Merritt Financial Services

If you made 6+ figures this year, read this before you file your taxes…

One of the biggest mistakes I see high earners make every year is rushing to file before the deadline.

And it’s costing them thousands.

𝐇𝐄𝐑𝐄’𝐒 𝐖𝐇𝐘:
👉🏼 Filing too quickly instead of exploring better options
👉🏼 Missing key deductions and last-minute tax strategies
👉🏼 Treating tax filing like a task—not a wealth strategy

𝐓𝐇𝐄 𝐓𝐑𝐔𝐓𝐇 𝐈𝐒…
✅ Smart business owners and investors don’t just “file taxes.”
✅ They use this time to legally reduce what they owe and protect their income.

I recently worked with a client who was ready to file—but after a quick review, we uncovered opportunities that 𝐬𝐚𝐯𝐞𝐝 𝐭𝐡𝐞𝐦 𝐨𝐯𝐞𝐫 $𝟕𝟎,𝟎𝟎𝟎.

𝘖𝘯𝘤𝘦 𝘺𝘰𝘶 𝘧𝘪𝘭𝘦, 𝘮𝘢𝘯𝘺 𝘰𝘧 𝘵𝘩𝘰𝘴𝘦 𝘰𝘱𝘱𝘰𝘳𝘵𝘶𝘯𝘪𝘵𝘪𝘦𝘴 𝘢𝘳𝘦 𝘨𝘰𝘯𝘦.

This is why you may want to pause before submitting. If there are still opportunities to keep more of your hard-earned income, filing an extension could give you the time to do it the right way.

If you’re a business owner, investor, or high-income earner and want a second set of eyes before you file:

📌 Comment “𝐑𝐄𝐕𝐈𝐄𝐖” or send me a DM.

I’m offering a limited number of last-minute tax reviews.

✨ 𝐃𝐨𝐧’𝐭 𝐫𝐮𝐬𝐡 𝐭𝐡𝐞 𝐩𝐫𝐨𝐜𝐞𝐬𝐬—𝐛𝐞 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜.✨

🚨 If you made 6+ figures this year, read this before you file your taxes…

One of the biggest mistakes I see high earners make every year is rushing to file before the deadline.

And it’s costing them thousands.

Here’s why:
❌ Filing too quickly instead of exploring better options
❌ Missing key deductions and last-minute tax strategies
❌ Treating tax filing like a task—not a wealth strategy

The truth is…

Smart business owners and investors don’t just “file taxes.”

They use this time to legally reduce what they owe and protect their income.

I recently worked with a client who was ready to file—
but after a quick review, we uncovered opportunities that saved them over $70,000.

⚠️ Once you file, many of those opportunities are gone.
This is why you may want to pause before submitting.
If there are still opportunities to keep more of your hard-earned income, filing an extension could give you the time to do it the right way.

If you’re a business owner, investor, or high-income earner and want a second set of eyes before you file:
👉 Comment “REVIEW” or send me a DM
👉 I’m offering a limited number of last-minute tax reviews

Don’t rush the process—be strategic.

⏰ 𝐓𝐡𝐞 𝐀𝐩𝐫𝐢𝐥 𝟏𝟓𝐭𝐡 𝐓𝐚𝐱 𝐅𝐢𝐥𝐢𝐧𝐠 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐈𝐬 𝐀𝐥𝐦𝐨𝐬𝐭 𝐇𝐞𝐫𝐞!

If you’re an individual, LLC owner, or run a corporation, the tax deadline is right around the corner.

Now is the time to make sure you’re taking advantage of every opportunity to reduce your tax liability.

👇🏼 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝟑 𝐥𝐚𝐬𝐭-𝐦𝐢𝐧𝐮𝐭𝐞 𝐭𝐚𝐱 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐭𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫:

𝟏. 𝐎𝐕𝐄𝐑𝐓𝐈𝐌𝐄 𝐈𝐍𝐂𝐎𝐌𝐄 𝐓𝐀𝐗 𝐁𝐑𝐄𝐀𝐊𝐒
The Big Beautiful Tax Bill introduced new tax relief for overtime earners! 🎉
If you earned overtime, you may be able to deduct up to $12,500 (for single filers) from your taxable income—meaning you could pay less in taxes overall.
For other filing statuses, like married filing jointly, the deduction amount is even higher, allowing you to offset even more of that extra income.
In some cases, this may also apply as a refundable tax credit, meaning you could receive money back—even if you don’t owe taxes.

