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  • Writer's pictureThe Lincoln Accounting Team

Plan now, save later

We're back after a lengthy tax season!

Sick of the government snatching your hard-earned dollars?

Tired of watching your profits disappear into a black hole of taxes?

So are we.

But good news: there's a way out.

Let me spell it out for you: tax planning.

Sounds boring? And possibly even expensive.

But it's not. We don't charge like other firms too. Most firms will take a cut of the savings, not here at Lincoln.

Let's talk numbers.

Over 30 million small businesses in the U.S. are using tax planning strategies to save big. You need to be one of them.

Here’s the 30,000 foot game plan:

1. Play with timing: delay your invoices, accelerate expenses. Result? More cash in your pocket, less in Uncle Sam's.

2. Depreciation: your new best friend. It lets you chalk off an asset's loss in value as an expense. Section 179 is your friend.

3. The Qualified Business Income Deduction: If you're a sole proprietor or an LLC, you can deduct 20% of your business income.

Amazon and General Electric can't do that.

4. Fund retirement plans: think 401(k) or SEP-IRA. Your future self will thank you.

5. Offer employee benefits: health insurance, life insurance, tuition assistance. Attract talent, reduce taxable income. Win-win.

6. HSAs: Health Savings Accounts. Contributions are tax-free, and withdrawals for health expenses? Also tax-free.

7. Consider relocation: Wyoming and South Dakota have no individual or corporate income tax.

Lower taxes, higher profits.

Bottom line: Don't let taxes eat your profits.

You've worked hard.

You deserve to keep what you've earned.

Ready to put more money in your pocket and less in Uncle Sam's?

Click here to start your journey to a tax-efficient business today.

Keep hustling,

Ryan & Scott

P.S. Don't fall into the trap of DIY tax planning. Our program will guide you through the maze, helping you save big. >> Click here to start saving on taxes today!

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