Allegiance Tax Service

It's WAY harder to implement a strong tax strategy once January 1 rolls around - the tax year is already over!

That's why we love Proactive Tax Planning!

So, how can you get ahead on tax planning this summer?

First, schedule a call with your tax accountant! We're going to check in to see whether any changes in your personal life, employment, or business warrant proactive tax planning.

Are you planning to invest in real estate or start a business?

These type of life changes can have huge tax implications, and you might not have remembered to loop us in until next Spring.

Let's get ahead this summer - message us to set up a call!

💵 Paying less in taxes doesn't have to mean complex tax planning strategies!

Here are 3 actions you can take TODAY to minimize your taxes!

This post isn't meant to say we're predicting a recession - but I'm sure you've read a headline that makes you feel a little nervous about the possibility!

➡️ Swipe to see how your tax accountant can support you and your business throughout uncertain economic times.

⏰ This is your wake up call - let us help you prove the numbers wrong!

Businesses can fail for a variety of reasons, but one of the biggest is a failure to plan for taxes.

Whether you're self-employed for the first time (say hello to quarterly tax payments!), or not sure whether you should be collecting sales tax - working with a tax professional can help you make business decisions with confidence.

The 2022 tax season is bringing with it a whole host of changes!

We're about to get super technical - so click the link in our bio if you want to skip the tax talk and have it done for you!

Ok, here are some of the BIG changes you should know about:

💸 The standard deduction has been increased to $12,950 for single filers (and increase for the other filing statuses too!).

💸 The minimum age for a childless worker to claim the Earned Income Tax Credit has been increased to 25 years old. However, the EITC amount has increased, as well as the earned income amount to qualify for the credit.

💸 The Child and Dependent Care Credit percentage has decrease and the credit is no longer refundable.

💸 Third-party payment apps (Venmo, Paypal, Cash App, etc.) will now be issuing a 1099-K for all payments received through their platform.
.. and there's a lot more where those came from!

Your job isn't to keep up with tax changes - that's why you hire us!

If you are making 💰 money from your content creation work, you should be keeping track of any business expenses so you can deduct them from your overall income and keep more of your money.⁣
⁣
Not sure which expenses you should track?

⬆️ Here are some common deductions.⁣ ⬆️

Click the 🔗 in our bio to schedule a FREE consultation!

👉🏾 Follow for more tax tips 👈🏾

Am I right?! 😩

A general rule of thumb for covering your federal and state tax obligations is to set aside a minimum of 30% of your business income.
(Although, the total amount will vary depending on your industry)

As you set an estimated amount aside for taxes, consider increasing that amount to start building a savings cushion ✅

Click the 🔗 in our bio to schedule a FREE consultation!

👉🏾 Follow for more tax tips 👈🏾

Taxes can eat into your annual earnings. 🥲⁣
⁣
To counter this, tax planning is a legitimate way of reducing your tax liabilities.

Click the 🔗 in our bio to schedule a FREE consultation!

👉🏾 Follow for more tax tips 👈🏾

🚨 SAVE THIS 🚨

The Small Business Bookkeeping Checklist ☑️

Every business is different so adapt this to how you see fit & as always if you have any questions don't hesitate to reach out ⤵️

☎️ 562. 467. 6950
📧 [email protected]

Repeat after me 🗣