Ryan Beals CPA, PLLC

Tax Tip Tuesday: Energy Efficient Home Improvement Credit
Are you looking to save on your energy bills and reduce your tax burden? Consider investing in a heat pump! Heat pumps are an energy-efficient alternative to traditional heating and cooling systems, and they can help you qualify for the Energy Efficient Home Improvement Credit.

What is the Energy Efficient Home Improvement Credit?
The Energy Efficient Home Improvement Credit allows homeowners to claim a tax credit for installing energy-efficient improvements in their homes, such as heat pumps. This credit can help offset the cost of instillation while also easing the cost to cool your home.

How does it work?

Eligibility: You can claim the credit for installing qualified heat pumps or other qualifying energy efficient appliances in your primary residence.
Credit Amount: The credit covers a percentage of the cost, including installation.
Documentation: Keep all receipts and documentation related to the purchase and installation of the heat pump.

Benefits of Heat Pumps:

Energy Efficiency: Heat pumps use less energy than traditional HVAC systems, leading to lower utility bills.
Environmentally Friendly: By using renewable energy sources, heat pumps reduce your carbon footprint.
Year-Round Comfort: Heat pumps provide both heating and cooling, ensuring your home is comfortable in all seasons.
Don't miss out on the opportunity to make your home more energy-efficient and save on your taxes. Talk to a tax professional today to learn more about the Energy Efficient Home Improvement Credit and how you can benefit from installing a heat pump.

Are You Saving for Retirement?

🌴🐷☀️

As a business owner, it's easy to get caught up in the day-to-day hustle and forget about your future. But planning for retirement is crucial to ensure you can enjoy the fruits of your labor without financial stress.

Here are some ways you can start saving today:

Solo 401(k): Maximize your savings with both employee and employer contributions.
SEP IRA: Benefit from high contribution limits and tax advantages.
SIMPLE IRA: A straightforward plan that's easy to manage for small businesses.

Don't let your future be an afterthought. Start planning now and enjoy a worry-free retirement!

Want to learn more? Contact us today for personalized advice and strategies tailored to your unique business needs.

💬 Comment below with your questions or visit our website for a free consultation!

Just a reminder that the estimated tax payment for the 2nd quarter of 2024 is due in one week, June 17th, 2024. It's important for business owners to stay up to date with payments to avoid unnecessary penalties with the IRS. If you are unsure what amount you should pay, we recommend making a payment that is at least 1/4 the "Safe Harbor" amount. The safe harbor amount is the lower of 100% of your previous taxes owed or 90% of the tax you owe for the current year. Taxpayers who have paid in the safe harbor amount for the year can avoid penalties from underpayment.

A tax professional can help you determine an appropriate amount to pay each quarter to avoid big surprises at tax time.

We work with Texas business owners who are ready to take their tax planning to the next level. If you are interested in working with us, schedule a consultation online today.

Business owners, schedule a free online consultation today to learn how a tax professional can help take the stress out of tax time. Spaces are limited so schedule today at ryanbealscpa.com/book-online

Business Consultation - Phone or Zoom

If you're like most business owners, you may not know where to start when it comes to filing your taxes. We created this 5 step guide to help you get your business ready for tax season. If you'd like to learn more about how we can help your business, schedule a free online consultation today by visiting RyanBealsCPA.com.

5-Step Guide to Preparing to File Your Business Taxes Get ready for tax season with ease! As a CPA firm specializing in business tax preparation and planning, we've put together a guide on how to prepare for tax season as a client. From gathering necessary documents to seeking professional help, we've got you covered. Learn how to make tax season less....

Last night we were live answering your business tax questions! If you missed it, here is what you missed. We hope you see you at the next event on December 13th at 7pm central. We will be live again to answer your business tax questions!

Facebook Live 12.6.2022 Answering business tax questions on Facebook live. We will be live every Tuesday in December at 7pm central. If you have a business tax question, join us! ...

Have a business tax question? Join us tonight at 7 pm central on Facebook Live. We will be answering your tax questions! We look forward to answering your questions and hope to see you there! Click the link below to sign up for reminders.

https://fb.me/e/5wfeEi2go

Hey business owners, do you have a tax question? We will be live on Facebook Live every Tuesday at 7 pm for the remainder of the year to answer your business tax questions. We hope to see everyone there!

http://ow.ly/GvwQ50LMB5W

We will be going live on Facebook every Tuesday for the remainder of 2022 to answer your tax questions. If you have a tax planning question related to your business or personal taxes, we will answer them live.

Click the link below to be reminded and join the event. We hope to see you there!



http://ow.ly/GvwQ50LMB5W

Mattress Mac could use a little tax planning right now. Let’s talk about how his historic bet will effect his taxes.

We are a fully virtual tax preparation and planning services but love helping local businesses in the League City, Webster, Friendswood and Baytown areas.

