HR Tax Services

07/06/2025

🚨 Big Tax News Just Dropped 🚨
Congress just passed the One Big Beautiful Bill (OBBB) —
and if you own a business, invest, or love real estate…
this is one you don’t want to ignore.

Here’s what you need to know (in plain English):

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💼 1. Corporate Tax Rate = Still 21%
Thinking of switching to a C Corp?
Only makes sense in special cases like:

✔️ Qualified Small Business Stock
✔️ ROBS retirement plans
✔️ Major debt payoffs

👉 For most of you, S Corps, LLCs, and good planning still win.

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🏗️ 2. 100% Bonus Depreciation Is Back (2025–2030 Only)
This is huge for real estate investors!

Imagine buying a short-term rental in 2025, doing a cost segregation study, and writing off $150K+ in Year 1.

At a 37% tax rate?
That’s $55K+ in tax savings 💰😮‍💨

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💸 3. SALT Cap Raised to $40,000
Finally! Some breathing room on state tax deductions:

✔️ New cap: $40K
✔️ Starts phasing out at $500K income
✔️ PTET elections still powerful
✔️ No restrictions for service businesses 🙌

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📉 4. 20% QBI Deduction = Permanent
Yes, the Section 199A deduction is here to stay.
Less phasing out, less planning stress.
More time for actual life (and maybe a little vacation 😉).

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💵 5. No Federal Tax on Tips or Overtime (up to a limit)
A big win for W-2 employees in:

🧑‍🍳 Restaurants
🩺 Healthcare
✂️ Service jobs

Not major for biz owners—but great for your team.

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🚗 6. EV Credits Are Gone… But
You can now deduct auto loan interest (yep!).
Solar and energy credits? Fading fast—
so if you’re planning upgrades, move quickly.

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📌 Bottom Line:

✅ Bonus depreciation is back = big write-offs
✅ New SALT cap + PTET = more deduction power
✅ QBI deduction = long-term tax savings
❌ EV credits out, but new strategies in
🏡 Real estate investors: 2025 is YOUR year

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📲 Got questions? Thinking about strategy for 2025?
DM me or drop a comment—I’m here to help. Let’s make this bill work for you. 💼

04/05/2025

An LLC is a legal entity.

An LLC does not save you money in taxes...

I hear too many people who have heard that an LLC will save them money in taxes.

Let me be clear ~ it does not.

The tax election of your LLC is what can save you money in taxes.

I share this because I see many NIL athletes and business owners starting out who think an LLC alone is a tax tool.

It is step one in protecting yourself, but it provides zero tax benefit.

The real step is determining how you should have that LLC taxed.

My friends like much of financial planning ~ you need to go a step or two deeper to find the true benefit of most tools.

03/28/2025

If you are looking for a reliable and trusted professional to prepare your income tax return, look no further. Call me and I will help you.

03/07/2025

02/28/2025

Maximizing Credits & Helping My Clients Get What They Deserve!

A couple of quick highlights on how we are making a difference this tax season:

✅ One client assumed she still had to file her taxes as a non-resident. After reviewing IRS guidelines and asking the right questions, I confirmed she could file as a US tax resident because she met the Substantial Presence Test —securing the credits she rightfully deserved!

✅ In another case, I worked with a client whose son is disabled and living with her. Confident in her understanding of the IRS rules, I asked all the right questions to ensure she was claiming him correctly—helping her secure the benefits she’s entitled to!

I am here to help you navigate the complexities of tax rules and maximize your refund. Don’t assume—ask me how I can assist you!

02/18/2025

Not gonna lie, it’s a big ego boost to be treated like a genius by clients when they get a refund.

But getting a fat refund isn’t the goal. The goal is to be as close to zero tax owed when the you file your return.

A big refund generally means that you paid the government too much throughout the year and they return it to you, with no interest paid to you.

Had you kept that extra money throughout the year and saved it in literally any other way, you would earn some form of interest, instead of allowing inflation eat away the value of that money.

High yield savings accounts can easily earn 3.5% APY, the stock market averages roughly 10% annual returns, and if you own a business, you can use that money to grow the company.

It feels good in the moment to get a refund, but it’s actually better to put that money to work throughout the year.

01/27/2025

Still looking for a tax professional? Call me @ 305-224-0734

01/14/2025

The IRS has announced the annual inflation adjustments for the year 2024, including tax rate schedules, tax tables and cost-of-living adjustments.

01/13/2025

If you are looking for a new accountant for your taxes, look no further. HR Tax Services is proud to deliver great customer service and is always here to help. Call us @ 305-224-0734.

01/11/2025

HR Tax Services is your accounting that you can trust. We are part of the IRS AFSP program, we have good reviews in our Google business profile and we are licensed and insured. Call us @ 305-224-0734; we are ALWAYS here to help!

01/10/2025

Make sure to gather all your tax documents and information so you are ready to file your tax return. Call us @ 305-224-0734; HR Tax Services is always here to help!!