Privileged Planning Inc

Do you know the difference between a tax credit and a tax deduction? ?? For What’s That Wednesday, let’s break it down—because understanding this could help you significantly during tax season! ?? A tax deduction reduces how much of your income is taxable. Think of it like a discount on your taxable income. For example, if you made $100K and have $20K in deductions, you’re only taxed on $80K. The catch? How much you actually save depends on your tax bracket. A tax credit, on the other hand, is way more powerful because it directly lowers your tax bill dollar for dollar. If you owe $3K in taxes and have a $2K tax credit, your bill drops to just $1K—simple as that. Some credits, like the Child Tax Credit, are even refundable, meaning if the credit is larger than what you owe, you might get money back. So, which one is better? Both! Here’s the key takeaway: Don’t leave money on the table! Work with a qualified tax professional or use reliable tax software to make sure you’re claiming everything you’re eligible for. When it comes to taxes, the more you know, the more you keep. ?? So, are you taking full advantage of your deductions and credits? #WhatsThatWednesday?#TaxCredits?#TaxDeductions?#MoneyTips?#TaxSeason?#SmartMoneyMove This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

#MondayMotivation ?? Small habits = BIG impact. ? Swap social media scrolling for quality sleep to recharge your body & mind. ??? Choose home-cooked meals over takeout to fuel your health. ?? Surround yourself with mentors & uplifting people—ditch toxic friendships. ??♂? Move your body instead of sitting in front of screens all day. ?? Shift from complaining to gratitude & watch your mindset transform. ?? Own your actions—responsibility leads to growth. Your habits shape your future. Prioritize your well-being, and success will follow. ???? What’s one habit you’re replacing this week? Drop it in the comments! ?? #HealthyHabits #MindsetMatters #SuccessStartsWithin

?? Your 30s Are the Wealth-Building Decade—Are You Making the Right Moves? By the time you hit your 30s, you’ve likely realized that financial success isn’t just about earning more—it’s about being strategic with what you have. Whether you’re paying off debt, saving for your first home, or looking to grow your investments, the decisions you make now will determine your financial future. In our latest LinkedIn Newsletter, we break down the essential steps to building wealth in your 30s, from eliminating debt and maximizing investments to avoiding lifestyle creep and setting yourself up for financial freedom. ?? Key insights you don’t want to miss: ? How to get out of debt—for good ? The one investment move that can make you a millionaire ? Why budgeting = financial freedom, not restriction ? The smartest way to plan for your kids’ future (without sacrificing your own) ? How to pay off your mortgage early and build lasting wealth ?? Your 30s are your chance to take control—don’t waste it. What’s the #1 financial move you’re focusing on this year? Drop a comment below! ?? ?#WealthBuilding?#FinancialFreedom?#SaveMoney This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.4d

Do you have an LLC and heard of an S Corp? ?Well, for?What’s That Wednesday, let’s break it down! An?S Corp?is a business structure that helps owners avoid?double taxation?by passing income directly to shareholders. Unlike a regular LLC, it can offer?self-employment tax savings, making it a popular choice for growing businesses. But, it comes with strict?IRS rules, like a 100-shareholder limit and only one class of stock. Thinking about switching to an S Corp? #WhatsThatWednesday #SCorp #LLC #TaxSavings #BusinessGrowth This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? Think it’s too late to start investing? Think again! Whether you’re in your 40s, 50s, or beyond, building wealth is still possible—you just need the right strategy. From dividend stocks and real estate to tax-advantaged accounts and diversification, there are countless ways to make your money work for you. Start today, because the best time to invest was yesterday. The second-best time is now! ???? #InvestSmart?#NeverTooLate?#WealthBuilding?#RetirementPlanning?#FinancialFreedom This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? Money & Dating: 4 Red Flags You Shouldn’t Ignore! ?? When it comes to relationships, money matters more than you think—and ignoring financial red flags could cost you way more than just dollars. ?? Here are 4 financial warning signs to watch out for: 1?? They avoid talking about money—EVER. Transparency is key! 2?? Your values don’t align—if you hate debt, but they live on credit, it may cause major issues. 3?? They’re an extreme spender or saver—balance is crucial in a partnership. 4?? They aren’t generous—money reveals priorities and values. ?? Money fights are a top cause of divorce. Don’t wait until it’s too late—have the money talks early! Drop a ?? if you agree! What financial red flags have you seen in dating? ?? #MoneyMatters?#DatingRedFlags?#FinancialFreedom?#Relationships?#SmartMoney This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? Scaling isn’t just about growing—it’s about growing smart. Many businesses expand too fast without the right systems, leadership, or team alignment in place. The result? Burnout, cash flow issues, and inefficiencies that hold you back instead of pushing you forward. If you're serious about scaling your business the right way, our latest LinkedIn Newsletter breaks down: ? The difference between growth vs. scaling (hint: scaling = sustainable) ? How to know if your business is ready to scale ? The three essentials for successful, profitable scaling ? How to build a leadership team that drives long-term success Don’t just grow—scale with intention. Read the full breakdown and take your business to the next level! ?? Drop a comment with your biggest challenge in scaling—we’d love to hear from you! ?? #ScalingBusiness #BusinessGrowth #Entrepreneurship #Leadership #SmartScaling #StrategicPlanning This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? How $120 a Month Can Make You a Millionaire ?? Most people think building wealth requires massive income—but the real key? Consistency & time. If you cut just $120 a month (think skipping a few takeout meals or daily coffee runs) and invest it instead, here’s what happens: ?? $120/month invested for 45 years at 10% = $1 MILLION ?? $200/month = $1.7 MILLION That’s generational wealth from small daily choices! The secret? Start early. Let compound interest do the heavy lifting. The money is already in your budget—you just have to redirect it. ?? Would you make small sacrifices today for financial freedom tomorrow? Let’s discuss! ?? #WealthBuilding?#InvestingMadeSimple?#FinancialFreedom?#CompoundInterest?#RetirementPlanning?#MoneyMoves?#SmartMoney This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? Your budget might be getting eaten alive! ?? Did you know the average cost of eating out could derail your financial goals faster than you realize? The good news: prepping meals at home can save you hundreds of dollars every month without sacrificing convenience. ?? Try meal delivery kits, pick up ready-to-cook items from the grocery store, or plan meals with your family on weekends. Not only does it save money, but it also helps you stick to that healthy eating plan you started earlier this year. ?? A little planning today can lead to big savings tomorrow! #budgeting?#daveramsey?#debtfreecommunity This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.

?? Assets vs. Liabilities – What’s the Difference? ?? Understanding assets and liabilities is key to making smart financial decisions in business. ?? ?? Assets = What your business owns (cash, property, inventory) ?? ?? Liabilities = What your business owes (loans, debts, unpaid invoices) ?? The goal? Grow your assets while managing your liabilities wisely! A strong balance sheet = a strong business. ?? Tag a fellow entrepreneur who needs this breakdown! ?? #BusinessFinance?#EntrepreneurTips?#FinancialFreedom?#MoneyMatters?#SmallBusinessGrowth This content is for educational purposes only. Investing involves risks, and examples shared are based on average past returns, which do not guarantee future outcomes. Always conduct your own research and consult a professional for personalized advice. This is not intended as investment, specific recommendations, or legal advice.