DWA Tax Firm

A big tax refund sounds like a win but it can be an L

Because when you get a refund, it usually means one of two things.

1.) You qualified for refundable tax credits

2.) You over-withheld all year aka you gave the IRS an interest-free loan

Your money should be working for you all year - not parked at the IRS.

Can you write off an engagement ring?

Tax season is here ‼️ - Never overpay or miss money on your tax return EVER again.

With the new tax laws in effect, it’s more important ever to work with a tax pro that gets your return right!

We work with W-2 taxpayers, business owners, investors, rental property owners, non-profits and S-Corp owners.

I am a licensed IRS Enrolled Agent - the highest credential the IRS awards to tax professionals for their knowledge in taxation.

To work with us, send us a message or book a consultation at: DWATaxFirm.com

W-2 taxpayers, avoid this common mistake! 🚫

Most of the time when I file a W-2 taxpayer’s return and they owe, it’s because they have multiple W-2s and aren’t withholding correctly.

Here’s what happens: each job withholds taxes like you’re in a lower tax bracket and like it’s your only job. But when all your income combines, it can push you into a higher tax bracket and that’s when you get hit with a surprise balance due.

Don’t make this mistake. Use the IRS free Withholding Estimator and update your W-4 so you’re set up the right way.

“No Tax On Overtime” is getting sold like it means tax-free… and that’s not how this works 😅

There may be a federal deduction on the overtime premium, but you’re still paying F**A (Social Security + Medicare) - and possibly state tax too.

In the video I break down how it actually works!

“Tax-free tips” is kinda a myth. 🧠

What’s being talked about is a federal income tax deduction for qualified tips, not a rule that makes tips automatically untaxed. That means it can lower your taxable income, but you will still owe Social Security + Medicare (F**A) on those tips, and state income tax might still apply depending on where you live.

Also, it’s not unlimited — the deduction is capped at $25,000, so the savings depend on your tax bracket and your total income.

In the video, I walk you through a very simplified example of how no tax on tips works on your federal tax return.