corp, or trust) to protect your assets and maximize tax savings.

2. You’re Relying Too Much on Basic Passive Income Deductions

• Why It’s a Problem: Yes, passive income is great (rental properties, dividends, etc.), but if you’re just taking standard deductions, you’re barely scratching the surface of what you could be saving.
• How to Fix It: A tax advisor in Austin can help you leverage advanced strategies like real estate depreciation, cost segregation, and tax-deferred investments to seriously cut your tax bill.

3. You’re Missing Out on High-Level Tax Mitigation Strategies

• Why It’s a Problem: If maxing out your 401(k) is the only strategy you’re using, you’re missing out on huge tax-saving opportunities.
• How to Fix It: A CPA firms Austin, Texas expert can help you explore tax-savvy strategies like 1031 exchanges, donor-advised funds, defined benefit plans, and tax-loss harvesting so you’re not just saving, but strategically keeping more of your money.

4. You’re Investing Without Thinking About Taxes First

• Why It’s a Problem: Short-term gains? High-yield accounts? Great—until tax season hits and you realize how much you’re handing over to the IRS. Not all investments are created equal in the eyes of tax law.
• How to Fix It: A CPA in Austin, Texas can help you restructure your portfolio with tax-efficient investments, like municipal bonds, Roth accounts, and tax-deferred real estate strategies. Less tax = more wealth-building.

5. You’re Not Working with a CPA Who Understands Multi-State Taxes

• Why It’s a Problem: If you’re earning across multiple states (through remote work, real estate, or investments), each state has its own tax rules. File incorrectly, and you could be overpaying or setting yourself up for an audit.
• How to Fix It: An experienced Austin tax accountant will make sure you only pay what’s required—no more, no less—keeping your tax bill legally as low as possible.

Stop Giving the IRS More Than They Deserve: Let’s Build Your Tax Strategy

You work hard for your money, so why let outdated tax strategies chip away at it? At Insogna CPA, we help high-earning professionals optimize tax strategies, minimize liabilities, and keep more of what they earn.

Whether you need expert Austin accounting services, guidance from an Austin small business accountant, or a CPA in Austin Texas who actually understands high-net-worth tax strategies, we’ve got your back...

📞 Let’s talk. Book a tax strategy consultation today and start keeping more of your hard-earned money!

Let’s be honest: taxes probably weren’t the reason you started your business. But ignoring them? That’s a surefire way to drain your bank account, stress you out, and possibly get a not-so-friendly letter from the IRS.

The good news? Avoiding tax mistakes doesn’t require a finance degree or a crash course in IRS regulations. You just need a solid plan and maybe a CPA in Austin, Texas who actually gets small businesses (hint: that’s us).

Here are the top five tax mistakes small business owners make and how to avoid them like a boss.

1. Mixing Business & Personal Expenses (A.K.A. “The Audit Magnet”)

• Why It’s a Problem: Using your personal bank account for business transactions makes bookkeeping a nightmare, muddles deductions, and waves a giant red flag for the IRS.
• How to Avoid It: Open a separate business bank account and credit card—trust us, future you will thank you. A small business CPA Austin can help you clean up any financial mess and set up a proper system.

2. Forgetting to Track Startup Costs (AKA: Leaving Free Money on the Table)

• Why It’s a Problem: Every dollar you spend before launching—think branding, website development, equipment—could be a tax deduction. But if you don’t track it? You’re just giving the IRS extra cash.
• How to Avoid It: Keep detailed records from day one. An Austin tax accountant will ensure you claim every startup expense possible, lowering your tax bill.

3. Filing the Wrong Tax Forms (Oops, That’s Not the Right One)

• Why It’s a Problem: Sole proprietors, LLCs, and S-Corps all have different filing requirements. Using the wrong forms—like mixing up a Schedule C with Form 1065—could mean penalties or missing out on major tax benefits.
• How to Avoid It: A tax advisor in Austin will make sure you’re using the right tax structure for your business and filing everything correctly.

