Prudent Accountants

?? What if some of your income didn’t need to be taxed at all? Most people—business owners and individuals—focus on cutting taxes through deductions. But there’s another path that’s often overlooked: ?? Tax-Free Income Strategies From renting out your home under the Augusta Rule… To tax-free growth through Roth IRAs and HSAs… To municipal bonds and more— There are smart, legal ways to earn income that’s 100% tax-free. We just published a blog that breaks it all down: ? What applies to business owners ? What applies to personal finances ? And how to start using these tools to keep more of what you earn Whether you're growing a business or building personal wealth, these strategies can make a serious impact on your financial future. ?? Read the full post here: https://zurl.co/oH2IL #TaxFreeIncome #TaxStrategy #BusinessFinance #PersonalFinanceTips #SmallBusinessOwners #WealthBuilding #FinancialPlanning #SmartMoneyMove #TaxPlanning #RothIRA #HSAStrategy #AugustaRule #Minneapolis #Minnesota #Dallas #Texas

???? Your Short-Term Rental = Your Key to Big Tax Breaks ???? Did you know your short-term rental can unlock major tax benefits? By treating it as a business and meeting the material participation test, you can claim nonpassive losses and maximize deductions on Schedule C. This could potentially save you thousands in taxes every year. ?? ?? Benefits: - Bigger deductions on property management, repairs, and more ?? - Fewer passive loss restrictions ?? - Increased ROI and tax savings ?? But be careful: profits may trigger self-employment tax. Make sure to plan ahead and stay informed. Ready to make your rental property work harder for you? Read more here: https://zurl.co/wjFJc #RealEstate #TaxStrategy #ShortTermRental #Investing #TaxBenefits #Tax #Minneapolis #Minnesota #Dallas #Texas

?? Are You Paying Too Much in Capital Gains Taxes? ?? Every year, business owners and individuals overpay on taxes simply because they’re not using Capital Loss Harvesting to offset their gains. If you’ve made profitable investments but now face a hefty tax bill, there’s a legal way to reduce it. ? Capital Loss Harvesting lets you sell underperforming assets to offset gains, lowering your taxable income. ?? Example: Jane had $100,000 in capital gains but also had $70,000 in unrealized losses. By strategically selling loss-generating assets, she reduced her taxable gain to $30,000, saving $10,500 in taxes! This strategy works for stocks, real estate, and business asset sales. ?? Don’t leave money on the table. Learn how to use this strategy before tax season. ?? Read the full blog post here: https://zurl.co/p6nNF #TaxStrategy #CapitalGains #CapitalLossHarvesting #TaxSavings #BusinessOwners #FinanceTips #SmartInvesting #Minneapolis #Minnesota #Dallas #Texas

?? Idle Land, Hidden Opportunity: A Smarter Real Estate Tax Strategy Real estate investors and developers often hold onto undeveloped land, waiting for the right time to build. But what if that idle land could be working for you right now—by reducing your tax burden? Through a strategic charitable donation, landowners can unlock substantial tax deductions, eliminate ongoing costs, and optimize their portfolios. It’s a little-known strategy that turns an underutilized asset into a financial win. Why Consider This Approach? ? Major Tax Savings – Deduct the fair market value of donated land. ? Lower Carrying Costs – Stop paying taxes and maintenance on unused property. ? Portfolio Optimization – Free up resources for new investments. ? IRS-Compliant Strategy – When structured correctly, this approach maximizes tax efficiency. If you're holding onto land with no immediate plans for development, this strategy could provide an unexpected advantage. Learn how it works: https://zurl.co/QJJN4 #RealEstateInvesting #TaxStrategy #IdleLand #TaxSavings #Tax #LandInvestment #PortfolioOptimization #CharitableGiving #PropertyTaxRelief #RealEstate #Minneapolis #Minnesota #Dallas #Texas

Real Estate’s Best-Kept Tax Secret ?? Are You Leaving Money on the Table? ?? Most real estate professionals—agencies, commercial firms, and property managers—are missing out on massive tax savings through Cost Segregation. This strategy accelerates depreciation, allowing property owners to: ? Slash taxes by reclassifying building components. ? Unlock major deductions in high-income years. ? Keep more capital for reinvestment and growth. ?? Example: A $1.5M property could qualify for $450K in accelerated deductions, leading to a $94,500 tax savings in year one. Many in real estate aren’t leveraging this strategy—are you? Read more here: https://zurl.co/4mJEq #RealEstate #CostSegregation #TaxSavings #CashFlow #PropertyManagement #CommercialRealEstate #RealEstateInvesting #Minneapolis #Minnesota #Dallas #Texas

