Tax Season 2021
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Hire a Tax Professional
Hiring an experienced tax expert can make a difference. The key here though is to plan in advance! Don’t wait until the dreaded deadline each year, April 15, to start thinking about tax savings.
You want to plan with as much time as possible because generally, the more time we have to pre-plan, the more we can save you.
Also, an experienced tax professional to help you remain compliant with the federal requirements.
I have helped dozens of trucking/freight companies save on their tax bill, and it’s possible I can help you too.
Our tax saving system runs estimated saving from a list of 60+ additional tax saving deduction that could help you maximize potential tax savings.
Let’s schedule a talk, and we can see if you have been overpaying in taxes and how much you could save for this year:
Maximize your tax savings this 2021:
We’ve been helping our transportation clients implement tax planning to help them reduce their tax payments.
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Commercial loans are great because you can fund your business; be on the lookout for high interest rates when you apply for a commercial loan.
How Rising Inflation May Lead to Higher Tax Bills
Inflation has been rising over the past year. Taxes haven’t increased as quickly as inflation, but now it’s possible to pay more in taxes than you used to; this is because the IRS calculates taxes based on income and inflation.
2021 Tax Law Proposals Timeline
The Biden administration has introduced a series of tax proposals as part of the Build Back Better initiative to pay for new government programs such as education and infrastructure.
Bipartisan Infrastructure Bill
House has agreed to a motion to concur in the amendments made by the Senate to the Bipartisan Infrastructure Bill.
Senate Democrats Float “Billionaires Tax”
A billionaires tax on unrealized appreciation has floated to make up for the billions of dollars in new revenue that would be raised by tax increase.
Build Back Better Act (Draft Released)
Build Back Better Act has been launched includes approximately 1.75 trillion dollars to combat climate change, extend health care and ease child poverty.
Capital Gains, a Retroactive Timeline
With the new tax hikes proposal developed this week in Washington, there are notable changes coming to your capital gains and dividend income taxing.