Blog

In The Richest Man in Babylon, these principles outlined emphasize the importance of having trusted financial advisors to manage wealth.(A Trusted Advisor to handle your accounting and taxes). 1. Accountants Help You Follow the Law (The Fifth Law of Gold) 2. Expert Management of Financial Records (The Third Law of Gold)... Read more

Tax Savings Tips for Realtors (Part 1) Realtors often have unique financial situations due to the nature of their work, which can include fluctuating income, numerous business expenses, and self-employment taxes. Here are some tailored tax-saving tips for realtors to help them keep more of their hard-earned money: 1. Maximize... Read more

How to Achieve Your Retirement Goals Planning for retirement can seem daunting, but with the right budgeting strategy, you can ensure a comfortable and financially secure future. One effective method to consider is the 70-10-10-10 rule, popularized by personal development legend Jim Rohn. This rule offers a simple yet powerful... Read more

Why Work with a Strategic Tax Coach? Managing taxes can be a complex and overwhelming task, especially for small business owners, freelancers, and entrepreneurs. A strategic tax coach can make a significant difference in how you handle your tax planning and financial strategy. In this post, we’ll explore the benefits... Read more

Creating wealth is a goal many aspire to, but the strategies to achieve it often remain elusive. Whether you’re an entrepreneur, a freelancer, or an individual looking to secure your financial future, understanding the intricacies of tax planning and wealth management can be transformative. Let’s delve into the amazing secrets... Read more

When Should You Hire a CPA/CTP? If your business is already profitable, hiring a CPA/CTP is one of the best investments you can make. Tax laws are constantly changing, and staying up-to-date on new deductions, strategies, and filings can be overwhelming. Focusing too much on taxes can take you away... Read more

Why Accountants Are Your Most Trusted Advisors Accountants hold a unique position as trusted advisors, bridging the gap between financial expertise and personal trust. Here’s why they’re considered essential allies for both personal and business financial success. 1. Financial Expertise and Knowledge Accountants are experts in navigating complex financial landscapes.... Read more

If you’re self-employed or own your own business with or without employees, you might want to look into opening a Simplified Employee Pension Individual Retirement Account (SEP IRA) or a Savings Incentive Match Plan (SIMPLE). These tax-advantaged retirement plans can save you big! For starters, both allow you to contribute pre-tax dollars,... Read more

As part of our continued efforts to help realtors save on their taxes, we’ve compiled a list of some more commonly used deductions. (DFW Realtor Tax Advisors: Deductions For Realtors) Since realtors are self-employed sole proprietors, they are eligible for the same deductions as other self-employed business owners. Allowable tax... Read more

Tax Planning for Realtors: Texas Real Estate Lawsuit: Texas real estate associations and a group of home brokers face new claims that they artificially inflated sales commissions in the state. Moreover, this opens another front in litigation over real estate commissions after a $1.8 billion verdict against the residential brokerage... Read more

Are you ready to optimize your tax planning for 2023 and maximize your savings? In this comprehensive guide, we’ll unveil 10 savvy strategies endorsed by CPAs and accountants to help you save money when filing your taxes. From smart deductions to proactive planning, empower yourself with the knowledge to navigate... Read more

As the tax season draws near, we are scrambling to optimize financial strategies to minimize tax liabilities and maximize savings. In this blog post, we’ll explore some last-minute tax-saving tips tailored specifically for business owners. This will help you keep more of your hard-earned money in your pocket. (Maximize Your... Read more

For business owners, Tax Day isn’t just a deadline. Quite the opposite, it’s an opportunity to reflect on financial health and plan for the future. That said, now that Tax Day has passed, let’s shift gears and focus on saving money/maximizing profits for the rest of the year. (Saving on... Read more

Summer is often synonymous with vacations, relaxation, and enjoying the great outdoors. However, it’s also an excellent time to get a head start on your tax planning. By taking some proactive steps now, you can reduce your stress come tax season and potentially save money. Here are some key tax... Read more

If you want to save more money in this year, you’re definitely not alone. A Fidelity Investments study found that 44% of Americans want to boost their savings. (Dallas Tax Strategy: Prepare For Retirement in 2021) Increasing your retirement savings could be your ultimate money goal this year, as one survey found that 27%... Read more

The economic climate is still reeling from the COVID-19 pandemic. Some 12% of small business owners say financial stability is the most important challenge for them, beaten only by loss profits and attracting new customers. No surprise then that taxes—a bill that arrives at the end of each financial year—is the second-most important problem... Read more

During these times of economic uncertainty, two things remain certain: taxes and a need to save money. (Texas CPA All Stars: More Important Than Ever To Save On Taxes) Unemployment is taxable just like ordinary income. This means that those who receive unemployment benefits will have to pay taxes on... Read more

Many of us have more time than cash nowadays. If this includes you, then make the most of your free time by making smart financial moves. (DFW CPA Tax Pro: Painless Cash-Saving Tips) If you have time but no money, it’s time to become the best version of yourself. What... Read more

Many business owners struggle to know the difference between smart financial decisions and blanket cost-cutting. (DFW Save Taxes: Don’t Be a Cheap Business Owner) While cutting costs may be great, it can also be fatal if done without careful consideration of your outcomes. Companies do not grow by cutting costs;... Read more

If you already have some kind of emergency fund, have paid off high-interest debt, and are maxing out your tax-advantaged accounts, a congrats is in order! You’ve already developed good savings habits that lay the foundation for financial freedom. (Dallas Tax Reduction: Saving More Income) When you’re saving at least 20% of your... Read more

Having a good savings plan can keep you afloat even when times are changing. (DFW Tax Reduction Experts: Saving Money During Tough Times) Here are things to think about to simplify your spending: Create separate spending accounts for monthly costs If you look at your bank balance and see $1,000... Read more

Looking for tips on how to keep your business operations lean and save money while you continue to grow? (Flower Mound TX Tax Savings: Cut Business Costs) 1. Observe, Plan And Earn Before You Spend Understand, observe and become fully aware of your industry and the needs of your business.... Read more

Early November is a good time to make a checklist and see if you’re doing all you can to reduce your taxes. (Flower Mound Best Accountants: Your Tax Savings) 1. Dump losing investments Tax-loss harvesting is a strategy in which you rack up losses in a taxable brokerage account by... Read more

An unexpected tax bill can ruin your day. To help avoid that unwelcome surprise, here are some easy moves many people can make to cut their tax bills. In many cases, you must itemize rather than take the standard deduction in order to use these strategies. The extra effort may be worth it. (Flower Mound Texas Tax... Read more