Tax Geaks

Same profit. Three tax bills.

How you set up your business changes what you take home.

On $150K of profit (single owner):
→ Sole prop / LLC: SE tax on almost all of it (~$21,200)
→ S-corp: payroll tax on your salary only (~$13,800)
→ C-corp: taxed twice — 21% + dividends

An S-corp election here could save about $7,400 a year in self-employment tax. Pass-throughs also get the 20% QBI deduction; C-corps don't.

Your business is unique — the right setup depends on your numbers. Comment "ENTITY" or send us a message and we'll point you in the right direction.

General info, not tax advice.

Miss an IRS deadline? 💸 Penalties and interest add up fast. Here’s how the IRS calculates them—without the confusion.

Understanding IRS Penalties and Interest Calculations Explained When you owe taxes to the IRS and miss a deadline, penalties and interest charges can quickly add up. Many taxpayers find these extra costs confusing and frustrating. Knowing how the IRS calculates penalties and interest can help you avoid surprises and manage your tax obligations better. This post....

For tax years 2025 through 2028, individuals may be able to deduct interest paid on certain loans used to purchase qualified, personal-use vehicles assembled in the United States.

The deduction is limited to interest only, applies to new vehicle purchases, and is subject to income phase-outs. Lease payments and business-use vehicles do not qualify.

As with many tax law changes, eligibility depends on meeting specific requirements, and the details matter.

💡 Tax Tips for 2025! 💡

Get ahead this tax season and maximize your refund with these expert tips:
✅ Max Out Contributions: Add to your IRA, HSA, or SEP IRA before deadlines.
✅ Avoid Penalties: Stay on top of estimated tax payments.
✅ Self-Employed? Track all your business expenses carefully.
✅ Double-Check Your W-2: Ensure accuracy to avoid surprises.

💼 Tax season doesn’t have to be complicated. Let us help!

📅 Schedule a call today: https://calendly.com/taxgeaks

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📅 Schedule a call with the Tax Geaks today and mark the first step towards stress-free tax management. Your peace of mind is just a click away. https://calendly.com/taxgeaks

📅 Schedule a call with the Tax Geaks today and mark the first step towards stress-free tax management. Your peace of mind is just a click away. https://calendly.com/taxgeaks