AE Tax Advisors

I own a small chain of three hair salons. For six years, my old accountant did the bare minimum -- he filed accurate returns based on the numbers I gave him, and that was it. No entity planning, no equipment deductions, no home office for my administrative work, no retirement plan, nothing. He treated my business like a hobby that happened to make good money.

AE Tax Advisors reviewed three years of returns and the findings were painful. Section 179 deductions on salon equipment -- chairs, wash stations, dryers, color processors, reception furniture -- had never been claimed. Equipment was being depreciated over seven years when it could have been written off immediately. The QBI deduction, available since 2018, was never taken on any return. My home office, where I spend 15 or more hours a week doing scheduling, bookkeeping, payroll, and vendor management, was never deducted.

They amended all three years, capturing the missed Section 179 deductions, unclaimed QBI, home office, and several other expenses including continuing education, trade show travel, and professional subscriptions. Total recovery: $52,000.

Going forward, AE Tax restructured my business with an S-Corp election, set up a Solo 401k, and created a system for tracking deductible expenses throughout the year. My annual tax bill dropped immediately, and I have confidence that every legitimate deduction is being captured.

I had no idea how much money I was wasting by sticking with a basic tax preparer. AE Tax Advisors opened my eyes, recovered $52,000, and set me up for ongoing savings. Every small business owner needs to get a second opinion on their taxes -- the cost of a consultation is nothing compared to what you might recover.