kendrox • November 15, 2019
3 strategies to reduce tax liability.

First, you have to distingue 3 basics:

1. The objective of *Tax avoidance* is to reduce tax liability by applying the script of law.

2. *Tax planning* is done to reduce the liability of tax by applying the provision and moral of law.

3. *Tax evasion* is a deliberate attempt to evade or omit a tax, not a simple mistake. This crime can result in up to five years in prison and a fine of up to USD $ 250,000 for individuals or USD $ 500,000 for businesses, in addition to court costs.

Now, I am going to give you 3 strategies to reduce next season’s taxes, you can use these before the end of the year 2019.

This is the last year in which these 3 benefits granted by law can be used. And remember, there are only 2 months left to take the right actions to take advantage of it.

1. Buy new or used equipment. You can deduct up to 1 million.
2. Credit for Absentee Compensation.
3. Rolled over earnings into a Qualified Opportunity Fund, if the funds are maintained for more than 10 years they will be tax-exempt, and a 15% deduction is allowed.

If you want to know more about how to reduce your taxes, call us at (407)601-3157

Ana Echeverri

Ana Echeveri is a Certified QuickBooks ProAvisor Advanced Online
Ana Echeveri is a Certified QuickBooks ProAvisor Payroll

Certified QuickBooks ProAdvisor

Ana can help you set up and manage your QuickBooks online and on desktop. Having a streamlined chart of accounts and strategy for accounting will help you understand your company's ins and outs.

Are you ready to maximize your tax refund this year?

By Ana Echeverri • December 5, 2024
Are you ready to maximize your tax refund this year? 🏦💰 It’s time to get money-savvy and make the most of tax season! Here are some tips to help you claim every dollar you’re entitled to: . 1. Organize Your Documents Early Keep track of receipts, tax forms (W-2, 1099, etc.), and deductions throughout the year. A little preparation goes a long way in reducing stress and uncovering savings. . 2. Maximize Your Deductions Did you know that job-related expenses, medical bills, and charitable donations might qualify as deductions? Itemizing could unlock hidden savings that the standard deduction might overlook. . 3. Don’t Forget About Tax Credits Credits like the Earned Income Tax Credit (EITC), Child Tax Credit, and education-related credits (like the American Opportunity Credit) can significantly increase your refund. These credits often provide dollar-for-dollar savings. . 4. Contribute to Your Retirement Account Contributions to an IRA or 401(k) not only secure your future but also offer immediate tax benefits. Plus, some contributions might be deductible even after December 31! . 5. File Early Filing early reduces the chance of tax fraud and helps you receive your refund faster. Don’t procrastinate; the IRS starts processing returns in January. . 6. Double-Check Everything Simple mistakes like incorrect Social Security numbers or missed signatures can delay your refund. Review your return carefully before submitting it. . Remember, every dollar counts! A little effort now can lead to a bigger refund later. . Stay smart with your taxes! Reach out to us today and experience the difference of working with seasoned professionals! . Office #: (407) 601-3157 Off. hours: Monday through Friday, from 9 A.M. to 5 P.M. Email address: Ana@AnaEcheverriAssociates.com . Website: https://www.anaecheverriassociates.com/ . >>> [HABLAMOS ESPAÑOL] <<< . #OrganizeYourTaxes #SafeTaxDocuments #TaxSeason2023 #EarlyTaxFiling #TaxRefundSeason #FinancialPlanning #TaxPreparation #IncomeTaxTips #EstimatedTax #SmallBusiness #TaxTips #SmallBusiness #TaxDeductions

5 Savings Tips for your Returns

By Ana Echeverri • February 13, 2024
5 Savings Tips To Maximize Your Tax Returns
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