𝟐. 𝐀𝐃𝐃𝐈𝐓𝐈𝐎𝐍𝐀𝐋 𝐃𝐄𝐃𝐔𝐂𝐓𝐈𝐎𝐍 𝐅𝐎𝐑 𝐒𝐄𝐍𝐈𝐎𝐑𝐒
If you’re age 65 or older, you may qualify for an additional standard deduction of up to $6,000 (depending on your filing status).
This is a direct reduction to your taxable income, helping you lower what you owe and keep more money in your pocket—especially valuable for those on retirement or fixed income.

𝟑. 𝐁𝐎𝐍𝐔𝐒 𝐃𝐄𝐏𝐑𝐄𝐂𝐈𝐀𝐓𝐈𝐎𝐍 𝐅𝐎𝐑 𝐋𝐋𝐂 𝐎𝐖𝐍𝐄𝐑𝐒
If you’ve invested in equipment, vehicles, or other business assets, you may be eligible for bonus depreciation.
This allows you to write off a large portion—or even 100%—of qualifying purchases in the same year, instead of spreading it out over time. A powerful way to significantly reduce your business income and tax bill.

Need help filing your taxes or figuring out your next steps? Let’s make it simple.

👇🏼 See comment section to book a FREE 15 minute consultation.

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬—𝐘𝐨𝐮 𝐇𝐚𝐯𝐞 𝟗 𝐃𝐚𝐲𝐬 𝐋𝐞𝐟𝐭 𝐭𝐨 𝐒𝐭𝐚𝐲 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐭‼️

Now that January 15 is behind us, here’s the next critical tax deadline you need to be aware of.

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟑𝟏 𝐢𝐬 𝐚 𝐦𝐚𝐣𝐨𝐫 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐝𝐞𝐚𝐝𝐥𝐢𝐧𝐞.

By this date, businesses are generally required to:

✅ Send W-2s to employees
✅ Issue 1099-NEC forms to contractors paid $600 or more
✅ File Q4 payroll reports, including Form 941, Form 940, and any required state payroll filings

Missing this deadline can lead to:

⚠️ Penalties
⚠️ IRS notices
⚠️ Extra cleanup and stress later

What to do now (don’t wait):

👉🏼 Confirm who should receive a W-2 vs. a 1099-NEC
👉🏼 Make sure you have a W-9 on file for every contractor so 1099s can be issued correctly
👉🏼 Review payroll and contractor payments for accuracy
👉🏼 Submit all required filings by January 31

Taking care of this now helps you avoid last-minute issues and start the year on solid footing.

Not sure if everything has been handled correctly—or missing W-9s?

Drop a comment or send a DM, and we’re happy to help point you in the right direction.

𝐓𝐀𝐗 𝐒𝐄𝐀𝐒𝐎𝐍 𝐈𝐒 𝐇𝐄𝐑𝐄! ⏰

If you’ve been curious about working with us, tax compliance is a great place to start.

𝐖𝐞 𝐜𝐚𝐧 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐟𝐢𝐥𝐞 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐧𝐝 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐭𝐚𝐱𝐞𝐬.

Keeping your tax filings on time, current, and handled correctly creates the foundation for everything else. It means less stress right now and clearer, more productive conversations about building a more intentional financial future.

👇🏼 When you’re ready to get started, check out the comments and drop a thumbs up. We’ll take it from there.

𝐂𝐨𝐚𝐜𝐡𝐞𝐬 & 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭𝐬—𝐚𝐫𝐞 𝐲𝐨𝐮 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐨𝐧𝐞𝐬 𝐰𝐡𝐨 𝐠𝐞𝐭𝐬 𝐡𝐢𝐭 𝐰𝐢𝐭𝐡 𝐚 𝐡𝐞𝐟𝐭𝐲 𝐭𝐚𝐱 𝐛𝐢𝐥𝐥 𝐞𝐯𝐞𝐫𝐲 𝐀𝐩𝐫𝐢𝐥?