4. Skipping Quarterly Estimated Tax Payments (And Paying for It Later)

• Why It’s a Problem: Unlike a 9-to-5 job, there’s no employer withholding your taxes. If you’re not making estimated payments, you’ll owe a lump sum at year-end plus penalties.
• How to Avoid It: A CPA in Austin, Texas can calculate your estimated taxes and set up a schedule so you’re not hit with a surprise bill.

5. Overpaying (or Underpaying) Self-Employment Taxes (Because Guesswork Isn’t a Strategy)

• Why It’s a Problem: Many business owners either overpay (ouch) or underpay (hello, IRS penalties). Getting it wrong means either giving up cash unnecessarily or owing more than you expected.
• How to Avoid It: A CPA firms Austin Texas expert will fine-tune your tax strategy so you’re paying exactly what you should—no more, no less.

Let’s Keep More of Your Hard-Earned Money Where It Belongs—With YOU

Why stress over taxes when you can have a CPA who handles them for you? At Insogna CPA, we make sure small business owners like you avoid costly mistakes, maximize deductions, and stay stress-free come tax season.

Whether you need expert Austin accounting services, a proactive Austin small business accountant, or a tax-saving strategy from one of the top CPA firms in Austin Texas, we’ve got your back..

Book a free consultation today—let’s make tax season a breeze!

Summary of What This Blog Covers:

• Startups Need More Than Basic Tax Filing
  This blog highlights how a proactive CPA firm helps startups avoid costly compliance mistakes, including missed IRS deadlines, misfiled forms like 1099 NEC, and incorrect entity structures that can trigger unnecessary self-employment tax. It emphasizes the importance of year-round tax planning and how early-stage businesses benefit from CPA-led oversight.
• Maximize Tax Savings with Expert Deductions and Credits
  The article explains how most startups overpay on taxes due to a lack of planning. It showcases how a proactive CPA identifies and applies relevant tax deductions like the R&D tax credit, home office deductions, and Qualified Business Income (QBI), ultimately reducing tax liability and preserving capital for growth.
• Real-Time Financial Visibility Drives Smarter Decision-Making
  The blog outlines how using cloud-based tools like QuickBooks Online Accountant and clean bookkeeping practices gives founders a clear view of their cash flow and runway. With up-to-date data and tailored reporting, startups can make confident decisions that support investor trust and long-term success.
• Partnering with a CPA Frees Up Time and Reduces Risk
  It concludes by showing how delegating tax compliance, W9 and 1099 tracking, FBAR filing, franchise tax obligations, and audit prep to a proactive CPA firm allows founders to focus on scaling their business, not scrambling during tax season. With flat-rate pricing and startup-focused expertise, Insogna CPA becomes a strategic partner in growth.

Building a startup is exhilarating. You’ve got the idea, the drive, maybe some funding, and you’re moving fast. But then there it is, the realization that someone has to handle the books, prepare the taxes, stay compliant with state and federal regulations, and give investors clean, confident numbers.

Here’s the hard truth: financial clarity and tax compliance aren’t optional. They’re foundational. And if you’re flying blind or using DIY tools to handle it all, tax season can go from inconvenient to catastrophic.

That’s where a proactive CPA firm steps in.

At Insogna CPA, we specialize in working with startups across Austin and beyond. Whether you’re bootstrapping, raising your first round, or scaling to your Series B, we help you build a tax and financial strategy that fuels growth, not stress.

Let’s walk through the top reasons every founder should have a proactive CPA on speed dial before tax season hits.

1. Avoid Costly Compliance Mistakes Before They Derail You

In the startup world, you’re managing burn rate, product development, marketing, and hiring. Tax forms and filing deadlines aren’t usually top of mind. But missing IRS deadlines, filing incorrect forms, or misclassifying employees can cost you more than just money. It can shake investor confidence and delay your momentum.

Common mistakes we see:

• Missing quarterly estimated payments (triggering penalties)
• Failing to issue 1099 NEC forms to contractors
• Choosing the wrong entity type and overpaying self employment tax

• Not filing Form 1120 or Form 1065 on time
• Skipping franchise tax filings with the Texas Comptroller

As your small business CPA Austin, we take ownership of your compliance calendar, ensure every box is checked, and help avoid surprises. And yes, if you’re dealing with offshore investors or international transactions, we also manage your FBAR filing (Report of Foreign Bank and Financial Accounts) to stay compliant with federal disclosure rules.

