Wellspring Financial Advisors’ Post

The TJCA and its provisions is set to sunset at the end of next year may not be sunsetting after all. Planning techniques previously considered as a result of the anticipated sunset are likely to be adjusted according to individual circumstances. #FamilyOffice #TaxPlanning #WellspringWay

As a #businessowner, understanding the benefits of an S-Corporation (S-Corp) election is crucial for optimizing your tax strategy. Here are some key points to consider: - #TaxEfficiency: S-Corp is a tax election, allowing corporations to pass corporate income, losses, deductions, and credits through to shareholders, avoiding double taxation. - Informational #Returns: The business files an informational federal return (Form 1120S), but doesn't pay tax. Instead, profits/losses are passed through to owners' personal tax returns. - Employee Status for #Owners: Owners are compensated as employees, with their salaries being deductible business expenses. - #PayrollTax Benefits: Social Security and Medicare taxes are withheld from salaries and matched by the business, ensuring compliance and maximizing deductions. By electing #SCorp status, you can streamline your tax obligations and enhance your business’s financial health. Let's discuss how we can assist you in making this strategic decision.💚

Ben Gantt recently published an article in the Tallahassee Bar Association Bulletin breaking down the upcoming expiration of the Tax Cuts and Jobs Act (TCJA) in 2025. High earners and business owners, it’s crucial to act now before these significant changes take effect. Ben highlights strategies to help you stay ahead and maximize your tax efficiency. Interested in receiving a copy of the article? Reach out to Southern Wealth today to learn how we can help you navigate these changes and secure your financial future. #TaxPlanning #TCJA #WealthManagement #FinancialPlanning #SouthernWealth #TallahasseeBarAssociation #TaxStrategy

I’m a big believer in consistency when it comes to decision making at work and home. Would love to hear from folk involved in corporate and public policy and their thoughts on the inconsistent nature of our sitting government. Dr Chalmers wants to target the top 1% super holders, however he doesn’t want to adopt the same approach with negative gearing and the capital gains tax. I don’t understand why a consistent framework isn’t adopted for all fiscal matters? Why not cap negative gearing deductions or capital gains concessions by also only targeting the top 1%? Just to make it clear I’m not in favour of one side or the other, rather a consistent decision making framework. #afr #tax #publicpolicy #consistency #treasury

Let’s talk about coming tax law changes from sunsetting of TCJA #tcja #taxcutsjobsact #southernwealth

What could President Trump’s proposed tax policies mean for your finances? 🏛️ We break down key provisions from the 2017 Tax Cuts and Jobs Act—like reduced brackets, passthrough business deductions, and the SALT cap—and explore how these could shape your future financial planning. Stay informed about the potential impacts and steps to take to protect your wealth. Watch now: https://lnkd.in/gBCWQXjM #TaxStrategy #FinancialPlanning #TCJA

What could President Trump’s proposed tax policies mean for your finances? 🏛️ We break down key provisions from the 2017 Tax Cuts and Jobs Act—like reduced brackets, passthrough business deductions, and the SALT cap—and explore how these could shape your future financial planning. Stay informed about the potential impacts and steps to take to protect your wealth. Watch now: https://lnkd.in/g5DBY2VM #TaxStrategy #FinancialPlanning #TCJA

PROPOSED CHANGES TO THE CAPITAL GAIN INCLUSION RATES! Before we hear from a tax specialist on the new proposed rules, let’s set the stage: 1) What is a capital gain? 2) What are the proposed changes to the capital gain inclusion rules? (next video!) Note: This is not tax advice. I am describing my understanding in order to inform and empower individuals to obtain more specific details. Always consult a qualified tax professional with regard to your specific circumstances. #financialliteracy #financialliteracymatters #financialempowerment #womensupportingwomen #womenempowerment #financialeducation #financialwellness #financialwellbeing #financialcoach #financialcoaching #financialconcepts #financialconfidence #financialconsultant #taxliteracy #taxbasics #taxlovers #taxes #capitalgains #capitalgainstax Granite Family Office / Bureau Familial Granite

How to Keep Your S-Corp Status (and Your Tax Savings!) Congrats on making the S-Corp election! To keep those savings, here are the essentials: Stay Eligible: You must stay within IRS guidelines—only U.S. citizens & permanent residents, a single stock class, and max 100 shareholders. Hold Meetings: Have annual shareholder and director meetings, and keep documented minutes in case of an audit. Use the Business Name: For all legal and financial documents—keep personal and business activities separate. Detailed Financials: Pay yourself a “reasonable salary” and keep thorough books to ensure a smooth tax season. File on Time: March 15 is the S-Corp filing deadline. Distribute K-1s to shareholders to avoid penalties. 🔗 Follow for more tips on managing business taxes and keeping your S-Corp in compliance!

🚨 Heads up! With key provisions of the Tax Cuts and Jobs Act set to expire in 2025, now's the time to get your financial ducks in a row. 🦆 Don’t let this historic opportunity slip away—let’s plan ahead and make the most of these final years. Your future self will thank you! 💼 #TaxPlanning #2025Countdown #FinancialSavvy #PlanAhead