Claudia Gloria, CFO, CB

I just helped a construction business owner get set up with a retirement plan that freed him up from the tax trap millions of Americans are in!

An instrument that offers tax-free growth, tax-free access to funds, and tax-free wealth transfer to heirs, providing significant tax savings.

It allows him to access funds without penalties, making it easier to manage cash flow and cover unexpected expenses in his business. It allows him to BE HIS OWN BANK!

It provides competitive interest rates, allowing the retirement fund to grow substantially over time! A life changing move! 👏🏻👏🏻👏🏻

Great time at “Grow Day” Mastermind with our amazing Coach Keith Craft

Investing in ourselves to continue growing so we can help our clientes to elevate their thinking so they can elevate their life and their business. 💪🏻

Breaking News! IRS makes free tax return program permanent starting in 2025.

Breaking News!

IRS makes free tax return program permanent and is asking all states to join in 2025.

The IRS will permanently implement its free electronic tax filing system starting in 2025, expanding on a successful pilot from the 2024 tax season. This initiative invites all 50 states plus the District of Columbia to participate, allowing taxpayers to file both federal and state returns at no cost.

Over 140,000 taxpayers utilized the system during the pilot, claiming over $90 million in refunds. The program, supported by funding from the Inflation Reduction Act, aims to simplify and reduce the cost of tax filing for Americans.

Reed article in the comments below👇

Find out if you are making any of these financial mistakes in your construction business now!

Direct message me to get a FREE copy of my eBook today!

¿Alguna vez se ha preguntado que se siente tener paz y tranquilidad mientras maneja y crece su negocio de construcción?

Bueno, si alguna vez se ha hecho esa pregunta, yo tengo algo especial para usted.

He ayudado con éxito a dueños de negocio de construcción quitándoles el peso de tener que trabajar hasta altas horas de la noche en el lado de la contabilidad de su negocio y a darles una dirección clara para comprender la salud financiera de su compañía y tener un negocio en crecimiento y con mas ganancias.

¿Le gustaría saber más?

¡Haga clic en el enlace a continuación para reservar su llamada de estrategia gratuita conmigo hoy! Durante esta llamada aprenderá cómo lograr tener paz y tranquilidad y un camino claro para tener un negocio con mas ganancias!

https://espanol.zerausa.com/

The S Corporation election deadline for LLCs and C Corporations is March 15, 2023. So, if you’re considering changing your limited liability company or C Corporation tax treatment from its default status to an S Corp, time is of the essence! Read Entire Article in the comments.

What Every Construction Business Must Know About 1099s...

Every year when tax time rolls around, many business owners wonder whether they must send 1099s to their vendors.

To help construction business owners understand the circumstances under which the IRS requires issuing 1099 forms, here is your basic “must-know” information.

Many freelance professionals and independent contractors operate as Limited Liability Companies (LLCs). The requirements for when a business should send a 1099 form to an LLC vary, as does the 1099 form to send.

Generally speaking, this is when LLCs should or should not receive a 1099:

When a single-member LLC is taxed as a Sole Proprietorship or a multi-member LLC is taxed as a Partnership, any business that pays the LLC $600 or more for services in the year must send it a 1099-NEC (Nonemployee Compensation) form.

If a business has sold $5,000 or more of consumer products to an LLC for resale, it may send Form 1099-NEC or 1099-MISC.

If an LLC is taxed as an S Corporation or a C Corporation, no 1099 is necessary under most circumstances.

Checkout these great YEAR END Business Tax Tips below 👇👇👇

Before you let the hustle and bustle of the holiday season take over your business (and your life), now’s a good time to review your financial situation and explore some money-saving small business tax tips.

Below is a list of my top tax tips entrepreneurs can still benefit from at year-end:

1. Deduct Startup Expenses

2. Automate Accounting

3. Defer Income and Purchase New Equipment

4. Contribute to a Retirement Plan

5. Remember Your Rent Income

6. Give Back to the Community

7. File W-2s and 1099s

8. Plan for Estimated Taxes

As always, we're here and at your service should you have questions or need assistance with your business finances.

Wishing you a safe, healthy, and wonderful holiday season and a happy New Year!

One of my passions in life is to help my clients to create generational wealth. This is one of the tools I use to help them with their present and future.

A 3 in 1 product that provides them with death benefit protection; accessibility with living benefits; and cash value accumulation.

National Life IUL Index National Life IUL Index

Mastermind day!

THE INEVITABLES OF SUCCESS:

1. YOU WILL FEEL PAIN.
2. YOU WILL CRY BEFORE YOU GET IT.
3. YOU WILL LOSE YOUR FRIENDS.
4. YOUR FAMILY WILL DISCOURAGE YOU.
5. PEOPLE WILL HATE YOU FOR NO REASON.
6. YOU WILL ALMOST TALK YOURSELF OUT OF IT HUNDREDS OF TIMES.
7. YOU WILL DOUBT YOURSELF THOUSANDS OF TIMES.
8. YOU WILL THINK YOU ARE GOING CRAZY.
9. YOU WILL DEVELOP GOOD HABITS.
10. YOU WILL LOSE MONEY.
11. IT WILL ALL BE WORTH IT.

-Keith Craft

A lot has changed tax-wise in the past year due to new legislation. Checkout this info for a quick look at what business owners need to know about filing their taxes in 2022.

https://www.corpnet.com/blog/business-owners-filing-taxes/

What Business Owners Need to Know About Filing Taxes in 2021 Here’s a quick look at what business owners need to know about filing their taxes and the latest pandemic-related tax incentives.