Advanced Tax Solutions, LLC

Do you consider yourself a spender or a saver?

What money habit do you need to break?

Will you end up in the “likely to get audited” category in 2025? The IRS’s prime targets (based on 2024 numbers) are high-income earners, business owners, and those dealing with complex finances. But the IRS is also trying to uncover broader financial wrongdoing – and they’ve got their eye on areas like cryptocurrency transactions, offshore accounts, and fraudulent business practices. If you find yourself one of the IRS’s most-wanted, don’t panic. We’ve got your back. We can help spot the audit triggers in your current situation, and help you make a plan to lower your risk. Do your finances have any audit-worthy red flags?

Here’s a big point of confusion that we see a lot of our clients struggle with: Tax strategy does NOT start during tax season. If you’re just now thinking about making tax-smart moves, we’ve got some not-great news: That ship sailed without you – LAST tax season. Yes, there are some moves you can make right now to make the most of tax season, like filing as soon as possible, and letting us find credits and deductions for you. These are good steps in the right direction. But they’re small. If you want to take BIG strides? Let us help you make a long-term plan of tax-smart steps you can take year-round. It’ll mean more savings, less surprises, and less chance of IRS trouble this time next year. Is your tax mindset more short-term or long-term?

If we could wave a magic wand and fix one thing about your finances, what would it be?

Filing your taxes can feel like walking a tightrope ... one (unintentionally) wrong move, and you’re in trouble. But you can breathe easy: You’ve got a safety net underneath you. We’re here to catch you if you find yourself in trouble with the IRS. In case the worst happens, you’ve got support you can trust. What about your tax situation is currently keeping you up at night?

Excuses that DON’T count for failing to file and pay your taxes: 1. My dog ate my documentation. 2. I wasn’t feeling well…every day of tax season. 3. I thought the deadlines didn’t matter because of the IRS layoffs and budget cuts. 4. I heard the IRS is going kaput, so I thought I was off the hook. Yes, there’s lots of IRS buzz happening in Washington right now. But so far, tax deadlines are still on schedule. Which means you need to STICK TO that schedule. And no matter what talk there’s been about nixing the IRS (which is JUST a proposal right now) – you need to file your taxes this year. Because failing to file/pay comes with significant costs. Don’t let your financial wellbeing get hijacked by what-if scenarios. Practice good tax strategy, and let the IRS chips fall where they may. Let’s get your taxes taken care of, on time, together.

The home office deduction could mean a bigger refund for you this tax season, IF you’re self-employed. Catch that? You (unfortunately) can’t claim it if you’re just a work-from-home employee. But if you DO qualify, here are 3 things you need to know… ??Your office must be regularly and exclusively used for business. ??Your office must be your principal place of business. ???You can also deduct expenses like printers, monitors, furniture, and more. We can help you with the nitty-gritty of claiming this deduction at your filing appointment, so make sure to grab a spot on our schedule soon. Does working from home help or hurt your work flow efficiency?

Solopreneurs and small businesses: Because of the difference between payroll tax and what tax an independent contractor is expected to pay, you need to clearly lay out how you hire for short-term work. (This is to avoid your being penalized later if the IRS thinks they acted more like an employee than a contractor.) A good starting point? Draw up an actual "Independent Contractor Agreement" to make everything clear. Be sure they file Form 1099 with the government, and be ABSOLUTELY sure you tell the IRS what you paid them. We know dealing with independent contractor taxes can be a pain. But getting that extra help for your business is well worth it. How has hiring independent contractors impacted YOUR business?

True or false? "The one thing that unites all human beings, regardless of age, gender, religion or ethnic background, is that we all believe we are above-average drivers." - Dave Barry