Today turned out to be a great day. I was pretty busy with appointments, but I think I saved everyone I met money today. I love that part of my work.
My first appointment was simple. My client is a veteran and just bought a new home. It came up that he has not claimed his veteran’s exemption on his Indiana real estate taxes.
My next appointment was an S-Corporation owner that had set his wages way too high. By doing that, he was overpaying Social Security on Medicare taxes by about $12,000.
The next one was an owner of a construction company that bought enough equipment this year to have a loss on his tax return. I suggested converting a large portion his IRA to a Roth this year. Tax free this year AND tax free when it comes out! It doesn’t get any better than that.
The next one was a mom that had a W-2 job. I suggested starting a small business in order to take advantage of all of the deductions available to business owners. (See my blog 7 Reasons Even Grownups Need Lemonade Stands) She had been considering it anyway and now she’s about to embark on a great side hustle.
The last opportunity of the day was a dentist that wants to sell his practice. There are so many tax savings options here that I can’t even begin to explain it here.
Keep my winning streak going. Give me a call before the end of the year. Maybe we can save you thousands, too.