Tax Optimization and strategy
Streamlined Tax Preparation and Filing
Bid adieu to complex forms and long hours. Our comprehensive services offer more than just tax filing convenience; it encompasses tax strategy from start to finish, seamlessly walking you through the entire process, from strategic planning to meticulous preparation.
Countdown to Maximize Your Tax Savings
Countdown to Maximize Your Tax Savings
Year End Tax Strategy #1 - Review and Adjust Your Withholding
Assess your current tax withholdings to ensure they align with your expected tax liability. Adjusting your withholdings can help avoid underpayment penalties and ensure you're not overpaying taxes throughout the year. This proactive step can lead to a more accurate tax outcome when filing your return. Bar
Year End Tax Strategy #2 - Maximize Retirement Account Contributions
Contributing to tax-advantaged retirement accounts like 401(k)s and Traditional IRAs can lower your taxable income. For 2024, you can contribute up to $23,000 to a 401(k) plan, with an additional $7,500 catch-up contribution if you're 50 or older, totaling $30,500. For Traditional IRAs, the contribution limit is $7,000, or $8,000 if you're 50 or older.
Year End Tax Strategy #3 - Tax-Loss Harvesting
If you have investments that have declined in value, consider selling them to realize a capital loss. These losses can offset capital gains and up to $3,000 of ordinary income, reducing your taxable income for the year. Be mindful of the wash-sale rule, which disallows the deduction if you repurchase the same or substantially identical security within 30 days.
Year End Tax Strategy #4 - Charitable Contributions
Donating to qualified charities can provide a tax deduction if you itemize your deductions. Consider donating appreciated assets, such as stocks, which can offer additional tax benefits by avoiding capital gains taxes on the appreciation. Ensure that donations are made by December 31 to count for the 2024 tax year.
Tax Optimization and strategy
Streamlined Tax Preparation and Filing
Bid adieu to complex forms and long hours. Our comprehensive services offer more than just tax filing convenience; it encompasses tax strategy from start to finish, seamlessly walking you through the entire process, from strategic planning to meticulous preparation.
About Diamond Tax Solutions, Inc.
We're not your typical tax preparation firm, we're an outsourced tax planning service
Tax services that are customized to enhance your financial strategy and minimize tax liabilities. Trust us for tax preparation, planning, and filing needs to thrive in today's competitive market.
We create a Comprehensive Tax Reduction Plan
We clean up your Bookkeeping, Payroll, Accounting & Operations
We pro-actively manage your S-Corp or LLC salary decisions & tax payments
We keep your Bookkeeping up-to-date & accurate
SERVICES
Our accounting services are designed to look after small-business financial so owners can focus on what they do best
Corporate Tax & Accounting
Personal Tax Returns
Tax Planning & Strategies
Financial Planning
Payroll Services
Notary Services
About Diamond Tax Solutions, Inc.
We're not your typical tax preparation firm, we're an outsourced tax planning service
Tax services that are customized to enhance your financial strategy and minimize tax liabilities. Trust us for tax preparation, planning, and filing needs to thrive in today's competitive market.
We create a Comprehensive Tax Reduction Plan
We clean up your Bookkeeping, Payroll, Accounting & Operations
We pro-actively manage your S-Corp or LLC salary decisions & tax payments
We keep your Bookkeeping up-to-date & accurate
Corporate Tax & Accounting
Personal Tax Returns
SERVICES
Our accounting services are designed to look after small-business financial so owners can focus on what they do best
View all services
Tax Planning & Strategies
Financial Planning
Payroll Services
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Finances His Way, LLC Bookkeeping Services!
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From Indianapolis to Carmel, from Fishers to Greenwood.
Save you money, and help you focus.
Proactive tax planning will transform your financial future - we promise. We help people save thousands a year in taxes, and maximize the opportunity costs. Besides saving you money and helping you invest properly, we'll service your business with the utmost levels of service, rigor, and creativity.
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Your integrated tax strategy team is just a call away
During your 30-minute call, our tax expert will determine whether we’re a great mutual fit by learning:
How you run your business and your growth goals
What you’re currently using for your accounting and taxes
How much time you invest to support your back office day-to-day
What’s your budget?
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How can professional bookkeeping services benefit my business?
Professional bookkeeping services benefit businesses by ensuring accuracy, saving time, providing financial insights, ensuring compliance, offering cost-effectiveness, and scalability.
Can you help me with both personal and business tax needs?
Yes, our firm can assist with both personal and business tax needs, providing comprehensive tax services tailored to your specific situation and requirements.
What are some tax deductions that businesses often overlook?
Commonly overlooked business tax deductions include home office expenses, vehicle expenses, startup costs, and health insurance premiums.
What is the difference between tax preparation and tax planning?
Tax preparation involves the process of filing tax returns based on past financial activities, while tax planning focuses on strategic decisions made throughout the year to minimize tax liabilities and optimize financial outcomes.
Do I need to hire a CPA, or can I handle bookkeeping on my own?
Whether to hire a CPA or handle bookkeeping independently depends on factors such as the complexity of your financial situation, your knowledge of accounting principles, and the time you can dedicate to bookkeeping tasks. We’re here to help
SCHEDULE AN INTRO CALL
From Indianapolis to Carmel, from Fishers to Greenwood.
Save you money, and help you focus.
Proactive tax planning will transform your financial future - we promise. We help people save thousands a year in taxes, and maximize the opportunity costs. Besides saving you money and helping you invest properly, we'll service your business with the utmost levels of service, rigor, and creativity.