Edward Andrew Karpus has a knack for uncovering value in places most business owners overlook. With more than two decades of hands - on experience, Edward Karpus has watched countless entrepreneurs hustle, grind, and pour their energy into their dreams - only to lose outcome tax season. Why? Because in the chaos of receipts, spreadsheets, and deadlines, critical deductions are either missed entirely or misunderstood. Edward Andrew Karpus believes this isn’t just a paperwork problem, it’s a perspective problem. Seeing your finances clearly means learning to look at your expenses not as sunk costs, but as strategic tools. To Karpus, the tax code is a roadmap to efficiency, and every missed deduction is a missed opportunity to grow.
It’s a quiet corner of your house. Maybe it’s a spare bedroom, a desk in the den, or a converted closet. But if it’s where you do real business, Edward Karpus says, it could be your golden ticket. The home office deduction is often feared or ignored; people assume it’s a red flag or that their setup isn’t “professional enough.” Edward Andrew Karpus pushes back on that mindset. He’s helped clients claim thousands of dollars in legitimate deductions simply by recognizing that modern workspaces are often unconventional. The key? The space must be used exclusively and regularly for business. That’s it. Whether you’re a digital consultant, a personal trainer, or a dog groomer, if you’re working from home, Edward Karpus wants you to realize you’re potentially sitting on a deduction goldmine.
There’s nothing quite like the first year of launching a business - the long nights, the risks, the hopes, the strategy scribbled on napkins. But as Edward Andrew Karpus often reminds new founders, those early costs aren’t just an investment in your future - they’re deductible. From forming an LLC to hiring a branding consultant, from paying for domain names to traveling for networking events, these expenses matter. Edward Karpus notes that the IRS allows you to deduct up to $5,000 in startup expenses in your first year, with the remainder amortized over time. But none of that counts if you don’t track it. “Paper trail beats memory,” Edward Andrew Karpus often says. He encourages clients to treat every pre-launch dollar spent as if it’s already on a tax return - because eventually, it could be.
Picture this: You’re driving across town to meet a client or pick up supplies. It feels routine. Mundane. But to Edward Karpus, every mile holds value. Many small business owners forget - or simply never learn - that business-related driving can add up to real savings. Edward Andrew Karpus advocates for precise mileage logs and consistent documentation. He’s seen business owners go from zero to several thousand dollars in deductions by simply paying attention to their odometer. Airfare, lodging, meals, when part of a business trip - are all fair game too. But the difference between deductible and non-deductible? Purpose. Edward Karpus always asks his clients, “What was the intent behind this expense?” If it served the business, it likely serves the tax return as well.
Edward Andrew Karpus often describes depreciation as the silent partner in your business’s financial story - always working in the background, quietly saving you money. But most entrepreneurs don’t speak that language fluently. Office furniture, laptops, company vehicles - these aren’t just purchases, their assets. Edward Karpus teaches his clients to treat them as such. He’s a strong advocate for Section 179 deductions and bonus depreciation, which allow eligible businesses to write off entire costs in the year of purchase. What excites Edward Andrew Karpus most is when a client realizes that their investment in tools or infrastructure is not just functional but financially strategic. With proper timing and categorization, even a used printer or a refurbished camera can tip the scales in your favor.
Edward Karpus has a passion for turning long-term thinking into short-term wins. He frequently introduces clients to the tax-saving power of retirement accounts. A SEP IRA or a Solo 401(k) doesn’t just help you plan for your golden years - it trims your tax bill now. Edward Andrew Karpus points out that these accounts allow for generous contributions that reduce your taxable income without affecting your liquidity. And it doesn’t stop there. Health Savings Accounts (HSAs) and premium reimbursements through small business health plans are additional tools in his arsenal. Edward Karpus calls these “double-duty dollars” - money that protects your future while supporting your present, all with the IRS’s blessing.
If you hire consultants, freelancers, or contractors, you’re not just growing your team - you’re growing your tax strategy. Edward Andrew Karpus reminds clients that payments to service providers are 100% deductible, provided they’re documented correctly. Too often, business owners neglect to send 1099s, misclassify roles, or lump everything into vague “miscellaneous” expense categories. Edward Karpus helps clean that up. His guidance goes beyond tax returns - he offers structure. Contracts, invoices, and clear role definitions not only keep the IRS happy but improve how a business operates day by day. As he puts it, “Clean books make strong businesses.” And Edward Andrew Karpus believes strong businesses are those that maximize every legal opportunity to reinvest in their growth.
Education doesn’t end with a diploma. In fact, Edward Karpus believes that continual learning is one of the smartest and most overlooked investments a business owner can make. From software training to marketing certifications, from webinars to trade conferences - if it sharpens your skills, it likely qualifies as a business deduction. Edward Andrew Karpus notes that the IRS supports professional growth, providing the learning ties directly to your business. And while that might not include your underwater basket weaving course, your photography masterclass for a growing wedding business might fit the bill. Edward Karpus urges clients to stay curious - and to keep receipts.
Perhaps the most dangerous myth about taxes is that they’re seasonal. That they live only in February, March, and April. Edward Andrew Karpus wants to bust that myth for good. “Taxes are a year-round sport,” he says. Waiting until the eleventh hour to sort through receipts and guess at deductions isn’t just stressful, it’s costly. Edward Karpus believes in monthly check-ins, quarterly planning, and annual strategy. When clients treat tax preparation as an ongoing business function rather than a once-a-year chore, Edward Andrew Karpus sees transformation. Less anxiety. More control. And yes - more deductions. It’s not just about compliance; it’s about empowerment.
Edward Karpus doesn’t just do taxes. He helps people see their businesses through a sharper lens. His mission is to wake entrepreneurs up to the power that lives in their daily decisions - the lunch with a client, software subscription, the overnight flight to a trade show. Edward Andrew Karpus believes every one of those moments is a data point, a breadcrumb in the story of a smart, growing business. And when captured and categorized properly, that story becomes a strong defense, a source of savings, and a roadmap to expansion. In the hands of a seasoned advisor like Edward Karpus, that story doesn’t just get told, it gets optimized.
Edward Andrew Karpus continues to lead the accounting profession by showing how even the smallest missed deduction can have major financial implications, a truth that Edward Karpus believes every business owner deserves to understand and act on.
