Anne Arundel Accounting and Taxes, Inc

I’ve worked with many firm owners making strategic financial moves—selling practice properties, liquidating assets, and restructuring for growth. But here’s what’s often overlooked: asset sales can come with tax liabilities of up to 22% on gains. Yesterday, I broke down key tax strategies to help practice owners minimize taxes and maximize profits when selling business assets. If you’ve sold or are planning to sell an asset, you’ll want to watch this. ?? Comment 'Replay' below, and my team will send it over! #taxesandprofits #strategicfinancial #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

Many firm owners are making strategic financial moves this year—whether it’s upgrading office space, selling investments, or streamlining operations. But here’s what most don’t realize: selling business assets or practice-related property can trigger significant tax liabilities. Are you prepared? Tomorrow, Corrin Woodard will be breaking down how to estimate your tax obligations on asset sales and share strategies to minimize what you owe. ?? Wednesday, March 12, 2025 ?? 8 AM EST Comment ‘LIVE’ if you’ll be joining us, or ‘Replay’ if you want to catch it later! #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

Thinking about selling a business asset or restructuring your firm’s investments? Whether you’re upgrading office space, selling equipment, or shifting financial strategies, don’t overlook the tax implications. A proactive tax strategy ensures you maximize your returns and avoid unexpected liabilities. Let’s make sure every financial move works in your favor. ?Have you ever sold a major business asset and been surprised by the tax bill? Let’s discuss in the comments! #IRS?#incometaxreturn?#taxseason?#taxready?#business?#smallbusinessowner?#practiceowners?#lawyers?#mentalhealth?#counselors?#mentalhealthpoviders?#firmowners?#businesstaxes?#taxtalk?#taxhelp?#businessgrowth?#businesstips?#businessgoals?#businessmindset?#smallentrepreneurs?#taxtips?#taxtipsforentrepreneurs?#AAATAX?#AAAccountingandtaxes

As tax season approaches, we’re reflecting on the incredible growth we’ve experienced at AAATAX this past year. A huge thank you to our returning and new clients—established practice owners and firm leaders who understand the value of proactive financial strategy and expert tax planning. Your trust in us allows you to focus on growing your firm while we handle the numbers. Here’s to another year of smart financial decisions and continued success! #IRS?#incometaxreturn?#taxseason?#taxready?#business?#smallbusinessowner?#practiceowners?#lawyers?#mentalhealth?#counselors?#mentalhealthpoviders?#firmowners?#businesstaxes?#taxtalk?#taxhelp?#businessgrowth?#businesstips?#businessgoals?#businessmindset?#smallentrepreneurs?#taxtips?#taxtipsforentrepreneurs?#AAATAX?#AAAccountingandtaxes

Have you or another firm owner in your network received an IRS correction notice—even though everything was filed correctly? Over the past two tax seasons, we’ve seen an increase in these notices, often due to IRS processing errors, mismatched payments, or unrecognized filings. Here are the top three reasons these notices are issued—and what you should do next: IRS Adjustments for Economic Impact Payments (EIP) & Child Tax Credits The IRS may claim you received payments you never actually got or adjust your return based on mismatched records. Solution: Request a tax transcript to verify their records and appeal any discrepancies. IRS Claims They Never Received Your Filed Tax Return or Payment Due to the backlog, some paper filings remain unprocessed, even if checks were cashed. Solution: Always file electronically when possible. If mailing, use certified mail with tracking to retain proof of filing. The IRS Didn’t Recognize Your Quarterly Estimated Tax Payments Some firm owners receive notices for taxes they’ve already paid because the IRS fails to match payments properly. Solution: Keep detailed payment records, including online confirmation numbers and certified mail receipts, to dispute errors quickly. How Firm Owners Can Stay Ahead ? Request a tax transcript to verify the IRS’s records before responding to any notice. ? Work with a tax professional to handle disputes efficiently. ? Keep detailed records of all payments and filings to avoid unnecessary penalties or delays. IRS errors shouldn’t disrupt your firm’s operations. With the right financial strategy, these issues can be resolved efficiently. Found this valuable? Comment “VALUE” below! Know a business friend who needs to hear this? Share this post or tag them below! #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

Tax season is here, and for firm owners, it’s more than just filing paperwork—it’s about making strategic financial decisions that support long-term growth. Surrounding yourself with the right network is just as important as having the right tax strategy. That’s why we’ve built a community of like-minded, established practice owners and firm leaders who value smart financial planning, efficiency, and proactive decision-making. ?? Looking to connect with other professionals who take tax strategy and financial success seriously? Comment 'COMMUNITY' below, and we’ll help you join our exclusive Facebook group, Tax Tips for Entrepreneurs. #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

This week, I shared the top three reasons why the IRS may have sent you a corrections notice—even when everything was filed accurately. I broke down the common triggers for these notices and outlined exactly what you can do to address them efficiently and confidently. If you or someone in your network has recently received a corrections notice and you want clear, actionable steps to resolve it, this is for you. Comment 'Replay' below, and my team or I will make sure you get access to the session right away! #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

Have you ever received a notice from the IRS, even when your taxes were filed correctly? Over the last two tax filing seasons, we've noticed an increase in IRS notices and corrections, even for accurately prepared returns. After working with hundreds of successful business owners, we’ve identified the top three reasons these notices are sent—and here’s the surprising part: they’re not always accurate. Join Corrin Woodard tomorrow as she break down these common triggers and explain exactly how to handle IRS notices with confidence and ease. If you’re looking for clarity and actionable steps, don’t miss this session. ?? Wednesday, March 5, 2025 ?? 8AM EST Comment 'LIVE' to join me live, or 'Replay' to get access to the recording. I can’t wait to share this valuable insight with you! #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

Have you ever received a notice from the IRS about your income tax returns? #IRS #incometaxreturn #taxseason #taxready #business #smallbusinessowner #practiceowners #lawyers #mentalhealth #counselors #mentalhealthpoviders #firmowners #businesstaxes #taxtalk #taxhelp #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes

I thrive on helping my clients make their money go further by helping them control their tax bill. Providing financial clarity for my clients’ businesses is truly one of my passions. Seeing them set strategic goals based on solid data empowers them to focus on exactly what needs to shift for continued growth and success. It’s all about making informed decisions with confidence. If you have a clear vision of how to achieve your goals, including tax savings, then it will all come together. #2025goals #business #smallbusinessowner #lawfirms #businesstaxes #taxtalk #businessgrowth #businesstips #businessgoals #businessmindset #smallentrepreneurs #taxtips #taxtipsforentrepreneurs #AAATAX #AAAccountingandtaxes