?? Are You Overpaying on State Taxes? Read This! ?? Most business owners set up their C-Corp in their home state—without realizing they could be throwing tens (or even hundreds) of thousands of dollars away in unnecessary taxes. ???? Did you know that some states don’t tax profits at all? Instead, they use gross receipts taxes, which could save your business a fortune! ?? Example: A business making $10M in revenue: ?? Minnesota Tax Bill: $196,000 (9.8% on taxable income) ?? Texas Tax Bill: $75,000 (0.75% gross receipts tax) ? Total Savings: $121,000 PER YEAR! ?? Smart C-Corp owners are rethinking where they incorporate—and it’s saving them a fortune. But even if you’re in a tax-friendly state like Texas, there are still advanced strategies to lower your tax burden even further—from optimizing deductions to structuring compensation in a way that minimizes overall tax liability. If you’re a business owner, it’s time to rethink your tax strategy and keep more of your hard-earned profits. ?? Learn how to optimize your C-Corp taxes here ?? https://lnkd.in/gz-B8tK3 #BusinessTaxes #TaxStrategy #CCorp #TaxSavings #Finance #Entrepreneur #TaxOptimization #Minneapolis #Minnesota #Dallas #Texas

The Overlooked C Corp Tax Strategy That Saves Thousands Most C Corps focus on the 21% flat tax rate, but what if you could cut your taxable income in half—legally? The secret? Miscellaneous deductions. These often-overlooked tax breaks allow businesses to write off: ?? Fringe benefits (health insurance, HRAs, dependent care) ?? Charitable contributions (up to 10% of taxable income) ?? Educational assistance (up to $5,250 per employee) ?? Employee perks (meals, lodging, cell phones, and more) These aren’t just deductions—they’re strategic moves that help businesses save on taxes while investing in employees. Many companies leave thousands of dollars on the table simply by missing out on these tax-saving opportunities. Making small adjustments now can lead to huge financial benefits before year-end. ?? Learn more about maximizing C Corp deductions: https://lnkd.in/g33PCzUA #Taxes #TaxStrategy #CCorp #BusinessGrowth #Minneapolis #Minnesota #Dallas #Texas #TaxPlanning #SmallBusiness #FringeBenefits #CorporateTaxes #TaxDeductions

???? Your Business Vehicle Could Be a Tax Goldmine! Are You Maximizing Your Savings? Many business owners leave money on the road by not fully leveraging vehicle deductions. But did you know that the IRS offers generous tax breaks for business vehicle use? From Section 179 deductions to bonus depreciation, your car, truck, or SUV can work for you at tax time! ?? Deduct mileage or actual expenses ?? Use Section 179 to write off up to $30,500 on heavy vehicles ?? Claim bonus depreciation for even more savings ?? Lease? Your payments may be deductible too! The key? Proper tracking and smart tax planning. ???? Don't let tax benefits slip away—turn your business vehicle into a tax-saving machine! Read more in our latest blog ?? https://zurl.co/8ECSB #TaxDeductions #SmallBusiness #BusinessFinance #PrudentAccountants #TaxSavings #Minneapolis #Minnesota #Dallas #Texas

?? The Corporate Transparency Act is Back – And Your Business Might Be at Risk ?? Big changes are here: BOI reporting is now mandatory again, and the clock is ticking. FinCEN has reinstated the Corporate Transparency Act (CTA) reporting requirements—but with a new deadline of March 21, 2025. If you own a business, here’s what you need to know: ?? Existing companies must file their BOI report by March 21, 2025. ?? New businesses formed after February 20, 2025 have 30 days from formation to file. ?? Made changes to ownership or company details? You have 30 days to update your BOI report. But here’s the twist—FinCEN is now considering changes to ease the burden on small businesses. Will compliance rules get easier, or is this just the beginning of stricter regulations? We break it all down in our latest blog post. Don't wait—stay informed and protect your business. ?? Read the full update here: https://zurl.co/Flo6Y #CorporateTransparencyAct #BOIReporting #FinCEN #BusinessCompliance #SmallBusiness #CTACompliance #Regulations #Entrepreneurship #Minneapolis #Minnesota #Dallas #Texas

?? Missed Tax Deductions? You Still Have Time to Claim Them! Did you know that many individuals and businesses overpay their taxes simply because they miss deductions? The good news—you don’t have to leave that money with the IRS. If you filed a tax return in the last three years, you can amend it and claim missed deductions, potentially leading to a refund or lower tax liability. ?? Common missed deductions: ? Home office & business expenses ? HSA contributions ? Inventory & equipment write-offs ? Charitable donations & tax credits Many individuals and businesses have unclaimed deductions that could mean extra cash in their pockets. If you filed in the last 3 years, you still have time to correct mistakes and get a refund. Don’t leave money on the table! ?? Learn more: https://zurl.co/LBOvh #TaxSavings #AmendedReturns #MissedDeductions #SmallBusiness #Individuals #TaxRefunds #Finance #Minneapolis #Minnesota #Dallas #Texas