Lean expenses.
High margins.
More money going to the IRS?

It’s common—but it doesn’t have to be that way.

When taxes aren’t planned for throughout the year, the bill shows up all at once during tax season. That’s why quarterly planning matters.

And here’s the immediate reminder:
🗓️ 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟏𝟓 𝐢𝐬 𝐭𝐡𝐞 𝐝𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐐𝟒 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐚𝐱 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬.

This applies to individuals and pass-through businesses like LLCs, S corporations, and Partnerships.

This payment covers income earned toward the end of the year and typically applies if you expect to owe more than $1,000 in federal taxes.

Missing it can lead to:

Penalties
Interest
A larger tax bill later

Handling taxes quarterly helps spread payments out, protect cash flow, and avoid surprises.

𝐈𝐟 𝐭𝐡𝐢𝐬 𝐬𝐨𝐮𝐧𝐝𝐬 𝐟𝐚𝐦𝐢𝐥𝐢𝐚𝐫 𝐨𝐫 𝐲𝐨𝐮’𝐫𝐞 𝐧𝐨𝐭 𝐬𝐮𝐫𝐞 𝐢𝐟 𝐭𝐡𝐢𝐬 𝐚𝐩𝐩𝐥𝐢𝐞𝐬 𝐭𝐨 𝐲𝐨𝐮, 𝐝𝐫𝐨𝐩 𝐚 𝐜𝐨𝐦𝐦𝐞𝐧𝐭 𝐨𝐫 𝐬𝐞𝐧𝐝 𝐦𝐞 𝐚 𝐃𝐌.

Mark your calendars!

Business Owners: 𝐉𝐀𝐍𝐔𝐀𝐑𝐘 𝟏𝟓 is an 𝐈𝐌𝐏𝐎𝐑𝐓𝐀𝐍𝐓 𝐓𝐀𝐗 𝐃𝐄𝐀𝐃𝐋𝐈𝐍𝐄

𝘈 𝘲𝘶𝘪𝘤𝘬 𝘳𝘦𝘮𝘪𝘯𝘥𝘦𝘳 𝘢𝘴 𝘺𝘰𝘶 𝘬𝘪𝘤𝘬 𝘰𝘧𝘧 𝘵𝘩𝘦 𝘺𝘦𝘢𝘳:
𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟏𝟓 is the due date for Q4 estimated tax payments for:
👉🏼 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥𝐬
👉🏼 𝐏𝐚𝐬𝐬-𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐨𝐰𝐧𝐞𝐫𝐬 (sole proprietors, partnerships, and S-corporations)

These payments are made to the IRS and cover income earned in the fourth quarter of the year—especially important if you’re a coach, consultant, or attorney with lean expenses and high profit margins.
If you’re required to make estimated payments, missing this deadline can result in:
⚠️ Penalties
⚠️ Interest charges
⚠️ Unexpected tax balances later

𝐖𝐇𝐀𝐓 𝐓𝐎 𝐃𝐎 𝐍𝐎𝐖:
✔️ Confirm whether estimated payments apply to you
✔️ Review your Q4 income
✔️ Submit your payment by January 15

Staying ahead of deadlines helps you start the year with clarity and confidence.

📌 𝐍𝐞𝐞𝐝 𝐡𝐞𝐥𝐩 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐢𝐬? These are the exact conversations our clients are having right now. If you’d like support, book a call with us. See comment section.

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬: 𝐃𝐨𝐧’𝐭 𝐉𝐮𝐬𝐭 𝐄𝐧𝐝 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫 — 𝐅𝐢𝐧𝐢𝐬𝐡 𝐈𝐭 𝐒𝐭𝐫𝐨𝐧𝐠

As the year wraps up, most business owners jump straight into planning next year.

But the most successful businesses pause first and close the year intentionally.

