Gary Tannenbaum CPA LLC

"Success usually comes to those who are too busy to be looking for it."

Reminder: Make Estimated Tax Payments: If you're self-employed or have significant investment income, paying quarterly estimated taxes can help you avoid penalties and large tax bills.

Track Business Expenses Carefully: Keep detailed records of all legitimate business expenses, including software, marketing, travel, office supplies, and professional services.

Tax Planning Isn't Just for Tax Season: Effective tax planning happens throughout the year, not just when it's time to file your return. Small decisions made today can have a significant impact on your future tax liability.

Retirement Income Can Affect Your Taxes: Different retirement income sources are taxed differently. Understanding how Social Security, IRAs, 401(k)s, pensions, and investments work together can help create a more tax-efficient retirement strategy.

"Sunshine is the best medicine."

Self-employed workers need to account for F**A taxes. In addition to your income taxes, remember to also account for your Social Security and Medicare taxes. Creating and funding a savings account for this purpose can help avoid a possible cash flow hit each quarter when you pay your estimated taxes.

An LLC is a corporate structure where members cannot be held accountable for the company’s debts or liabilities. This can shield business owners from losing their entire life savings if, for example, someone were to sue the company.

Wellness 101: Pursuing hobbies, learning new skills, or volunteering can provide a sense of accomplishment and cognitive stimulation.

A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.