Keep What You Earn Break the Cycle: Three Ways to Reduce What You Owe in April
If you feel like you're in an endless cycle of owing taxes year after year, and you dread getting your tax return back, or you wish that you could reduce the amount that you have to pay every April so that you can stop stressing out, this one is for you!
I'm going to share three ways that you can stop owing taxes. We all have to pay our taxes of course, but let's dive in to the three ways to reduce your April tax burden. The major theme here centers on getting proactive. I know that's probably the last thing you want to hear, but it's not as hard as you think. Tune in to reduce how much you owe at tax time, every single year.
What you'll hear in this episode:
[1:50] Set aside 20 to 25% of your income for taxes.
[4:20] How do you know when and what to pay?
[8:35] When should you talk to your tax professional?
[10:10] You can find out what you're going to owe much sooner than you think.
[12:40] If you do even one of these three things you'll be setting yourself up for success.
* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon
* Related episodes:
228. Setting and Measuring Progress Toward Your Business Goals
234. The Best Ways to Customize Your QuickBooks
236. How to Know if Your Overhead is Too Large
* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/
* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa
* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so
* Hire us: https://www.fitnancialsolutions.com/accounting
* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator
* Find me on IG @shannonkweinstein
* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.