Advantage Business Solutions LLC

12/10/2025

Quick Year-End Checklist

• Maximize Retirement Contributions: Reduce your taxable income by contributing to an IRA or 401(k).
o IRA limit: $7,500 ($8,500 if 50+)
o 401(k) limit: $23,000 ($30,500 with catch-up)

• Max Out Your HSA: HSA contributions are tax-deductible, grow tax-free, and can be used tax-free for medical expenses.
o Individual: $4,300 | Family: $8,550 | Catch-up: $1,000

• Review Standard vs. Itemized Deductions: Choose the option that reduces your taxable income the most. Bundling charitable or medical expenses into one year can help you maximize deductions.

• Contribute to a 529 Plan: Up to $18,000 per beneficiary can be contributed in 2025 without triggering gift-tax reporting. Earnings grow tax-free for qualified education expenses.

• Verify Required Minimum Distributions (RMDs): If you turned 73 this year, make sure RMDs are taken. Missing one can trigger a 25% IRS penalty, so reviewing this before year-end is critical.

• Record All Business Tax Deductions: Deductible expenses may include mileage (70¢ per mile), software, payroll, business meals, travel, advertising, rent, utilities, and more.

• Check Your Estimated Tax Payments: Q4 estimated taxes are due January 15, 2026. Reviewing your numbers now helps avoid underpayment penalties.

• Organize Key Tax Documents: W-2s, 1099s, receipts, bank statements, charitable confirmations, and investment summaries should all be collected and stored for filing season

If you need help with any of these things, give us a call.☎️

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10/16/2025

07/07/2025

💡 Did You Know?

Under the new U.S. bill, only the first $25,000 in tips will be exempt from income taxes— but tipped workers will still owe 7.65% for Social Security and Medicare on all their tips.

For many, this isn’t the big break it seems. More than one-third of tipped workers — like restaurant servers, bartenders, and students working part-time — already don’t earn enough to owe federal income taxes. Many have kids, are in school, or rely on tips just to make ends meet.

So while this bill sounds helpful, the reality is that low-income tipped workers will still see very little relief — and continue paying payroll taxes on every dollar they earn.

👉 If you work for tips, what do you think? Does this help you at all?

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05/16/2025

The right people in your corner can change your destiny. 😊

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05/01/2025

HELLO MAY!😃

As we step into a new month, it's the perfect time to get your finances in order and set fresh goals. Whether you're a small business owner or a freelancer, keeping your books up to date is key to staying on track.

✅ Need help organizing receipts?
✅ Unsure about your profit & loss?
✅ Dreading tax time already?

Let us take the stress out of your bookkeeping so you can focus on growing your business. 💼📊

📞 Message us today to schedule your free consultation!

04/15/2025

📣 **Important Tax Update for Tennesseans** 📣

Due to the **severe storms, tornadoes, and flooding** that hit Tennessee in early April, the **IRS has extended the tax filing deadline** for *all Tennesseans*.

🗓️ **New deadline: November 3, 2025**

This extension applies to both **individuals and businesses** across the state.

In addition, if your area was part of a **federally declared disaster zone**, you may be eligible to **claim disaster-related losses** on either your:

🔹 **2024 tax return** (filed in 2025)
🔹 **OR** your **2025 tax return** (filed in 2026)

👉 You’ll have until **October 15, 2025**, to decide which year you want to claim the loss on.

Please take care of yourselves and your loved ones, and don’t hesitate to seek help if you’ve been affected. 💛

📌 More info: [irs.gov](https://www.irs.gov)

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04/10/2025

🎯 **On a Tax Extension? Still Playing Hide-and-Seek with Your Bookkeeping?** 👀📚

We see you… 👋 Still on extension and *promising* yourself you’ll get those books done “soon”?
Well, guess what — “soon” is now! 😅

Let us help you stop the scroll and start checking those numbers ✅

✨ We’ll:
🧹 Clean up your books
🧾 Get you tax-ready
🙌 Take the stress off your plate

Slide into our DMs or give us a shout — we’ll help you turn that extension into a win!

04/02/2025

Had an amazing meeting with Money Coach Jessica today! 🙌💰 If you're looking to take control of your finances and create a plan that’s tailored just for YOU, Jessica is the one to talk to. She offers customized financial coaching that really helps you understand and manage your money in a way that works for your unique situation. Highly recommend reaching out if you want to get serious about your financial future! 💡

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03/28/2025

Did you know that your Tennessee Secretary of State Annual Report is due April 1st? If you aren't familiar with this, give us a call and we can help! You still have a couple of days left to get it submitted at the Secretary of State website.

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03/25/2025

We love all our clients!

★★★★★ "Margie and Cindy have handled my businesses' bookkeeping needs with professionalism, and are always quick to respond to any questions, and always kind. I highly recommend using them for your business needs."

03/21/2025

Had a great time networking with amazing people at Small Business Matters in Karns this past Wednesday! 🤝 Special shoutout to Paul from Panoramic Video & Drone for the insightful conversation. It’s always inspiring to connect with fellow entrepreneurs and learn from each other. Looking forward to more opportunities like this!

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