π² Tax Tip Tuesday π²
Did you know? The solar tax credit for home improvement is NON-refundable?? π« π
πΎββοΈ That means you canβt get more back than what you owe in taxes for that year. π But donβt worry!π The unused portion of that credit can be applied against future taxes you may owe!π‘When you lower your tax debt, you make yourself eligible for a refund or a LARGER refundπ°
Example: If your energy credit is $10,000 and you owe $8,000 in federal taxes, your tax debt is wiped out ($0!) and the remaining $2,000 will lower your tax debt the next year! π€― Also your taxes being lowered to $0 allows for you to get the maximum in REFUNDABLE credits like Additional Child Tax which can be around $1700!π₯³
Going solar is not only great for your home, it's great for your finances. β¨οΈππΎ Need help understanding credits and how they directly affect you? My messenger is waiting for you to make an appointment! π²πΌ π€
Cima Business Group LLC
Specializing in business development, tax preparation, and travel assistance.
A 1095A is required for filing your taxes. If you didnt get your insurance from your company, you have one. Check the comments for how to get your copy. π€
01/07/2025
Everyone evolves. Including me. More experience, more credentials means higher prices. Many ways to pay means flexibility for you and me. Schedule is filling up. Get those books complete so your taxes can be too. Message meπ€
Questions That Need Answers π€ππΎ
Qπ€: "Can I deduct home office expenses on my taxes if I work from home?"
Aπ€: Yes, but only if your home office meets certain criteria. The space must be used exclusively and regularly for your business. If you qualify, you can deduct a portion of your rent/mortgage, utilities, and other expenses based on the square footage of your home office compared to your entire home.
π‘ Need help figuring out what qualifies? Letβs simplify your bookkeeping and maximize your deductions! Contact me today.
12/29/2024
Keeping it fresh! Getting ready!!
BOI filing required by Jan 13th.π€ Need help? Check the comments. ππΎ
Tax Refunds are Bigger this SEason! Here's why π
12/01/2024
I can help if you need. But seriously, you got this. Just don't miss the deadline! π€
11/30/2024
π° Got Tax Debt? The IRS Fresh Start Program is Your New BFF! π°
Stressed about taxes? Donβt worry, the IRS wants to help (yes, really!). With Fresh Start, you can:
β‘οΈ Pay less πΈ
β‘οΈ Pay later π
β‘οΈ Stop penalties π«
Itβs like hitting the "snooze" button on tax debt, but legally. Donβt miss your chance to start fresh in 2025!
π I can help you get the ball rolling. Your wallet will thank you!
Internal Revenue Service | An official website of the United States government Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.
11/19/2024
Filed your BOI? Hurry. Time is running out. π€
07/06/2024
Every time. Personalized service here. Up to you to take it. Message for more information.
07/06/2024
Let me give you this feeling. Message me here for consultation.
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Houston, TX