MONARCH MONTHLY
March 2022 Edition
MARCH (AND TAX) MADNESS 🏀
Today’s headlines to help plan for tomorrow.
Sue’s News
When it comes to sports, this is my absolute favorite time of the year – March Madness! Brackets, Cinderella stories, Sweet 16 and Elite Eight fighting for that Final Four slot, and then playing for the championship – it’s a nail-biting, edge-of-your-seat time of the year. ⛹️♀️
Guess who else is biting their nails and on the edge of their seats? CPAs! Taxes are due, and clients are asking them (and me!), “How can I pay less? What else can I do?” 💰
Below are some tax reduction strategies that may help you out, for personal deductions or for your business! I’m not a CPA, but I have helped clients with every one of these strategies – if you’re curious about whether one would work for you, give us a call.
“Lets pay more in taxes!” – Nobody, ever.
Be safe, and be well!
💸LOWERING YOUR PERSONAL TAXABLE INCOME💸
For every dollar you earn from your employer, you have to pay a certain amount in taxes, depending on your total income level and where you live. But there are many ways to lower that “total income level” without taking a pay cut, minimizing that tax bill.
💰TOP DEDUCTIONS FOR SMALL BUSINESSES💰
One of the simplest ways to reduce your tax bill is to make sure you’re claiming all of the tax deductions available. Here are the top 17 small business tax deductions commonly available to self-employed businesses that are sole proprietors or partnerships.
💰LITTLE-KNOWN STRATEGY WITH BIG DEDUCTION IMPACT💰
IRAs and 401(k)s are familiar retirement plan concepts to business owners. However, there is another lesser-known strategy that can result in significant tax savings (we’re talking 6-figures, here!) for older business owners looking to (1) turbo-charge their retirement savings and (2) reduce taxes dollar for dollar.
🎤 Recent Releases 👩🏼🎤
Subscribe to our podcast and YouTube channel for future updates!
Podcast: Retirement A to Z
Breaking down retirement plans into bite-size pieces
YouTube: Monarch Minutes
Discussing retirement, investment, insurance, and more!
Blog: Sue’s News
Discussion of the latest news, tips, and trends in financial planning.
🏃♀️ Run/Walk For a Reason 🏃♀️
Craft 🍺, Community 🤝, Cause 🤗
MARK YOUR CALENDARS: JUNE 11, 2022
Here we go!!!
Chris Owens of RE/MAX Preferred Group and I are pleased to announce that our next event will take place on June 11, 10am, starting and ending at Narrow Path Brewery, featuring the Loveland Hope Squad and the Ben Morrison Memorial Fund!
We had such a great turnout last year for them, we decided to feature them again!
Get up, get out, get together, and get moving for two GREAT causes – we’re looking forward seeing you, and to having another successful year giving back to our community!
Make sure to Like/Follow us on Facebook to stay up to date on future events. See you soon!
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