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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

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

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

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

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

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

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

When an individual or couple files their taxes, they are usually eligible for at least a few tax breaks. The thing is, deductions and credits aren’t usually applied automatically. In many instances, you have to choose to pursue that tax deduction on your return. If you don’t, then you end up overpaying. (DFW... Read more

How did you feel about making more money? (DFW Tax Pros: Save Your Business Money) You probably could achieve this by working harder, but what if you could be smarter with the money you earn now?  Having more money by being smarter, rather than by working harder, is something you shouldn’t overlook. Tax planning is one... Read more

Property tax is a tax on real estate and sometimes other property which you own. Local governments typically assess property tax. The amount of property tax you owe is largely based on where the property is and how much it is worth. Calculating your property tax Property tax is typically determined... Read more

Now that tax season is in full swing, many workers will no doubt be scrambling to get their returns done. That also includes the self-employed. While filing taxes as a salaried employee often means copying down a number from a W-2 and calling it a day, there’s often a whole set... Read more

Tax filing fraud could reach an all-time high this year, as a result of last year’s Equifax data breach. Millions of names, addresses and Social Security numbers may be compromised, and an identity thief armed with your personal information can file a tax return in your name, and collect a... Read more

Minimizing taxes may be the difference between a profitable business and one that is just getting by. You all are probably thinking: “I don’t have extra time do deal with taxes.” Here are seven ways you can tame the stress of small business taxes and hopefully put a little (or a lot)... Read more

While it can be tempting to splurge money on something, saving some of it could be a smarter move over the long run. Here some ways that taxpayers with a household income of less than $75,000 can put that refund to good use. 1. Build up your rainy day fund... Read more

With tax penalties in place that could be as much as 5% a month, filing your taxes late as a business owner can be costly. To make sure you meet the tax deadline this year and every year going forward, you need to stay organized and spend the time it takes to... Read more

Tuesday is Tax Day, the last day to file income taxes for the 2017 income tax season. The old tax code was replaced by the tax cut legislation passed by Congressional Republicans late last year. This seems like a good opportunity to reiterate the tax changes for the country’s 29... Read more

Refund season is here! Last year, nearly eight out of 10 people received a tax refund worth an average of $2,895, according to the IRS.  If that average holds up this year, many taxpayers will once again get a nice check from Uncle Sam. CPA experts have some advice on... Read more

Most construction businesses will use two different tax-accounting methods: one for their long-term contracts and one generally for everything else. A long-term contract is any contract that is still going on  in the same year it’s started. Cash method of accounting One method that some construction contractors can use for... Read more

A major tax bill has been passed. In the years ahead many Americans will be paying more than before, while many others will pay less. People in both camps will still want to minimize any sums they pay, so here are some tax tips to help many taxpayers lower their... Read more

Any new year means more than new diets, gym memberships and other fresh beginnings. It also signals another tax-filing season is knocking. The Internal Revenue Service will begin accepting 2017 tax returns on Jan. 29. The filing deadline this year is April 17 (rather than the typical April 15 due date). And... Read more

The Tax Cuts and Jobs Act was signed into law on Dec. 22, 2017. It’s being put into action starting with the 2018 tax year. On the business side of things, the tax bill lowers the corporate tax rate from 35 to 21 percent. This is the lowest rate since 1939. For... Read more