Total Tax

02/14/2025

Just a little reminder 💙

02/06/2025

Let’s discuss tax savings & how we can turn some of those losses into wins!

01/20/2025

📌 SAVE this post to make sure you don’t miss a tax deadline in 2025!

Want to be extra sure you’re staying on top of your due dates? Be sure to follow !

P.S. Stay tuned for Q2 important due dates in a few months!

01/13/2025

Your LAST estimated tax payment is due on January 15th, here’s what you need to know: ⤵️

WHO HAS TO PAY?

If you expect to owe $1,000 or more in taxes when you file your tax return, you generally need to make estimated tax payments.

This generally includes self-employed individuals, business owners, people with significant investment income, and anyone earning income without sufficient withholdings.

WHEN ARE PAYMENTS DUE?

Estimated taxes are paid in quarterly installments. For 2024, the remaining fourth quarter installment is due on January 15, 2025.

Payments can be sent via mail with Form 1040-ES, but I recommend checking out IRS.gov/payments to learn more about the IRS’s electronic payment methods!

HOW MUCH DO I PAY?

You should be paying taxes on the income earned in the period covered by the quarterly tax payment.

To avoid an underpayment penalty, you need to pay at least 90% of the tax you owe in the current year, or 100% (110% for high-income earners) of your prior-year tax liability (whichever is lower).

Not sure? - Let’s chat.

01/13/2025

🚨HEADS UP - the standard deduction has gone UP for 2025! 🚨

Swipe to find out how much you’ll automatically be able to deduct.

Don’t forget to follow to stay up-to-date on the latest tax changes!

02/14/2024

💞 It's Valentine's Day (which means we have *just* over 2 months until Tax Day!).

Make your tax accountant fall in love with you as a client by getting your tax docs sent to them ASAP.

Need someone to be your tax-entine? 🫶

We are still accepting new clients. Submit your documents for review or book a consultation.
Link in our Bio!

02/01/2024

Calling ALL homeowners! 🏡

Make sure to ask your tax accountant whether you qualify for any of these deductions:

👉 Mortgage Interest
👉 Property Taxes
👉 Qualified Home Improvements
👉 Discount Points
👉 HELOC Interest
👉 Capital Gains Exclusion

Follow
for more helpful tax content!

01/31/2024

Let's talk tax FAQs: Do you owe taxes on the sale of your primary residence? 🏡

The short answer is... it depends!

If you have a capital gain resulting from the sale of your primary home and meet BOTH of these conditions:

👉 You have owned and used your house as your main home for a period aggregating at least two years out of the five years prior to the date of sale

AND

👉 You haven't taken the exclusion on a home sold in the past two years

You may qualify for an exclusion of some (or all) of your gain depending on your filing status.

For single filers, the exclusion of gain is $250,000. For married filing jointly filers, it's $500,000! 💸

Click the link in our bio to consult with your tax professional to ensure you meet ALL qualifications for any exclusion of home sale gain. Some exceptions will apply even if you meet the above criteria!
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01/26/2024

🎉 Congrats on starting a new business... now comes the fun part of dealing with all of your new tax obligations!

One of the most common questions I get from new business owners is: what type of tax return do I need to file?

What's my answer? Well, it depends!

The type of tax return you need to file will depend on the type of business organization and whether you've elected for any certain entity tax status.

👉 Swipe to learn the most common tax returns for new businesses!

Have a question about how your business will be treated for tax purposes? Let's talk!

01/09/2024

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