Thank you Sherman. I'm beyond frustrated with the many CPAs I've worked with. They all overpromise and under deliver 😢😢. Not one has EVER made one suggestion to mitigate my tax liabilities. I'm exhausted and wish I didn't need one, but the IRS makes it impossible 😭😭😭.
Mind blown! I just realized that even if I make $240,000 this year, not all of it will be taxed at 32%. The first 11k is taxed at 10%, the next 11k+ to 47k is taxed at 12%, 47k+ to 100k taxed at 22% and so on up the scale. Only about 50k will be taxed at 32%. I had no idea until you mentioned it at 2:00. I always do my own taxes and I wondered why the actual taxes I pay are always much lower than the bracket I'm supposed to be in. LOL! Wow! I'm usually in a 24% bracket, but was scared to death because I'll be bumped up to 32% this year.
Your explanation is very clear, thank you 😊
Thanks, Kim!
Thank you Sherman. I'm beyond frustrated with the many CPAs I've worked with. They all overpromise and under deliver 😢😢. Not one has EVER made one suggestion to mitigate my tax liabilities. I'm exhausted and wish I didn't need one, but the IRS makes it impossible 😭😭😭.
You're welcome. And I'm sorry to hear that. Try one of my CPAs out. They specialize in tax planning. mycpacoach.com/contact/
This is amazing! Thank you friend!😁 Hope you have a great weekend🙏🏼
You're very welcome. Thank you, Carson!
Thank you for this valuable information!!
Mind blown! I just realized that even if I make $240,000 this year, not all of it will be taxed at 32%. The first 11k is taxed at 10%, the next 11k+ to 47k is taxed at 12%, 47k+ to 100k taxed at 22% and so on up the scale. Only about 50k will be taxed at 32%. I had no idea until you mentioned it at 2:00. I always do my own taxes and I wondered why the actual taxes I pay are always much lower than the bracket I'm supposed to be in. LOL! Wow! I'm usually in a 24% bracket, but was scared to death because I'll be bumped up to 32% this year.
So many people think that! I’m glad this was helpful for you.
@@mycpacoachAs good as GOLD. Thanks again!
Hi Sherman , my business is in Real Estate Investing, can you help me with tax code deduction and savings for my Real estate business?