How To Go From A Tax Liability To A Tax Refund In One Easy Step
VIDEO TRANSCRIPTION – How to go from a tax liability to a tax refund in one easy step. Hi, I’m Steven D. Cooper, your tax strategist with Coopers Accounting Service, because your financial freedom matters.
If you’d like to learn more great tax tips, download our popular financial guide at our website, yourfinancialfreedommatters.com, or click on the link below. A couple of weeks ago, I was meeting up with a new client.
They made a comment that they typically owe $79,000 every year. I said, wow. They had no idea what business deductions they could take advantage of. So their preliminary tax refund was roughly about $9,000. I talked to them again. They had no idea that you don’t use the term vacation anymore.
Corporate retreat. If you got health care deductions, and they also got two children, we can write that off as well too. So they refund went from 9,000 to $19,000. Husband made a comment, say, Coop, we’re been at all my life? I looked at the wife, told her, don’t hate, don’t hate. And we just started laughing about it.
They are now at the point now where they’re now looking at their options on buying investment properties now. Client asked me, hey, Coop, we’re looking at buying investment properties. Should we buy in California or should we buy in Colorado? I asked the client, since this is your first investment property, you should buy local first.
That way you get to understand what the general contractors are asking for, go about the business codes. But if you go in Colorado, every time you go, you’re gonna have to fly out. So that costs money. So let’s start local first and then build out second. They love that advice.
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For a free 20 minute smart money consultation, give us a call, 562-436-2600. Well again, I’m Steven D. Cooper, your tax strategist with Coopers Accounting Service.
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