2. Save Capital by Paying Less in Taxes

Early-stage startups need every dollar working for them. Paying more than your fair share in taxes is like handing cash to the IRS that could have been used for marketing, hiring, or product development.

Most startup founders don’t realize how many legitimate ways there are to reduce their tax burden until they work with a licensed CPA who knows where to look.

Examples of missed opportunities:

• Not claiming the R&D tax credit for software development or product innovation
• Ignoring QBI deductions (Qualified Business Income) for pass-through entities
• Not using the home office deduction for remote founders
• Missing depreciation schedules for office equipment or SaaS infrastructure

At Insogna CPA, we dig deep into your operations to identify every available deduction and tax credit. We help you use the self employment tax calculator, optimize your payroll structure, and ensure your documentation is bulletproof.

Our clients also benefit from proactive planning around 1031 exchanges, multi-entity reporting, and S-corp elections using Form 2553 to reduce overall tax liability.

3. Get Real-Time Financial Data That Actually Supports Growth

If you’re making decisions based on your bank balance alone, you’re flying blind. Startups grow fast, pivot often, and spend unpredictably. Without real-time data, it’s impossible to know your burn rate, cash flow runway, or how changes in spending affect profitability.

The danger of not having insight:

• Overspending on ads without knowing CAC vs. LTV
• Hiring too fast without budget forecasts
• Underestimating runway and failing to raise in time

As one of the leading Austin accounting firms, we bring financial clarity through software integration and smart processes. We implement tools like QuickBooks Online Accountant, WaveApp, and ZohoBooks, and we maintain clean, categorized data across your account payable, account receivable, and operating expenses.

You’ll have access to dashboards, KPIs, and reports that make sense, not just numbers that sit in spreadsheets.

If you’re preparing for due diligence, investor pitches, or board meetings, we’ve got your financial story ready and packaged.

4. Scale Confidently Without Creating a Cash Flow Crisis

Growth is the goal but growth without financial structure is risky. Many startups hit scaling challenges because they’re not ready for the financial implications of new hires, increased fulfillment costs, or global expansion.

Common growing pains we solve:

• Launching a hiring spree without a compensation strategy
• Expanding into new markets without local tax compliance
• Failing to project cash reserves for manufacturing or marketing scale-ups
• Missing deadlines for quarterly taxes, creating unexpected liabilities

We help you forecast with confidence, plan for expansion, and maintain financial controls even as complexity increases. Whether you’re dealing with new vendors, opening a second office, or preparing for a venture capital audit, your Austin, TX accountant should be thinking ahead for you.

We also work with founders to plan and execute entity structure adjustments, helping you navigate whether to stay a sole proprietor, transition to an LLC, or move toward an S-corp for long-term tax savings.

5. Free Up Your Time to Focus on What You Do Best

As a founder, your time is your most valuable resource. And if you’re spending it reconciling transactions, Googling “what is a W9?”, or downloading yet another tax calculator, you’re losing precious hours that could be invested in your product or team.

A good CPA firm in Austin, Texas doesn’t just save you time. They protect your energy, creativity, and focus. We take care of:

• Tax preparation services
• Contractor documentation and W9 form tracking
• Quarterly estimated payments (Form 1040-ES)
• Annual tax filings and audit preparation
• FBAR compliance, if you’re working internationally
• Franchise tax filings and Texas-specific compliance

Instead of stressing during tax season or scrambling for reports before investor calls, you’ll have a trusted team ready with answers, strategies, and support.

What You Get With Insogna CPA

We’re not your once-a-year “tax guy.” We’re your full-stack financial partner, serving as an embedded member of your founding team.

Here’s what you can expect:

• Flat-rate pricing with no hidden surprises
• Year-round strategic support from certified public accountants, chartered professional accountants, and enrolled agents

• Deep startup expertise in SaaS, DTC, consulting, and creative industries
• Fully integrated accounting software support
• Smart systems for handling 1099 tax forms, W9s, Form 1120, and multi-entity filings

• Compliance coverage, including federal tax law, Texas franchise tax, and FBAR filing

Whether you’re looking for a tax accountant near you, a reliable CPA office near you, or a top-rated Austin small business accountant, we’re ready to help you move forward with clarity.

