The Best Tax Savings Happen Before Tax Season
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Hello Wealth Builders! We are not halfway through the year YET, but we are at the beginning of 3rd quarter for estimated tax purposes. Third quarter estimated taxes include income earned from June, July, and August, due September 15th. This quarter, I want to help five business owners redirect money from Uncle Sam's bank account back to theirs. I will help you with strategic tax planning, entity optimization, proactive tax-saving strategies, and quarterly tax estimates so there are no unexpected shocks when it's time to file. Most business owners don't have a tax problem. They have a planning problem. You deserve more than someone who simply files tax returns. Our clients aren't transactions. They're long-term partners. If you're looking for a responsive, proactive advisor who helps you make smarter financial decisions year-round—not just at tax time—you're in the right place. Stop reacting to taxes. Start planning for them. Ready to work with a tax strategist who thinks ahead? Schedule your discovery call using the link below. Karitsa Kerns, CPA, EA
I help women business owners keep more of what they earn because too many brilliant women are losing wealth to taxes they don't have to pay. DEADLINES June 15th -
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Look forward. Plan smarter. Build wealth. |
Welcome to the KNK Tax & Accounting Blog
Have you ever been shopping during a sale, gotten to the register, and the cashier says: “Actually, I can give you another 25% off.” It wasn’t advertised. You didn’t know about it. But the cashier did. Would you say, “No thanks. I’d rather pay full price”? Of course not. Yet private practice owners do something similar with taxes all the time. They wait until tax season to talk to a tax professional. They get hit with a large tax bill and immediately start figuring out how to pay it. Or they...
Running a profitable private practice does not automatically mean you are paying the lowest amount of tax legally required. In fact, many private practice owners overpay—not because they did anything wrong, but because their tax strategy has not kept pace with the growth of their practice. Here are five common reasons: 1. Your business entity no longer fits the practice The entity that worked when your practice first opened may not be the most tax-efficient structure now. As revenue and...
The IRS recently announced a change that could make it easier for some taxpayers to get penalty relief. Starting this summer, the IRS will begin automatically removing certain penalties for taxpayers who have a strong history of filing and paying on time. In the past, you generally had to contact the IRS and request the First Time Penalty Abatement. Under the new process, called the Automatic Exemption from Penalty, eligible taxpayers will not have to ask. You may qualify if you filed your...