W-2 employees split Social Security and Medicare taxes with their employer, but self-employed taxpayers pay the full 15.3%, making tax planning crucial as income grows. #IRS #TaxPlanning #SelfEmployment #PayrollTax #W2 #TaxStrategy #SmallBusiness #Accounting

Bonus depreciation is automatic while Section 179 must be elected, and smart tax planning can use both to maximize deductions for real estate and business owners. #IRS #TaxPlanning #Depreciation #BonusDepreciation #Section179 #TaxStrategy #RealEstateTax #BusinessTax

The IRS audit process follows 9 structured steps from the initial letter to resolution, and working with a tax professional is key to navigating it smoothly. #IRS #TaxPlanning #AuditProcess #TaxTips #TaxStrategy #TaxPro #Accounting #TaxEducation

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Teaching Tax Flow offers three free resources, our Defeating Taxes Facebook group, the TTF podcast, and the TTF YouTube channel, to help taxpayers legally and ethically reduce their lifetime tax burden. #IRS #TaxPlanning #TaxTips #DefeatingTaxes #Podcast #YouTube #CPAs

The Augusta Rule (IRC 280A(g)) allows you to rent out your primary residence for up to 14 days per year tax free, creating a powerful strategy for homeowners and business owners alike. #IRS #TaxPlanning #AugustaRule #TaxStrategy #SmallBusiness #Entrepreneurship #CPAs

New business owners and self-employed individuals should avoid commingling by using a dedicated business account, documenting transfers, & relying on a good bookkeeper for accuracy & compliance. #IRS #TaxPlanning #SmallBusiness #Entrepreneurship #BusinessTips #Bookkeeping #CPAs

Starting September 30, 2025, the IRS will stop issuing and accepting paper checks, requiring taxpayers to use electronic payment systems like IRS Direct Pay or EFTPS to save costs and enhance security. #IRS #TaxUpdate #TaxPlanning #ElectronicPayments #TaxTips #Finance #CPAs

Choosing how to tax your LLC is like picking the right vehicle, it depends on your situation, so work with a tax professional to find the most efficient option. #LLC #TaxPlanning #BusinessStructure #SCorporation #Partnership #SmallBusiness #IRS

Blended families face unique tax planning challenges around child tax credits, estate planning, and education savings, making proactive strategies essential. #TaxPlanning #BlendedFamilies #EstatePlanning #ChildTaxCredit #EducationPlanning #529Plans #IRS

You can change tax professionals while on an extension, but always focus on making the best result possible and weigh whether continuity or switching is the right choice for your situation. #IRS #taxtips #taxplanning #taxprofessional #taxpreparation #taxextension #defeatingtaxes

The IRS treats digital assets like crypto and NFTs as property, not currency, so they’re taxed and reported differently with no FBAR requirements. #CryptocurrencyTax #NFTTax #DigitalAssets #IRSGuidance #CryptoTaxes #TaxCompliance #IRSReporting #TaxStrategy #CryptoInvesting

Tax planning ideas are everywhere, but true value comes from working with the right people to actually implement them. #TaxPlanning #Strategy #Implementation #DefeatingTaxes #TeachingTaxFlow #Community #IRS

Understanding the difference between a W2 and a 1099 comes down to whether you’re an employee with taxes withheld or an independent contractor reporting income yourself. #IRS #TaxTips #W2 #1099 #SelfEmployed #TaxPlanning #FinancialEducation

Leaving a W2 job? Don’t forget to think about your retirement accounts, HSA, and life insurance before making the move. #IRS #TaxPlanning #W2 #RetirementPlanning #LifeInsurance #HSASavings #FinancialTips

If you’re a business owner paying over $100000 in taxes each year, the 831(b) private reinsurance strategy can help you defer and reduce taxes, think of it like saving half a bagel for later at a discount #TaxStrategy #BusinessOwner #TaxPlanning #831b #PrivateReinsurance #IRS

Do not let the tax tail wag the dog, make decisions that make financial sense beyond just chasing deductions. #IRS #TaxPlanning #TaxStrategy #TeachingTaxFlow #DefeatingTaxes #TaxTips #SmartDecisions

Your tax return is a verb, not a noun, proactive year-round planning beats reactive once-a-year filing every time. #IRS #TaxPlanning #TaxStrategy #TeachingTaxFlow #DefeatingTaxes #TaxTips #LifetimeTaxSavings

The IRS is your involuntary business partner, tax planning lets you decide how much they get, not the other way around. #IRS #TaxPlanning #TaxStrategy #DefeatingTaxes #TeachingTaxFlow #TaxTips #BusinessTaxes