O'Brien, Riley, and Ryan, P.C.

Tax Season Is Here—Avoid Delays & Headaches Tax season can be stressful, but a little preparation goes a long way in avoiding last-minute hassles. https://lnkd.in/exK6fhJU Here’s how to speed up your tax processing and get your refund faster: ? Gather all your documents – W-2s, 1099s, receipts, and investment statements. ? Double-check your details – Incorrect names, Social Security numbers, or bank info can slow down processing. ? File early – The sooner you file, the sooner you get your refund (and avoid IRS backlog issues). ?? Missing the deadline? Filing late can mean costly penalties—but an extension only buys more time to file, NOT to pay. Avoid the stress and potential penalties. Let’s get your taxes filed correctly and on time!

Disaster recovery isn’t just about rebuilding—it’s about reclaiming your financial footing. If your home or property has been damaged by a sudden event like a hurricane or flood, you might be eligible for a casualty loss tax deduction. Even if your loss doesn’t meet the usual rules, exceptions could still apply—especially if you’ve had personal casualty gains. Don’t miss this opportunity to ease the financial burden. https://lnkd.in/eEbZ3Kyw Contact us today for a consultation, and let’s ensure you’re taking full advantage of the tax benefits available to you.

Thinking of Moving to Another State? Check the Tax Implications First! Remote work and retirement flexibility make moving out of state more tempting than ever. But before you pack up, consider how state taxes could impact your finances. https://lnkd.in/ecJjfqsv ? Income Tax: Some states have no personal income tax—but they might tax dividends, pensions, or Social Security. ? Property & Sales Tax: Lower income tax? You might pay higher property or sales taxes instead. ? Estate & Inheritance Tax: If legacy planning matters to you, check tax laws in your new state. Pro Tip: Avoid double taxation! Establishing domicile in your new state the right way is crucial—otherwise, two states might try to tax your income. Thinking about a move? Let’s talk tax strategy first!

Did you know your business property might be hiding tax savings? A cost segregation study could unlock these savings by reclassifying components of your property for accelerated depreciation. https://lnkd.in/eWRT5zep Here’s what you can gain: ? Reduced taxable income ? Increased cash flow ? Enhanced tax savings, thanks to recent tax law changes Whether it's reclassifying removable carpets or upgrading outdoor lighting, this strategy can make a big difference. Curious if it’s right for your business? Let’s talk!

Can I deduct my home office on my taxes? Working from home is more common than ever, but not everyone qualifies for the home office deduction. https://lnkd.in/eqfpyXCj Here’s what you need to know: ? Only self-employed individuals can claim home office expenses. If you’re an employee, the Tax Cuts and Jobs Act eliminated this deduction (at least until 2025). ? You must use the space exclusively and regularly for business—no exceptions. ? You may qualify if your home office is your principal place of business, where you meet clients, or if it’s in a separate structure (like a detached garage or studio). If you qualify, you can deduct: ? Direct costs – Painting, repairs, office furniture depreciation ? Indirect costs – A portion of mortgage interest, utilities, insurance, and more Want to maximize your tax savings while staying compliant? Let’s talk about your situation!

Future-Proof Your Business with a Valuation A business valuation is more than a number—it’s a roadmap for your company’s future. ?? Understand your company’s financial health. ?? Identify areas for growth and improvement. ?? Strengthen your borrowing position with lenders. ?? Ensure smooth transitions when the time comes to sell or pass it on. Plus, a valuation isn’t just for internal use—it can also add credibility to negotiations with buyers or investors. Don’t wait until it’s too late to know your worth. https://lnkd.in/e5UbrqQt Let’s discuss how a valuation can empower your next steps.

Love is in the air… but so is tax season! Let’s make sure your returns are as sweet as chocolate.

We get it. You're ready to move. But have you consider the tax you might have to pay on your appreciated home? It might make sense to sit tight. Here's why. https://lnkd.in/eG8C_jt8

Maximize Your Business’s Depreciation Benefits in 2024 & 2025! Smart business owners know that timing matters when it comes to tax deductions—and depreciation write-offs are no exception. ?????? Under Section 179, you can deduct up to $1.25M for qualifying assets in 2025. But don’t forget about first-year bonus depreciation, which drops to 40% in 2025 and disappears after 2026! https://lnkd.in/d7iwQbiE ?? What does this mean for you? If you’ve purchased new equipment, furniture, or vehicles, you’ll want to strategically allocate your deductions to maximize your tax savings. Even better, you might combine Sec. 179 with bonus depreciation for an even greater write-off! Need help determining the best approach? Let’s talk—tax planning today can mean big savings tomorrow.

Tax season is in full swing! The tax filing deadline for S-corporations is March 17, 2025. The tax filing deadline for individual returns and for C-corporations, it's April 15, 2025. We’re here to help make this season work for you, not against you. Feeling overwhelmed by tax season? We’ve got your back. Book a call with us today. https://lnkd.in/eAFdzci