Let’s Build Your Financial Game Plan Before Tax Season Wrecks You

Tax season isn’t just about avoiding penalties. It’s a strategic moment to clean house, review your trajectory, and prepare your business for the next phase of growth.

At Insogna CPA, we make that process proactive, empowering, and efficient. Whether you’re setting up your first LLC or preparing for a major investment round, your finances should support your momentum, not slow it down.

Contact us today to schedule your consultation. Let’s build a financial system that works as hard as you do and finally take tax season off your list of worries.

Because smart founders don’t just file taxes. They plan with purpose. Let’s grow together.

Summary of What This Blog Covers:

• Understand What Makes Short-Term Rental Taxes Unique
  This blog explains why short-term rental properties come with tax complexities that differ from traditional real estate or standard business income. From occupancy taxes and franchise tax filings to income classification and estimated payments, first-time rental owners need expert guidance to avoid costly errors and stay compliant at every level—local, state, and federal.
• Discover How a CPA Maximizes Deductions and Reduces Liability
  The article highlights how a qualified CPA helps rental owners track eligible business deductions using tools like QuickBooks Self Employed and ensures accurate filing of W9, 1099 NEC, and 1099K forms. It also explains how depreciation, property management expenses, and service-related costs can significantly reduce taxable income when properly categorized.
• Learn Why Classification and Quarterly Payments Matter
  The blog breaks down how misclassifying rental income whether as passive, active, or S-Corp, can lead to underpayment or trigger self-employment tax obligations. It emphasizes the importance of accurate income reporting, quarterly tax estimates, and proactive planning using tools like the self-employment tax calculator to prevent IRS penalties.
• Get the Support You Need from a Strategic Tax Partner
  With real-life client success stories and advisory insights, the blog shows why working with a CPA is more than just tax prep. It’s about building a scalable, stress-free rental business. From FBAR filing to 1031 exchange planning, readers are shown how Insogna CPA provides full-service tax support tailored to first-time rental owners.

So you’ve done it. You invested in your first short-term rental property. Maybe it’s a cozy bungalow in South Austin, a modern loft in East Side, or a lakefront cottage just outside the city. You’ve listed it, guests are booking, and you’re building some great reviews. But now the financial side is starting to pile up. You’re receiving income, paying cleaners, tracking expenses, and suddenly you’re wondering: “Am I supposed to file quarterly taxes? Is this rental income considered passive? Should I have issued a W9?”

This is exactly where a certified public accountant comes in.

At Insogna CPA, we help first-time short-term rental owners avoid financial missteps, understand their tax obligations, and run their rental like a business, not a guessing game. Whether you’re generating a little side income or planning to build a short-term rental portfolio, working with a knowledgeable CPA in Austin, Texas can save you time, money, and long-term stress.

Let’s break down exactly why a CPA is your most important financial partner as a new short-term rental owner and why you don’t want to go it alone.

1. You Need to Maximize Deductions and Do It Correctly

One of the biggest tax advantages of owning a short-term rental is the wide range of deductible business expenses. These include:

• Mortgage interest
• Property taxes
• Utilities
• Internet and cable
• Repairs and maintenance
• Supplies like linens, toiletries, and coffee
• Insurance premiums
• Legal and professional fees
• Property management costs
• Advertising and marketing expenses
• Depreciation on furniture and the building itself

But here’s the problem: Many first-time rental owners either underclaim (leaving money on the table) or overclaim (risking an audit). Knowing exactly what’s deductible and how to document it is where a certified CPA near you can make a big impact.

At Insogna CPA, we help our clients use QuickBooks Self Employed, Zohobooks, or WaveApp to categorize and track these deductions properly. We also provide customized checklists for keeping receipts, managing your w9 tax forms, and ensuring your 1099 NEC forms are accurately filed if you hire contractors or cleaners.

