Apogee Tax & Accounting, LLC

03/27/2025

Did you know many small businesses leave money on the table when it comes to tax planning? Let’s change that. Here’s a simple tax-saving gem that could put thousands back in your pocket:

The Small Employer Pension Plan Startup Costs Credit -If you have 50 or fewer employees, you will be able to:

• Offset up to $5,000 in retirement plan setup costs
• Offer great benefits to your team (hello, happy employees!)
• Lower your tax bill
• Attract & keep top talent

Pro Tip: Tax planning isn’t just about paying the IRS; it’s about making smart financial moves that grow your business and support your team.

Here are three quick strategies to maximize your tax savings:

• Make advantage of targeted tax credits.
• Make the most of retirement plan benefits
• Partner with a tax pro who truly gets your business

The right tax strategy can make a huge difference for your bottom line. Let’s make those tax dollars work for you!

Questions? We’re here to help!

https://apgva.com/contact-us/

03/21/2025

Be cautious of advice on social media that promises big refunds if you claim certain tax credits. This information is often wrong and may lead to refund delays or penalties.

Before you file a claim based on online advice, check www.irs.gov/scams.

03/10/2025

Repairs vs. Assets for Rental Property Owners

As a rental property owner filing your 2024 tax return, understanding what expenses you can deduct immediately versus those you must depreciate can significantly impact your tax situation.

Repairs

You can fully deduct repair expenses on your 2024 tax return. These include:
* Fixing leaks
* Painting
* Appliance or HVAC repairs

Improvements

Major purchases must be capitalized and depreciated over several years. These include:
* New windows or doors
* Roof replacement
* Major equipment like HVAC systems

The De Minimis Safe Harbor Election

Deduct assets costing $2,500 or less per item/invoice immediately ($5,000 if you have audited financial statements). This simplifies your accounting and maximizes deductions on your 2024 return! But be sure to attach the required statement on you return or your deduction will be in jeporady!

Need help with your 2024 tax filing? Contact Apogee Tax & Accounting, LLC today to optimize your real estate investment tax strategy.

03/09/2025

No-Cost webinars this week and next:

Feb 27, 2025 | 10 AM
Building Your Value Proposition Design
- https://ow.ly/apHT50V69tr

Mar 6, 2025 | | 10 AM
Building Your Business Performance Dashboard Metrics
- https://ow.ly/PhXI50V69tq

02/10/2025

01/31/2025

Beware of scams offering lures like fake Economic Impact Payments. If you get one of these -related text messages, don’t click links or provide any response. Learn more at: www.irs.gov/scams

11/27/2024

Stay vigilant!

People are losing big money to scammers running complicated scams. The scams usually involve someone supposedly spotting fraud or criminal activity on one of your accounts, offering to help “protect” your money, sometimes asking you to share verification codes, and always telling you to move mon...

11/25/2024

Starting a business is an exciting journey filled with many decisions. One of the most significant choices you'll make is selecting the right type of business setup. At Apogee Tax & Accounting, LLC, we understand that navigating these options can be overwhelming. Let's simplify it for you!

What Are the Different Types of Business Structures?

Choosing the right business structure is crucial for your company's success. Here, we break down the key types: Sole Proprietorship, LLC, Partnership, S Corp, and C Corp.

1. Sole Proprietorship: The Simple Start

What is a Sole Proprietorship?A sole proprietorship is the simplest business form, owned and run by one individual. There's no legal distinction between the owner and the business.

Example: Imagine starting a small physical therapy practice from your home.

Physical therapist working with a client in an LLC-owned, S Corporation, or C Corporation owned clinic.Starting a business is an exciting journey filled wit

11/25/2024

Starting a business is an exciting journey filled with many decisions. One of the most significant choices you'll make is selecting the right type of business setup. At Apogee Tax & Accounting, LLC, we understand that navigating these options can be overwhelming. Let's simplify it for you!

What Are the Different Types of Business Structures?

Choosing the right business structure is crucial for your company's success. Here, we break down the key types: Sole Proprietorship, LLC, Partnership, S Corp, and C Corp.

1. Sole Proprietorship: The Simple Start

What is a Sole Proprietorship? A sole proprietorship is the simplest business form, owned and run by one individual. There's no legal distinction between the owner and the business.

Example: Imagine starting a small physical therapy practice from your home.

Physical therapist working with a client in an LLC-owned, S Corporation, or C Corporation owned clinic. Starting a business is an exciting journey filled wit

11/22/2024

Wrap Up Your Year with a Robust Bookkeeping System!

As 2024 ends, reflect and plan for a prosperous new year. Is your bookkeeping system up to the mark?

Apogee Tax & Accounting, LLC offers expert guidance, customized solutions, and holistic services. Contact us today for a consultation!

Call Us: (571) 946-2852
Visit Us: www.apgva.com
Email Us: [email protected]

Efficient Accounting Solutions to Grow Your Business Apogee Tax & Accounting, LLC provides tax and accounting services in Woodbridge, VA and the surroun

10/19/2024

Watch for these common tax mistakes to avoid for investors, to help manage the impact of taxes on your portfolio.