AEM Accounting

Here’s the estimated tax advice I give every one of my small business clients ↓

💸 Set aside a portion of each sale (or a % of your net income each month) for taxes.

💸 Keep it in a high-yield savings account (and don’t touch it!).

💸 Ask your accountant what your safe harbor amount is so you can avoid penalties + interest later. I provide this to ALL of my clients when I file their return.

Are you a small business in need of some tax help? You’re in the right spot! 🎯

Click the link in my bio to learn more about how I can help you keep more of your hard-earned money. 

Let’s break down some of the things you need to know if you’re working in a “traditionally tipped” position:

Qualified workers can:

→ Deduct up to $25,000 of their qualifying tips

→ Claim this deduction starting with qualified tips earned in 2025 through 2028

A few more things you need to know:

One, you’ll still pay Social Security + Medicare taxes on those tips even if you claim this deduction.

And two, this deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 filing jointly).

If you earn tips, I highly recommend working with a qualified tax professional to ensure you understand how much you’re qualified to deduct!

Looking for a new tax accountant? Click the link in my bio to schedule a quick intro call. 🔗

Let’s talk SALT (no, not the margarita rim kind)! 🧂

In the tax world, SALT stands for the State and Local Tax deduction. ⤵️

This is a $40,000 limit on the amount of state and local taxes you can deduct if you itemize your deductions. This higher SALT cap begins in the 2025 tax year and will be adjusted annually.

For taxpayers with a modified adjusted gross income of over $500,000 (or $250,000 MFS), this deduction begins to be gradually phased out down to the original $10,000 SALT cap.

This is just one of MANY tax changes that could potentially affect your tax return as soon as the 2025 tax year!

At AEM Accounting, we’re working hard to keep our clients informed to ensure they take advantage and stay prepared for all potential implications of the new tax law.  

Let’s start with the good news:

You’re not even close to the only taxpayer who is behind on filing their taxes!

The bad news? 👀

Doing nothing is making your problem (and your stress levels) worse. 😓

You aren’t the first client I’ll have who is behind on their taxes, and you won’t be my last!

I can help you catch up on unfiled tax returns, deal with IRS notices, and try to minimize any penalties and interest you’re facing. ✅