Daniel HonanFounder, Profitable Painter CPA PLLC · I help painting contractors increase profits & cash flow while reducing taxes♦ Bookkeeping ♦ Tax

Painting Business Owners: Be Proactive with Your Tax Strategies—Implement Before Year-End!

Name: Painting Business Owners: Be Proactive with Your Tax Strategies—Implement Before Year-End!
Uploaded: 2024-12-03T14:15:04+00:00
Duration: 43 s
Channel: Daniel Honan
Description: Painting business owners should meet with a CPA or EA before December 31st to plan tax credits and deductions that fit their situation. Waiting until…

3 Dec 2024 · 1 min

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Painting business owners should meet with a CPA or EA before December 31st to plan tax credits and deductions that fit their situation. Waiting until after year-end means the IRS controls your payments instead of you controlling your outcome.

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definitely get with your tax professional, your CPA, your EA. Talk to them before the end of the year. They're going to know your personal situation really well, and they're going to be able to help direct you to which moves are going to move the needle for you the most, be most appropriate for your situation. But the one thing I do want to emphasize here: be intentional about your taxes. Decide what credits and what deductions that you want to take, because if you are not being proactive, the IRS is going to tell you how to pay your taxes, and it's not going to be in your benefit. So captain your own ship, decide how you want to run your financial life, make some moves before December 31st. Awesome. Love to hear your thoughts. Join the conversation. Go to Grow Your Painting Business on Facebook. Join that group.