Kacy Gray, The Tax Strategist

Kacy Gray, The Tax Strategist I use smart tax planning strategies and advanced estate planning tools to deeply minimize taxes for individuals & businesses

Let me tell you a secret 🤫 Owing the IRS can be a GOOD thing.When you apply for business credit, lenders want to be sure...
01/21/2024

Let me tell you a secret 🤫

Owing the IRS can be a GOOD thing.

When you apply for business credit, lenders want to be sure you can pay back the loan. You need qualifying income.

You file your taxes and report ALL income. Take no deductions.

That means you will owe the IRS. But that's OK. Set up an installment plan and agree to a low monthly payment. (maybe $40-$50/month)

Now, the IRS tells the lender that your business made a ton of money and you now qualify for the loan. Your business now has hundreds of thousands in the bank.

Next year, take all business deductions and carry forward last year's business losses. Your business bank account is fat and you owe the IRS very little, if anything at all. 🔑

Let me tell you a secret 🤫If you're a sole proprietor or you own an LLC and you haven't hired your kids, you're paying T...
01/08/2024

Let me tell you a secret 🤫

If you're a sole proprietor or you own an LLC and you haven't hired your kids, you're paying TOO MUCH IN TAXES!

Listen. If you have your kids doing ANYTHING for your business, it's a job! So take advantage of the benefits!

You can hire your kids who are under 18, give them a job title, and pay them up to $13,850 (or the current tax year Standard Deduction) TAX FREE.

You pay NO payroll tax and this reduces your taxable income by over $13k for each child.

And the lower your taxable income ⬇️, the less tax you owe ⬇️ or the higher your tax refund ⬆️

Let me tell you a secret 🤫You can avoid paying taxes on the profit you make from selling your home.If you own your home ...
12/07/2023

Let me tell you a secret 🤫

You can avoid paying taxes on the profit you make from selling your home.

If you own your home and you've lived in that home as your primary residence for at least 2 years, then you can avoid paying taxes on up to $250k in profit if you're single or up $500k in profit if you're married and you file jointly.

This is called the Section 121 Exclusion, and you can get this tax break once every two years. Buy and sell your home and pay no taxes! 🔑

Let me tell you a secret 🤫The most important time for taxes is NOT during tax season. It's actually the rest of the year...
12/07/2023

Let me tell you a secret 🤫

The most important time for taxes is NOT during tax season. It's actually the rest of the year that matters most.

This is the time that is crucial when it comes to legally avoiding taxation. With proper tax planning, you take actions now that can save thousands come tax season.

Don't wait and expect a miracle from a tax professional. Whatever that miracle is, I can guarantee you it's not legal. Let's start doing things the right way! 🔑

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1931 NW 150th Avenue Ste 214
Pembroke Pines, FL
33028

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