As 2024 comes to a close, it’s the perfect time to review your finances and take proactive steps to reduce your tax bill. Here are some strategies to help you save before the year ends: 1. Maximize Contributions to Retirement PlansTake full advantage of your workplace retirement plan. For 2024, you can contribute up to […]
My name is Nicole, and I founded Elite Tax Partners because I realized something crucial was missing in the traditional model—heart. Dissatisfied with the impersonal approach of larger firms, I set out to build a company where values are not just talked about but lived and breathed in every interaction. I wanted to create a […]
Are you an S Corporation owner looking to maximize your tax savings? The Augusta rule, outlined in IRC Section 280A(g), might be the key to tax-free income for you. This rule allows S Corporation owners to benefit from tax-free rental income when their dwelling unit is used as a residence and rented for less than […]
The recently enacted Inflation Reduction Act brings forth significant enhancements and extensions to tax credits aimed at promoting energy efficiency in homes. Here’s an overview of the key provisions: 1. Solar Panels and More Homeowners can now enjoy a substantial 30% tax credit for installing solar panels, effective retroactively from 2022. Additionally, credits are available […]