2. You Need to Stay Compliant with a Complex Web of Tax Rules

Short-term rentals are unique. Unlike long-term leases, they often fall under hospitality and business tax rules at the city, state, and federal levels. That means you may owe:

• Hotel occupancy taxes to the city or county
• Sales taxes on nightly rates
• State franchise tax filings in Texas
• Quarterly federal estimated tax payments

• Filing of Form 1040-ES, 1099 tax forms, or 1099K depending on how you receive payments

This complexity increases if you manage more than one property, use different booking platforms (like Airbnb and Vrbo), or operate across multiple jurisdictions.

Working with an experienced Austin tax accountant ensures that every reporting obligation is identified and handled properly. We help clients stay ahead of IRS filing requirements, meet city compliance guidelines, and avoid penalties that could interrupt their rental operations.

And if your property income includes international transactions or offshore bank accounts, we’ll handle your FBAR filing (Report of Foreign Bank and Financial Accounts) requirements too.

3. Your Rental Income May Not Be “Just Rental Income”

This one trips up almost every first-time owner. The IRS doesn’t treat all rental income the same. In fact, short-term rental income can fall into several categories, depending on how the property is used and how often it’s rented:

• Schedule E: Passive rental income (generally if you rent the property without providing significant services)
• Schedule C: Business income (if you offer services like daily cleaning, meals, concierge service, or rent the property for short durations)
• S-Corp income (if you elect to treat your property as part of an S Corporation using Form 2553)

Misclassifying your income not only increases your audit risk but may also lead to self-employment tax liability that you didn’t plan for.

At Insogna CPA, we walk our clients through IRS classification rules, review your rental calendar and services, and ensure your income is properly reported. We’ll also evaluate whether you’re a candidate for S-Corp conversion, which can reduce your self-employment tax burden in high-income years.

4. You Need to Make Quarterly Estimated Tax Payments (or Risk Penalties)

Here’s something most new rental owners learn the hard way: If you’re receiving income from Airbnb, Vrbo, or direct bookings, those platforms don’t typically withhold taxes for you. That means you’re responsible for paying your own taxes four times a year.

If you skip quarterly payments or underpay, the IRS can hit you with underpayment penalties and interest even if you pay your full bill in April.

We help our clients calculate their quarterly estimates using tools like the self employment tax calculator and make timely payments that prevent unnecessary fees. Whether you’re earning $5,000 or $50,000 in rental income, a tax preparer near you who handles quarterly filing and planning is essential.

5. You Want to Save Time, Sleep, and Sanity

Running a short-term rental is already a lot of work with bookings, maintenance, messaging guests, coordinating cleanings. Add tax compliance on top, and it’s easy to get overwhelmed.

We often hear from clients who tried using a generic “tax services” chain or DIY tools like TurboTax Free or Tax Act only to realize those options didn’t account for their rental-specific needs.

With Insogna CPA, you’re getting more than tax preparation services. You’re gaining a strategic partner. We integrate your bookkeeping tools, reconcile your income from platforms like Airbnb and Vrbo, issue 1099 NEC forms when needed, and keep you compliant with Austin franchise tax and IRS regulations.

We also provide advisory services around 1031 exchanges for clients who plan to reinvest their profits into other properties and want to defer capital gains tax legally.

Why Choose Insogna CPA for Your Short-Term Rental Tax Planning

We’re not just another Austin CPA firm that files returns once a year and disappears. We offer:

• Flat-rate pricing which mean no surprise hourly bills
• Ongoing support with dedicated CPAs and enrolled agents

• Strategic planning tailored to short-term rental owners
• Integration with your accounting tools and platforms
• Full tax lifecycle services, including tax preparation services, franchise tax compliance, FBAR, 1099 tracking, and more

Our clients include first-time rental owners, small business operators, and growing real estate investors who rely on us for clarity and confidence when it comes to taxes.

Let’s Build a Smart, Scalable Plan for Your Short-Term Rental

Whether you’re a first-time host or on your way to becoming a full-time investor, working with a certified CPA near you ensures you have the financial clarity to grow, comply, and save.

Instead of scrambling during tax season, schedule a consultation with Insogna CPA. We’ll build a strategy that keeps your books clean, your forms accurate, and your financial goals on track.

