Dutton Legal Group LLC

𝘾𝙖𝙣 𝙄 𝙨𝙩𝙖𝙧𝙩 𝙖 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙞𝙛 𝙄 𝙨𝙩𝙞𝙡𝙡 𝙝𝙖𝙫𝙚 𝙩𝙖𝙭 𝙞𝙨𝙨𝙪𝙚𝙨 𝙩𝙤 𝙘𝙡𝙚𝙖𝙣 𝙪𝙥?

Yes, and if you’re already thinking like an entrepreneur, we want to help you build on that vision. But before new income starts coming in, it’s important to steady your tax situation first by setting a plan in place for 1) unfiled returns, 2) tax debt, 3) missing records, 4) payment plans, and 5) upcoming tax deadlines.

This isn't meant to hold you back, but to help you start with a clearer picture, fewer surprises, and a better plan for the business you want to build.

If you’re ready to take the idea seriously, let’s get the tax side cleaned up so you can move forward with more confidence.

Entrepreneurship is a big thing in our economy right now, especially with the major influx of content creators over the past few years.

But being an entrepreneur doesn't mean you need to wait for a big “aha” moment to start a successful business.

Sometimes a business idea simply comes from paying attention, asking better questions, and finding a need to fill.

Want help processing your business idea? Let's talk it out in the comments.

https://www.inc.com/yuvaltal/you-dont-need-a-eureka-moment-to-start-a-company/91285000

𝙄𝙛 𝙄'𝙢 𝙗𝙚𝙝𝙞𝙣𝙙 𝙤𝙣 𝙥𝙖𝙮𝙞𝙣𝙜 𝙩𝙖𝙭𝙚𝙨, 𝙨𝙝𝙤𝙪𝙡𝙙 𝙄 𝙛𝙤𝙘𝙪𝙨 𝙤𝙣 𝙥𝙖𝙮𝙞𝙣𝙜 𝙢𝙮 𝙥𝙧𝙚𝙫𝙞𝙤𝙪𝙨 𝙮𝙚𝙖𝙧'𝙨 𝙗𝙖𝙡𝙖𝙣𝙘𝙚 𝙛𝙞𝙧𝙨𝙩?

If every available dollar in your business is going toward a previous year's tax balance, but it makes you struggle to pay this year’s estimated payments, your debt will snowball.

And getting behind like that will make it harder to get approved for a payment plan or keep the one you already have. The IRS really likes you to stay on top of current requirements while also taking care of past due ones.

So, before you put all of your emphasis on tackling old balances, figure out what you need to set aside for the current year first.

Look at:
• Profit/income from the current year
• Federal tax you've already paid
• Estimated payments you've already made
• State estimated tax requirements
• An estimate of income you expect for the rest of the year

Those details will help you get a clearer picture of where your current obligation sits, so that you can know what amount and payment plan makes sense for the previous year's debt.

That can be overwhelming, so if you'd like some professional guidance (or handling), DM us to start that conversation.