Ascension Advisory and Accounting Groups LLC

💼📈 Attention Small Business Owners!

Are you running a growing, unincorporated small business and feeling the pinch of high self-employment (SE) tax? 🤔 Here's what you need to know:

📝 The SE Tax Breakdown:
🔹 2024: The maximum 15.3% SE tax rate applies to the first $168,600 of net SE income.
🔹 2025: This threshold increases to $176,100.
💡 The 15.3% rate includes:

12.4% Social Security tax
2.9% Medicare tax
📉 Once you surpass the threshold, the 12.4% Social Security tax disappears, but the 2.9% Medicare tax keeps going!

💡 Looking to reduce your SE tax? Operating as an S corporation might be the solution for you! Contact us to learn more about SE tax and smart strategies to save. 💬📊

📖 To learn even more, check out our blog! >>>https://bit.ly/3ZhYput📚

📞 Let's tackle taxes together!

🚗💼✈️ Business travel can mean big tax savings for owners on the go! From airfare and car rentals to meals (50% deductible!) and even dry cleaning, many expenses can be written off—if you meet the requirements. Click on the link to learn more>>> https://bit.ly/3UIeW8i