Schedule an online consultation today and learn how we can help your business save with tax planning.

Ryan Beals CPA, PLLC on Instagram: "Mattress Mac could use a little tax planning right now. Let’s talk about how his historic bet will effect his taxes. We are a fully virtual tax preparation and planning services but love helping local... Ryan Beals CPA, PLLC shared a post on Instagram: "Mattress Mac could use a little tax planning right now. Let’s talk about how his historic bet will effect his taxes. We are a fully virtual tax preparation and planning services but love helping local businesses in the League City, Webster, Friends...

Has it been six months already? If you filed an extension in April to extend the filing deadline by six months, time is running out to file your return.

Every year we receive many questions regarding the extended deadline; here is a beginner's guide to navigating the October 15th deadline.

We are an entirely virtual firm focusing on business tax planning and preparation. We can help clients anywhere in the United States but especially love assisting local clients in the League City, Webster, Friendswood, Baytown and Galveston areas.

If you want to learn more about how we can help your business pay fewer taxes, schedule a complimentary consultation by visiting us online at RyanBealsCPA.com.

Today we celebrate the social and economic achievements of the American workers. We celebrate the hard work and dedication to achieving the American Dream. We celebrate the life long commitment to refining your craft and being the best you can be. We celebrate the tireless dedication through early mornings, late evenings and long weekends. We celebrate the pride that comes with a job well done. We celebrate the many contributions to the community your success brings.

Your hard work and dedication inspires us. We are proud to be your partner in the pursuit of the American Dream.

We hope you have a restful Labor Day.

Did you receive a notice from the IRS? This helpful tool can help you decide what to do next.

Responding and solving issues related to IRS notices can be frustrating and time consuming. We can make the process easier by responding on your behalf. Just one of the perks of being a subscriber to our tax services.

Did you get a notice from the IRS? Start with the digital Taxpayer Roadmap to learn more about your letter or notice: www.taxpayeradvocate.irs.gov/roadmap.

By now you have heard about the Inflation Reduction Act, the latest bill to be signed into law. The new law effects many different industries, your taxes being one of them. Here is what to expect from the Inflation Reduction Act and how it effects your taxes.

- Increased IRS Funding - The law includes increased funding for the IRS over the next decade to improve enforcement of the tax code. The funds will be used to hire additional agents as well as replace a large amount of agents scheduled to retire in the coming years. Funds will also be allocated to support operations, taxpayer services & systems modernization. This will likely increase the rate of being audited but could also make dealing with the IRS easier. The Treasury Secretary issued a directive to not increase audit risk of taxpayers earning less then $400K but there is currently no mandate to enforce this directive.

- Increased Research Credit - Small businesses who qualify for the credit can claim up to $500K against payroll taxes. Credit is doubled from $250K to now $500K.

- Residential Energy Efficiency Credits - Nonbusiness clients who install certain energy efficient items such as windows, doors, HVAC & heat pump units could qualify to receive up to $1,200 annually.

- Electric and Fuel Cell Vehicle Incentives - Qualifying individuals could receive up to $7,500 in credits for purchasing a new electric vehicle. The credit is subject to income limitations as well as sourcing requirements from the manufacturer. Individuals who purchase used electric vehicles could also qualify for up to $4,000 in credits.

We specialize in helping businesses lower their tax bill with proactive strategies. If you are a business owner and would like to learn more, schedule a complementary consultation today by visiting the link below.

http://ow.ly/UQlI50KptJ0

It's time to go back to school but that doesn't mean your vacation has to be over. With proper tax planning you can take a vacation from taxes in your business. Our tax professional works with businesses to help lower and eliminate unnecessary taxes in your business. We are fully virtual but love working with local businesses in League City, Webster and Friendswood.

If you are ready to take a vacation from taxes in your business, schedule a complementary consultation today buy visiting our webpage RyanBealsCPA.com.

Happy Monday to all the business owners! We see you out there giving it everything you have. Everyone from the side hustles, to the mom and pop shops, to the big brands we all know and love. We see your passion for your work and it inspires us.

We are in business for your business and we wouldn't be here without you. We love helping businesses navigate their tax planning strategies and lowering their income taxes. We especially love working with local businesses in League City, Friendswood and Webster!

Our first cup of coffee is dedicated to you! ☕

Happy Monday.

Summer isn't over yet! Here is some advice on how to keep your A/C running smooth from the experts at 32 Below Inc.

Have a business tax question? Comment your question below and we could make a video answering your question!

We are working on building a library of Q&A type videos and want to hear from you!

Follow us on YouTube to see if we answered your question.

https://www.youtube.com/channel/UCvKRp71t5YnprZ6rppeZHlA

We do things a little differently. We offer business tax services with monthly subscription pricing.



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Subscription Vs. Traditional CPAs: An Honest Comparison An honest comparison between CPAs and tax professionals on subscription model compared to traditional.