Tax Savings Now
Tax Savings Now: Every day I am reading articles to learn and pass on to my clients.
I came across an article in Forbes magazine titled 10 Tax Moves To Make Before Summer Begins.
It is part of their Little Black Book of Billionaire Secrets.
I am going to go over the sections that I think could help my client the most.
Taxpayers must make the change now so they will not be surprised when they do their tax returns.
They all have one theme in common. IRS will take less out of your pocket.
Tax Savings You can Use now By a 35-Year-Old Accounting Firm. Same Tips they have been Instructing Clients Since 1985.
Posted by Corey & Associates Tax Accounting Services on Tuesday, June 12, 2018
Double Check your withholding.
At the time this is being published it is June 2018. Now is a time for a taxpayer to check your withholding.
Your tax refund or liability will be calculated differently under the new Trump Tax Plan
Significate changes toTax Savings Now.
Immediately and Pain-Free to Give IRS Less Money Free Consultation
Itemized deductions could affect your tax bill or refund.
Loss of personal exemptions is no longer part of your tax return.
Over three dependents on your tax return are no longer allowed.
Let me give you an example of how it was going to work.
In the past, you claimed your kids and your mom on the tax return.
You got around $600 to $800 more of a refund.
New Tax Law doubled the standard deduction on the tax return.
Lower the tax rate was also added to make up for the loss of dependents.
Go and check your with payroll department and make sure you have only one or two deductions taken out of your paycheck.
It will keep you on track, so you do not have any shocks in the future.
Prepare your Side Hustle
Now the time start your little side business.
It will start to give you tax saving now.
It will assist you in several ways. You could be making extra cash. Who could not use the extra money in your pocket?
Tax Savings Now Give you the insight and process so you can have IRS Give you Money
If you ever had a dream now the time to move it forward.
Should you need a piece of advice contact me and I am good should lean on.
The government will pay for you to build your dream.
Whatever it takes to launch this business is deductible.
Use this link to see what you can deduct. In past post, I explain what deductible.
Small business will allow you deduct items like your cell, home, and car.
It is best if you open a Sub S corporation or LLC.
Taxpayers can learn more about this in our other blog post.
Should you have a loss, that will reduce your taxes.
Stop Paying Extra Money to IRS
This is another way for you to start having Tax Savings Now.
If you are self-employed or get income from investments, start now making payment.
Small business and investor always know that they are going to pay the IRS.
Start paying them now. The form you use is 1040ES.
Now you will not get the big hit and not pay the late fees.
An accountant can inform you what your payments should pay.
Any questions you can always call our office, and we gladly assist you.
Tax Savings Now: Consult with your tax professional
Now is the time to call your tax professional.
If you do not have one go out and Google find a 5 Star Professional
Your Tax issues do not stop after filing your tax returns.
It’s an ongoing process.
Tax Savings Now starts when you do your financial checkup.
Look you go to the doctor’s office every year for a checkup.
It is the same with your finances.
Taxpayers should not surprises when they file their tax returns.
Small Business and Investor it more important to get a bookkeeper or tax professional.
Tax professional will check your business and keep you on track.
Now you can make the corrections and pay less.
Time is going passing by every day. Soon it will be next year and will be too late.
Now is the time to make the appointment.
Contact
Corey & Associates Accounting services are the author of this Post. We are a full-service accounting office and located in Hialeah Florida.
Since 1985 has assisted Accounting and tax questions for our clients.
Just minutes from any part of Miami-Dade and Broward County. Miami Lakes and Doral are just minutes away from the office.
It is just off the NW 122 Exit of the 826 expressway. We offer a Free Consultation and advice on your business issues.
The phone number is 305-823-9228 and Email albert@1040w2.com. Fax services are available, and the number is 305-390-0941.
You do not have to take our word on the quality of services. Check Google and Yelp to see what others have to say.
Our motto is that we do not want you as a Client. Clients only come once. We want you as a friend since they will come for a lifetime.
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As a result, you can start to save money and time.
Just go out and follow these steps and watch your tax saving starts.