Pink Tax

Helping America take control of their tax life 🇺🇸 💸 Making taxes easy to understand 🙌🤩 💖

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LAST CALL ☎️ Tax returns and extensions requests are due Tuesday, April 18th ✨Your tax payment is also due April 18th, whether you extend or not 💯

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🚩🚩🚩= your tax preparer promises a large refund or is compensated a % of your refund 😱🚩🚩🚩 #taxtwitter

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The IRS starts accepting individual tax returns for 2022 on January 23 💕 #letsgo

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Tax CREDITS, however, ARE dollar for dollar money back on your taxes 🔥

More details on credits to come ❤️

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What is a tax deduction (write-off)?👇

It’s NOT dollar for dollar money back on your taxes 🚨
It reduces your taxable income that tax is calculated on 💯

Example 👉

[Pink Tax @PinkTax_CPA]

$100,000 of taxable income
X 24% rate
= $24,000 tax due

$100,000 of taxable income
- $20,000 of tax deductions
= $80,000 adj. taxable income
X 22% rate
= $17,600 tax due

(Example rates are not accurate)

[Pink Tax @PinkTax_CPA]

It is essentially a tax you pay in exchange for the benefit of earning income in our country 🇺🇸 You can lower your tax due by taking advantage of legal tax deductions and credits 🪄 Follow @pinktaxcpa to learn how and for more tax tips, facts, and strategies 🔥

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What is federal income tax ⁉️👉 (a thread)

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Depending on your income level ⚖️ the 2022 income bracket range is 10-37% 🥵If you have a W2 job or certain other investments your income taxes may be automatically withheld 💯 Otherwise you will have to make payments directly to the IRS 🙌

[Pink Tax @PinkTax_CPA]

When the market pulls back into a recession, it is an opportunity to capitalize on investments ✨ If you are able, do NOT miss it 🙌

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@W_Holtsman I wonder if he went to the pumpkin patch to get this shot 🤔🙃

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@PurelyNumbers @DailyTaxMemes @taxtherapist505 I see that but def not my thing. I rarely use Twitter until yesterday lol

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@IraGilligan @CamMatheny why except me? you know nothing about me and are a random person from the internet. My opinion is valid too. Goodbye

[Pink Tax @PinkTax_CPA]

FYI 💯 standing by my post that if you create content for your business at the pumpkin patch with your children, who also work as models in your business, then that 🎃 trip is tax deductible ✌️

[Pink Tax @PinkTax_CPA]

@IraGilligan @CamMatheny You spent so much time looking into me its scary, worry about yourself.

[Pink Tax @PinkTax_CPA]

@cathstweet Wrong. I want a fall themed photo shoot for my business content (advertising and branding). the best place to get that is at the pumpkin patch. I had to buy tickets to get in. Tax deductible IMO.

[Pink Tax @PinkTax_CPA]

Well, that was weird 🎃