NealsonGroup

The money is there but you have to want it. You don't have to try to figure it all out by yourself. Put togher a team, and then crush it.

If you are up to your neck in tax debt, and can’t pay the IRS, fear not. Even if you don’t feel like you do….. You have options. . They’re called Tax Resolutions and include 1. Offer In Compromise 2. Installment Agreement 3. CNC - Currently Not Collectible 4. Penalty Abatement . Point is you don’t have to go it alone. We can negotiate on your behalf and most of all we’re here to protect you from the IRS. . . Now that’s HUGE!! .

What Are Capital Gains for 2023? Capital gains are profits made from the sale of assets and investments. . Like stocks and bonds, real estate, and even cryptocurrency. . How long you hold on to them will determine how they are taxed. . For 2023, you’ll between 0 and 20% depending on your income and your filing status. So you could have almost $90K in profits AND pay ZERO in taxes. . Now you know, and that’s HUGE!

Keep your personal and business bank account separate. . Why does it matter? . Because it creates messy books. Because it can get you in trouble with the IRS. Because it will show the IRS you are a legitimate business. . . Most of all…. You risk losing or voiding your LLC protection. . Now that’s HUGE!! 🔥🔥🔥🔥

It’s that time of year where everyone is looking to put together a “budget”. But what about a forecast? . So what’s the difference between a budget and a forecast anyway? . . Really not a lot. Simple way of thinking of it is like this. . . A Budget is where management would like to see the future based on expectations. . . A Forecast is like a temperature check on how we’re doing as a company in reaching those expectations. . . What does that mean….. . . Budget is “Here are Mgmt.’s our goals.” . . Forecast asks the question…”Will Mgmt. meet those goals?” . . Now that’s HUGE!!

1031 Exchange is a HUGE way to kick taxes down the road to a later date. Called deferring your capital gains. . Keep two things in mind. 1. There are VERY detailed rules you must follow to the letter. 2. 180/45 (that's not a fraction). You have 180 total days to complete the transaction, and only 45 days to ID the replacement. . Don't follow the rules, you burn your own bridge. . . Now that’s HUGE!!

NEVER EVER NEVER a tax write off LIST Bribes Kickbacks Political contributions Federal income tax Government imposed fines…… However, you can write off the expense of defending yourself. . . Now that’s HUGE!!

Tax Evasion - NOT legal - Failure to pay or deliberate underpayment. Tax Avoidance - TOTALLY LEGAL - Smart moves to lessen tax liability and maximize after tax income. Now that’s HUGE!! 🔥🔥🔥🔥

The tax code is NOT designed to be fair to the average taxpayer. AND as long as you are living an average life, as an average person, you will only be allowed to take advantage of average tax deductions. . . . HOWEVER, if you want to live an above average life, there are above average opportunities and tax loopholes for you and me. . . . Now that’s HUGE!! 🔥🔥🔥🔥

Here’s a simple way of thinking about taxes and tax code. . There must be a rule that says you can or can’t do something, that’s number 1. . Then there is almost ALWAYS an exception to the rule. . And there is Usually an exception to the exception, to the exception. . If you can find a code section to support your tax deduction, then awesome. Write that bad boy off, however if you think you can take the deduction because “my friend said his accountant did it” then you’re asking for trouble. . . . . Now you know, and that’s HUGE! 🔥🔥🔥🔥

You can give away $17,000 in 2023. That’s the limit for each gift, without it becoming a “taxable event”. If you are married you can give away $34,000 with no reason other than you are feeling UBER generous. 💰💵💰 . What if my wife and I want to give away property instead? Yep, go for it. . What if I want to pay for the medical bills or the tuition of someone else? Cha-Ching Non-taxable event. . . What if I give less than $17K or 34K? Non-taxable event. . I’ll leave my banking information in the comment section below. . . . . Now that’s HUGE! 🔥🔥🔥🔥

Tax MYTH If you make $180K you would pay a straight 24 or 32%, flat tax. Not true. . Your earnings are actually broken up into smaller portions. So your effective tax rate could be 16.5% in the end. . . Think of it this way. . Your Effective rate is your blended or average rate, and your marginal rate is the bracket you fall into based on your total income. . . You pay professional tax experts to make sure your effective tax rate is as low as legally possible...💪 . . . Now that’s HUGE!! 🔥🔥🔥🔥