You Still Have Time to Lower Your Taxes in 2023! Just Not a Lot of Time….

by | Oct 26, 2023 | News

Need to lower your tax liability in 2023? Act FAST!

The best time for tax reduction planning is yesterday, but we DO still have a few very valuable strategies to help high income earners (W-2, 1099, K-1, business income) reduce 2023 income tax liability. BUT… you need to act FAST!

Time is of the essence not because we here at Ratio CPA wish it to be, but because there are various deadlines on tax reduction strategies, as set by IRS regulations.

Setting up retirement accounts, receiving deductions for small business strategies, receiving tax credits for strategies such as commercial solar projects – your deadline may be the end of 2023, or the time you file your 2023 income tax returns.

Why wait?

We all love to procrastinate and have a lot going on in our lives, but with taxes – we have a lot to lose by inaction. Some of our clients save tens or hundred of thousands of dollars annually by using our tax reduction services – this certainly warrants a deeper dive into tax reduction benefits.

Who qualifies?

Due to the nature of the tax code, individuals earning over $600,000 annually (on a W-2 or 1099), as well as businesses with annual revenues over $500,000 annually qualify for tax planning, and can expect good results.

The higher your tax liability, the better these results will be.

What to do next?

Your next step could be speaking with your CPA. Alternatively, if your CPA does not specialize in tax reduction planning, or advanced tax planning strategies apart from things like retirement, HSAs, or Airbnbs, contact our firm for a complimentary consultation.

We promise an informative and thourough explanation of your options! Click here to schedule a Zoom call!