Before you move forward, make sure you do this:

• Review your numbers (revenue, expenses, net profit, cashflow)
• Identify what actually worked — and what didn’t
• Clean up systems that caused stress or inefficiency
• Strengthen client relationships instead of going quiet
• Reflect on your leadership, not just the numbers

Closing out the year isn’t about perfection.

It’s about clarity, completion, and intention.

Finish strong so next year doesn’t start from scratch.

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧:
What’s one thing you’re doing to close the year with intention?

Send a message to learn more

Hey, Coaches & Consultants! 👋🏾

Do you currently offer an 𝐇𝐒𝐀 (𝐇𝐞𝐚𝐥𝐭𝐡 𝐒𝐚𝐯𝐢𝐧𝐠𝐬 𝐀𝐜𝐜𝐨𝐮𝐧𝐭) to your team? Or have you ever had one through a past employer?

At one point, I had an HSA and thought it was simply a yearly contribution my employer added to a card for co-pays and medical expenses. And that was the end of my understanding. 😅

But now, after helping my clients save tens of thousands in taxes, I’ve learned how powerful an HSA really is — both for individuals and for employers who want to offer smarter, tax-efficient benefits.

𝐇𝐞𝐫𝐞’𝐬 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐭𝐨 𝐠𝐞𝐭 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐨𝐮𝐭 𝐨𝐟 𝐚𝐧 𝐇𝐒𝐀:

1️⃣ 𝐘𝐨𝐮 𝐝𝐨𝐧'𝐭 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐬𝐩𝐞𝐧𝐝 𝐭𝐡𝐞 𝐦𝐨𝐧𝐞𝐲 𝐧𝐨𝐰.
Because the funds can be invested, you can let them grow and withdraw them tax-free in retirement for qualified medical expenses.

2️⃣ 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧𝐬 𝐫𝐞𝐝𝐮𝐜𝐞 𝐲𝐨𝐮𝐫 𝐭𝐚𝐱𝐚𝐛𝐥𝐞 𝐢𝐧𝐜𝐨𝐦𝐞.
For business owners, offering HSAs can lower payroll taxes and give your employees a benefit they actually value.

3️⃣ 𝐇𝐒𝐀𝐬 𝐰𝐨𝐫𝐤 𝐛𝐞𝐚𝐮𝐭𝐢𝐟𝐮𝐥𝐥𝐲 𝐰𝐢𝐭𝐡 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐰𝐞𝐚𝐥𝐭𝐡 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠.
Think of it as a triple-tax-advantaged retirement tool that most people overlook — tax-deductible contributions, tax-free growth, and tax-free withdrawals.

❓Do you or your employer offer an HSA account? I’d love to hear your experience with it!

Hey y’all! 👋🏾

I just realized I’ve been holding out on giving you some free game to help you finish the year strong with tax planning.

We’ve had some amazing wins with our fractional CFO clients (I’ll share those soon!), but in the meantime, I want to drop some simple, actionable tips throughout the week to help you get organized, compliant, and profitable before year-end.

𝐒𝐭𝐚𝐫𝐭 𝐓𝐎𝐃𝐀𝐘. Not next week… not next month… today.
Let’s kick it off with something every coach, consultant, and service professional should have in place:

✨ A High-Yield Savings Account (HYSA)

If you’re new to it, here’s the quick breakdown:

𝐖𝐡𝐚𝐭 𝐢𝐭 𝐢𝐬:
A HYSA is a savings account that pays you more interest than a regular savings account—sometimes 10–20x more, depending on the bank.

𝐖𝐡𝐲 𝐢𝐭 𝐦𝐚𝐭𝐭𝐞𝐫𝐬 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬:
1. You earn free money simply by letting your funds sit.
2. It’s perfect for tax savings, emergency funds, and quarterly obligations.
3. It helps you build your cash reserves, which reduces stress and keeps your business stable.
4. It supports better cash flow management, especially for coaches and consultants with inconsistent revenue cycles.

This is one of the easiest ways to 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐲𝐨𝐮𝐫 𝐜𝐚𝐬𝐡 𝐟𝐥𝐨𝐰 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐡𝐚𝐫𝐝𝐞𝐫—just by being strategic.

More tips coming this week to help you wrap up the year in the strongest financial position possible. Stay tuned!