Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
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Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
104. From W-2 to 1099: Everything You Need to Know About Self-Employment Taxes
What Your CPA Wants You to Know
29 minutes
3 months ago
104. From W-2 to 1099: Everything You Need to Know About Self-Employment Taxes
Send us a text Transitioning from W-2 employment to receiving 1099 income fundamentally changes your tax situation and officially makes you a business owner, even if you're doing the same work as before. • Self-employment tax means paying both the employer and employee portions of Social Security and Medicare (15.3%) on top of income tax • Business expenses can be deducted against your 1099 income, reducing your taxable income significantly • Opening a separate business bank account is cruci...
What Your CPA Wants You to Know
Send us a text We share ten year-end tax moves that actually save money when done before December 31, from bonus depreciation and retirement setup to the Augusta rule, income timing, and a no-drama plan to clean up your books. The focus stays on practical steps, clear timing, and spending only where it helps growth. • sending client gifts within deductibility limits to strengthen loyalty • timing equipment and vehicle purchases for 100 percent bonus depreciation • using year-end bonuses with...
