It's Half Time!
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Hello Wealth Builders! We can officially say that we are half way through the year. It is the perfect time to reflect on what happened in the last six months, and plan for what you would like to happen in the next six months. Now is the time to ensure your strategies align with your goals. Of course this includes tax planning if you are planning to have a lower tax bill. Every year business owners purchase vehicles, spending more than they save in taxes, just to get a deduction. Can purchasing a vehicle or equipment be a good tax deduction? Sure! Is it always the best? No. You don't always have to spend to save. You may:
That's just to name a few. You should plan with intention and not a knee-jerk reaction. It's time get your star players together and huddle up. Let's make the second half the best half, and finish the year strong! If you are an established or rapidly growing business, let's connect to see how we can help you redirect your money from the IRS back to your wealth building goals.
DEADLINES September 15th -
September 25th -
October 15th -
January 15th of the new year -
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Look forward. Plan smarter. Build wealth. |
Welcome to the KNK Tax & Accounting Blog
Hello Wealth Builders! High earners excel at building their business and bringing in revenue. That's your superpower. The downside is many don't think about taxes until March, or even September/October. If that's you, you could be leaving thousands on the table, or worse, in the IRS treasury. Smart high earners review, adjust, and take action in Q4 to redirect money from the IRS back to their bank accounts. Here's what you need to do: Review your financial reports - Accurate, up-to-date...
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Hello Wealth Builders! I promise I've heard this hundreds of times, "Just set up an LLC or S Corp and write everything off". The complaint I hear from taxpayers and new clients is, "I just need some more write-offs". Of course you want to accurately report your income and expenses, but that's not always enough. The truth is real tax strategy isn't about write-offs. That's the bare minimum. Real tax strategy is about wealth building. Wealthy people don't lower their taxes by spending...