Contact us today, and let’s simplify your short-term rental taxes so you can get back to hosting, building your business, and enjoying the income you worked hard to earn.

Because first-time rental owners deserve more than guesswork. They deserve expert support from a team that knows the tax code, understands the industry, and speaks your language. Let’s get started. Together.

Hey there, small business owner! If you’re like most of the entrepreneurs we work with, navigating taxes probably doesn’t top your list of favorite things to do. But getting ahead of tax planning? That can save you time, money, and a lot of headaches. At Insogna CPA, we’ve helped countless business owners in Austin (and beyond) avoid costly mistakes and keep more of what they earn. Let’s walk through the most common tax planning pitfalls and how you can dodge them.

1. You’re Forgetting Quarterly Tax Payments

If you’ve ever been hit with a penalty for missing an estimated tax payment, you’re not alone. Many business owners don’t realize they need to pay taxes quarterly—and the IRS doesn’t exactly send friendly reminders.

How to Fix It: The key is planning ahead. A reliable Austin, Texas CPA can help you calculate what you owe, set up a payment schedule, and avoid surprises. You deserve to keep your hard-earned money, not hand it over to penalties and interest.

2. You’re Missing Out on Tax-Saving Elections

Ever heard of the S-Corp election or the Qualified Business Income (QBI) deduction? If not, you could be leaving money on the table. These tax-saving opportunities aren’t automatic—you have to know about them and actively elect to use them.

How to Fix It: Sit down with a trusted CPA in Austin, Texas who knows the ins and outs of these strategies. We’ll help you figure out what works best for your unique business structure, so you’re never missing a chance to save.

3. Your Bookkeeping Practices Are Stuck in the Past

Are you still manually tracking your expenses or relying on outdated software? If so, you’re making things way harder than they need to be—and potentially missing out on valuable deductions.

How to Fix It: Upgrade to cloud-based bookkeeping and consider teaming up with an Austin accounting service. A good accountant can clean up your books, catch errors, and set you up for success when tax season rolls around.

4. You’re Mixing Personal and Business Finances

If you’ve ever paid for something personal with your business card—or vice versa—you’re not alone. But combining personal and business expenses can lead to messy books, missed deductions, and unnecessary scrutiny from the IRS.

How to Fix It: Keep things simple. Open dedicated business accounts and credit cards. Need help setting it up? An Austin, TX accountant can guide you through it and even help clean up past mistakes.

5. You’re Missing Tax Deadlines

Missed deadlines are more than just a headache—they can be expensive. Whether it’s filing your annual return or paying quarterly taxes, late filings mean penalties, interest, and a lot of stress.

How to Fix It: Make tax deadlines a no-brainer. Partner with one of the top CPA firms in Austin, Texas, like Insogna CPA, to track important dates and file everything on time. With our team by your side, you’ll never have to worry about missing a deadline again.

6. You’re Overlooking R&D Tax Credits

Think R&D tax credits are only for big companies? Think again. If you’re investing in innovation—whether it’s developing a new product, improving a process, or experimenting with new technologies—you might qualify for this credit.

How to Fix It: Don’t guess. Work with an experienced Austin tax accountant who knows how to identify and claim these credits. It could mean significant savings for your business.

7. You’re Waiting Until the Last Minute for Tax Planning

Tax planning isn’t just something you do in April. If you wait until the end of the year, you’ve already missed out on most of the opportunities to lower your tax bill.

How to Fix It: Proactive, year-round planning is the game-changer. Working with an Austin small business accountant ensures that you’re staying ahead of tax-saving strategies, from maximizing deductions to planning for growth.

Let’s Make Tax Planning Easy

Taxes don’t have to be stressful or confusing—especially when you’ve got the right team in your corner. At Insogna CPA, we specialize in helping business owners just like you take control of their finances. Whether you’re looking for a reliable Austin accounting service or expert guidance from one of the top Austin CPA firms, we’re here to help you save time, money, and hassle.

Ready to get started? Reach out today to schedule a consultation with an experienced CPA in Austin, Texas, and see how we can transform your tax planning experience. Let’s work together to make sure your business thrives!