Business owners can establish SEPs for major tax savings If you work for yourself and have not yet set up a tax-favored retirement plan for yourself, you can establish a simplified employee pension (SEP). (Flower Mound Business Tax Reduction: Your 2020 Bill Can Still Be Cut Down) Unlike other types of retirement plans, a SEP can be made this year … Read More
Dallas Tax Advice: Cut Business Costs, Part 2
As part of an ongoing series on how you can cut business costs, we’re sharing a few more tips. Finding the right balance between what to spend and what to save is what an expert CPA can help you with. (Dallas Tax Advice: Cut Business Costs, Part 2) 1. Align Your Use Of Resources To Your Objective Ask yourself, “What … Read More
Flower Mound Texas Tax Reduction: Cutting Your Bill
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 Reduction: Cutting Your Bill) 1. Tweak your W-4 The W-4 … Read More
Flower Mound Best Accountants: Your Tax Savings
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 selling holdings that have declined in value. You can then … Read More
Flower Mound TX Tax Savings: Cut Business Costs
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. Learning to optimize your costs takes time, errors, small tests … Read More
DFW Tax Reduction Experts: Saving Money During Tough Times
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 sitting there, you might think it’s a good time to … Read More
Dallas Tax Reduction: Saving More Income
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 income, how can you save even more? Below are a … Read More
DFW Save Taxes: Don’t Be a Cheap Business Owner
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; they grow by increasing sales. If owners, in an attempt … Read More
DFW CPA Tax Pro: Painless Cash-Saving Tips
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 separates successful people from people who struggle financially is often … Read More
Texas CPA All Stars: More Important Than Ever To Save On Taxes
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 those benefits. For those who fall into the 12% tax … Read More