Horizon CPAs and Advisors PLC

You’ve probably already heard the news – the previous January 1, 2025 beneficial ownership information (BOI) reporting deadline is currently on hiatus (but may come back around). What does that mean for YOU? ❗️If you already filed: Keep your BOI records handy. ❗️If you haven’t filed yet: Get your BOI reporting documents in order. ❗️And regardless: Stay in the loop. It's likely the ruling will be overturned, but the timeline for that isn't clear yet. Drop a “🤔” below if you're still confused or want to go over this topic for your business. We've got answers.

The greatest gift we can give this season is love. Let our hearts be open not to just those who are close to us, but to ALL humanity. Let us be slow to judge, quick to forgive, and show patience and empathy. Happy Holidays from our homes to yours. What special traditions make the holidays memorable for you?

What financial milestone are you most proud of this year? Don’t be shy – let’s hear about the forward steps you’ve taken in 2024.

Smart year-end tax planning is GREEN 🌱. What do I mean by that? I’m talking about the Energy Efficient Home Improvement Credit – which lets you claim up to 30% of qualified expenses for energy-efficient upgrades. There’s a $1,200 annual limit on many improvements, including: 🏠 Energy-efficient windows & doors 🌬️ Insulation upgrades ❄️ Eligible HVAC systems And if you’re in need of heat pumps, water heaters, or biomass stoves, you could snag an extra $2,000 in credits. It’s a double win for your wallet AND the planet. Have questions? DM us.

I think it’s safe to say 2024 held ups and downs for all of us – and with life situation changes come tax situation changes. In 2024, did you… 💼 Get a new job? ✏️ Go to school? 💍 Get married? 💔 Get unmarried? 👩🏻🍼 Become a parent? 🏡 Sell or buy a house? ☀️ Retire? 😢 Lose a loved one? If you answered yes, then that's something you should bring up with us ASAP so we can get your tax situation re-sorted out before 2024 wraps up. Give us a call.

Want to see the greatest amount of tax savings possible in 2025? Then stop tackling your taxes reactively. Take a proactive approach instead. Make moves right now (before the year expires) that will lower your tax bill. There’s not a lot you can do once Jan 1 arrives. You'll be thanking your future self if you spend what's left of 2024 making smart, tax-saving moves. Drop a cash 💰 💵 💸 🤑 emoji if you want to set up a time to talk about that.

The IRS is continuing to crack down on crypto reporting. So, if you've been slacking off with yours, the odds of getting audited (or even criminally investigated) could be EVEN greater in 2025. The new Form 1099-DA is their attempt at simplifying crypto reporting and getting more reliable information. I want to give you the heads-up now – you need to do everything you can to check that your crypto reporting is in order before the new form brings unwanted penalties. If you have questions, we can answer them. Drop a comment below.

You know you should be saving for retirement – but the bills are piling up, the kids need new shoes, your car needs an upgrade soon, your property taxes have increased, and… Sound like a familiar story? If so, don’t be discouraged – catching up isn’t impossible. Here's your 4-step plan to quickly build up retirement savings: 1. Maximize your 401(k) contributions 2. Open a Roth IRA 3. Make catch-up contributions 4. Take advantage of the Saver's Credit Bonus tip: Talk to a financial advisor you can trust to get you started. We can help -- DM us or give the office a call.

If you're an entrepreneur, you're inherently a risk-taker. But are you holding back to the point of stunting your growth? A few tips to help you get out of that funk: 📢 Invest in your education. The wisest entrepreneurs read about the successes/failures of others and plan accordingly. 📢 Invest in a system. Find a way to make your business scalable. Not sure how to do that? Read Michael Gerber's books (The E-Myth series). 📢 Invest in sales and marketing automation. Figure out a way to make sales online, or through other advertising media ... in a systematic, "hands-free" sort of way.

In this final month of 2024, it is a great time to look to the coming year. Take some time to write down a snapshot 📸 of where you want to be -- financially, vocationally, etc -- in the long term, and then craft a few steps you can take NOW to go in that direction. Does it feel... A) Totally doable B) Overwhelming and out of reach C) Reachable, but hard to get there