Gelt

During last week's webinar with the Growthitect, Rachel Richards, CPA shared some tips with firm owners about business expenses you can deduct. Check out the video for more and send us a message to get started on a tailored tax strategy for your business.

?? Are you leaving money on the table? When James, a successful consultant, joined us, he was earning $350,000 a year—but his tax strategy wasn’t working as hard as he was. After optimizing his salary, deductions, and retirement contributions, and leveraging California's PTET, we helped him save $30,000 while staying fully compliant. Want to see how we did it? Check out the full story here below If you’re ready to optimize your tax strategy and keep more of what you earn, let’s talk. Contact Gelt today—we’d love to help you too! ???? https://lnkd.in/e5czv3dk #TaxPlanning #TaxSavings #FinancialSuccess #Entrepreneurship #ConsultantLife #GeltGelt

?? Happening Tomorrow! ?? ?? We’re excited to be working with Growthitect to support architecture firm owners—and business owners everywhere—with proactive tax strategies through our upcoming webinar! Join us tomorrow, for Your Last-Minute Tax Strategy Guide for 2024 to uncover essential year-end tax moves that keep more money in your business and prepare you for a strong year ahead. ??? Date: November 13 ? Time: 10 AM PST / 1 PM EST ??? Featuring: Gelt’s Spencer Carroll, CPA & Rachel Richards, CPA with Tyler Suomala creator of Growthitect Don’t miss this opportunity to get ahead! Register Here (only a few more spots left) - https://lu.ma/3mvlhm9g

Honoring Veterans: Today and Every Day ???? At Gelt, we pause this Veterans Day to honor the brave men and women who have served and sacrificed for our country. Their dedication and resilience inspire us daily, reminding us of the importance of commitment, teamwork, and integrity—values that drive us at Gelt. We extend our gratitude to veterans everywhere and to the military families who support them. Thank you for your service and for safeguarding the freedoms we cherish. #VeteransDay #HonoringOurHeroes #GeltCares

Curious about how high-income professionals can turn rental properties into powerful tax-saving tools? Check out Michelle and Zach’s story When they came to us with a combined W-2 income and additional earnings from an Airbnb, we spotted a unique opportunity to transform their rental into a serious tax advantage. Want us to craft a tailored strategy for you? Reach out by filling out this form - https://lnkd.in/e5czv3dk

?? I posted a couple weeks back about how wealthy people use real estate to save on taxes... Here's that post: ?? https://lnkd.in/ebDqXyEG ?? I wish it was as easy as buying a property, then poof ?? taxes gone. But it's not. Especially if you want to maximize the tax benefits. There are a couple more steps in the process, give or take, and one of those could be a cost segregation study. What in the world is a cost segregation study, and how does it help my taxes? ?? The study breaks down the cost of your property into its different component parts. Still kind of confusing, right? Why does that matter? Because real estate is normally depreciated evenly over its useful life. 27.5 years for residential property 39 years for commercial Cost segregation breaks down some of the cost of your real estate into 5, 7, and 15 year useful lives. ?? That results in more depreciation in the early years of ownership, more loss to report on your taxes, and more tax savings for you. ?? Again, this likely isn't the last step for most. Unless you have a lot of passive income, you need your real estate income/loss to be considered "active". More on that in another post. Now, a CPA likely won't prepare a cost segregation study for you. That's typically done by an engineering firm. But it's important to work with a CPA that's at least aware of these strategies, and how they could help you. This is what we do Gelt. https://lnkd.in/epJJds8k #realestate #tax #taxstrategy #taxplanning #realestateinvesting

???? Election Day is Here: How the Vote Could Shape the Future of US Taxes ???? Today, Americans head to the polls to cast their votes on leaders and policies that will shape our country’s future – including potential changes to the U.S. tax landscape. The tax proposals on the table show two distinct visions, each with potential impacts on individuals and businesses alike. What Could These Plans Mean for You? We’ve broken down the key tax positions of each candidate and how they might impact high-income earners, businesses, and families in the years ahead: ?? Trump's Plan: Aims to extend the Tax Cuts and Jobs Act, focusing on low taxes for income, capital gains, and businesses. It emphasizes domestic manufacturing and protectionist policies, which could bring higher costs for some import-reliant industries. ?? Harris's Plan: Proposes increasing taxes on wealthy individuals and large corporations to fund expanded social programs, with tax relief aimed at middle- and low-income families through enhanced deductions and credits. The Bottom Line Each plan comes with its own set of opportunities and challenges. However, it’s important to note that any proposed tax changes will still require approval by the Senate and House before becoming law – a process that often leads to modifications. As always, Gelt is here to help you navigate these changes with confidence and maximize your financial opportunities, regardless of the election outcome. ??? Ready to talk tax strategy? Contact us to start planning ahead. #ElectionDay #TaxPlanning #FinancialFuture #Gelt

?? This Tax Season’s Done, But the Real Scare's Just Begun! ?? The goblins are out and the ghosts roam free, But a tax surprise? Now that’s spooky to see! ?? At Gelt, we keep your fright to a low, With strategies sharp as a vampire’s glow. ??♂? From missed deductions to planning ahead, We’ll make sure those tax fears stay dead. So enjoy the treats and dodge the tricks, With Gelt by your side, no haunting tax fix! ?? Ready to take the scare out of your tax prep? Let’s talk. #HappyHalloween #TaxPlanning #YearEndPlanning #NoMoreTaxSurprises #Gelt

At Gelt, we believe real stories make a real impact ??. That’s why we’re sharing the journeys of our clients who have transformed their tax situations with our help. From venture fund partners to small business owners, each story highlights unique challenges and the tailored solutions that bring simplicity and savings into their lives. We'll start with David and Anna. ?? High-level finance and 150+ K-1s? Tax season was overwhelming for David, a venture partner and angel investor navigating multiple investments. When he and his wife Anna joined Gelt, we tackled their complex financial landscape with a streamlined, efficient approach that now saves them $45,000 annually. Read the full story below and reach out to learn how we can help you too - https://lnkd.in/e5czv3dk *The stories are real, the names were changed for privacy.

?? Simplify Your Retirement Planning! ?? Navigating retirement plans can be overwhelming, but choosing the right one is a crucial step toward financial security. This article breaks down the most common retirement plans so you can make the best choice based on your needs and goals. ?? Whether you're an employee with a 401(k) match, a self-employed business owner considering a Solo 401(k), or someone weighing Traditional vs. Roth IRA benefits, read on for more details. ?? Need help choosing the best retirement plan for you from a tax perspective? Gelt can help - schedule a call to find out more https://lnkd.in/e5czv3dk #FinancialGoals #Investment #RetirementPlanning #FinancialFuture #TaxStrategy #WealthManagement #IRAs #401k #BusinessOwners #TaxEfficiency