R&R Bookkeeping & Tax Consulting

Empresarios como yo siempre tenemos que estar informados. Seminarios como este nos pueden ayudar a estar siempre preparados. Gracias por la oportunidad!

Happy new year 🎈🎆🎊
May this year be the best that it can be!
Manny blessings!

Have you ever seen a TikTok about how forming an S corporation can save you money on taxes? 🤑
This can be TRUE for certain taxpayers, but it's not a one-size-fits-all solution! 🚫
For some taxpayers, the time and money you'll need to spend on administrative requirements might not make an S corp worth your time.
Here are some questions to ask your tax accountant when considering an S corp election:
👉 How much money could switching to an S corporation save me in taxes?
👉 Can you give me advice on a payroll system and a reasonable salary?
👉 Do I need to set up an accountable plan?
👉 What additional reporting/filing requirements will I have with an S corp?
Work with a tax professional who will consider ALL scenarios to find the entity type that works best for your business!

Ready to turn your tax return into a new home? 🏡💰 Discover how you can make your dreams a reality with our expert tips and tricks. Head over to our website and start planning your house hunt today! ✨✨

Behind on tax filings and trying to buy soon? I can help you catch up! 👋

Hiring a high schooler this summer could help your business qualify for the Work Opportunity Tax Credit, here's how! ⤵️

If you hire a youth summer employee who:

→ Is at least 16 years old, but under 18 on the hiring date or on May 1, whichever is later
→ Only performs services for the employer between May 1 and September 15 (was not employed prior to May 1) and
→ Resides in an Empowerment Zone (EZ)

You may be eligible for the Work Opportunity Tax Credit!

Have WOTC questions? I've got answers - let's connect!

MYTH: Tax planning is reserved for the ultra-wealthy!

TRUTH: If you pay taxes, you can benefit from tax planning.

Hear me out! While everyone on the first page needs to be working with a tax accountant, everyone on the second slide can benefit from a tax planning session too.

Whether you're saving for a child's college fund, selling your home, working as an independent contractor, or funding a retirement account, tax planning can help!

STOP SCROLLING! 🖐️

Take this opportunity to check in on your business goals as we enter Q3:

1️⃣ Are you more than/less than/or exactly halfway towards meeting your goals?

2️⃣ What actions can you take over the next three months to further your progress towards your goals?

3️⃣ What parts of your business are currently holding you back from achieving your goals?

It sounds simple, but answering these three questions and deciding to take action TODAY could be the difference between achieving your goals and not!

Wondering if a certain type of income is taxable? In most cases, the answer is YES.

When income is being generated, the government is usually going to find a way to collect their tax.

⬇️ But, here are some of the rare examples of nontaxable income:

💰 Municipal Bond Interest 💰

Generally, interest paid out by a municipal bond is nontaxable income at a federal level. However, this income may be taxable at a state level!

💰 Inheritance Income 💰

Inheritance income is generally not taxable income at the federal level, however, income generated by assets AFTER inheritance can result in taxable income. Some states will assess an inheritance tax!

💰 Gift Income 💰

For gifts under $18,000 in 2024, there is no gift tax!

Consult with your tax accountant to determine whether you've received any nontaxable income and whether there are any additional reporting requirements.

Hey, it’s Raquel! I’m the owner of R&R Bookkeeping & Tax Consulting.

While I believe the best solution is to have a professional bookkeeper reconcile your bank accounts, I recognize that isn’t always the reality for a lot of business owners.

If you’re wondering how to conduct a basic account reconciliation and troubleshoot frustrating errors, keep reading!

Happy Father’s Day to all the heroes 🦸. Enjoying a nice lunch with the men in my life.

Did you know you don't actually *have* to use the default Chart of Accounts from your bookkeeping software?

The more customized your chart of accounts is, the more customized financial reporting you can do! 📊

Imagine knowing exactly which product or service is your most profitable!

For my clients, useful metrics like these help them make the decisions they need to run their businesses! 🔢

📱 832-609-6903
🖲 4001 Walker St Houston, TX 77023
📨 [email protected]
🖥 www.randrconsulting.org
🕰 calendly.com/randrconsulting