Corey Kramer, CPA, CFP®

Dad, husband, CPA firm owner

[Corey Kramer, CPA, CFP® @coreykramer]

This is not tax or financial advice and is for educational purposes only. Consult your tax, financial, and legal advisors (not TikTok) to review the facts and circumstances of your specific situation.

[Corey Kramer, CPA, CFP® @coreykramer]

Folks, a deduction is not a cash rebate.

Spending more to chase write-offs still leaves you poorer after the tax savings.

Here's how it actually works 🧵

[Corey Kramer, CPA, CFP® @coreykramer]

Before you spend to "save on taxes," ask two questions.

Would I buy this if there were no deduction?

Is this ordinary and necessary for my business, or am I pretending a mostly personal expense has a real business purpose?

If you can't honestly answer yes to both of those questions, have a quick chat with your CPA before assuming you can write it off.

[Corey Kramer, CPA, CFP® @coreykramer]

I don’t think that. What I do think is that the data center discourse has been hijacked by people who don’t have America’s best interest in mind.

[Ron DeSantis @RonDeSantis]

There is a subtext of “golf courses are useless and we are so important.” It’s fine if you think that; there are just a lot of people who disagree.

[Corey Kramer, CPA, CFP® @coreykramer]

@RonDeSantis It’s not an attack on golf courses gov it’s an attack on the hypocrisy of the data center hysteria

[Corey Kramer, CPA, CFP® @coreykramer]

Ibuprofen is one of the greatest inventions of all time

Have a headache? Take this tiny pill and it will be gone in a few minutes

Amazing

[Corey Kramer, CPA, CFP® @coreykramer]

@DailyLoud Why are they shaking with their left hand tho

[Corey Kramer, CPA, CFP® @coreykramer]

This is not tax or financial advice and is for educational purposes only. Consult your tax, financial, and legal advisors (not TikTok) to review the facts and circumstances of your specific situation.

[Corey Kramer, CPA, CFP® @coreykramer]

The type of entity you choose for your business has a huge impact on your tax bill.

There's not always a clear right answer, but there is usually a clear wrong answer.

Here are the pros and cons of each from a tax perspective 🧵

[Corey Kramer, CPA, CFP® @coreykramer]

C corporation.

Pros: the company is its own taxpayer, which can matter if you keep earnings in the company. Eligible for QSBS (IRC 1202).

Con: profits can be taxed at the company level and again when paid out as dividends (double taxation). Requires an additional tax return.

[Corey Kramer, CPA, CFP® @coreykramer]

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[Craig Hausz, CPA @CPATaxTeam]

For the record: Complexity is the hidden tax inside every business.

Every exception you allow becomes a decision.
Every decision becomes a meeting.
Every meeting becomes a delay.

The same is true in your financial life.

Every account you have that isn't part of a strategy is complexity you're paying for without knowing it.

Simplify the structure. It pays you back.

[Corey Kramer, CPA, CFP® @coreykramer]

@SheTalksFinance Same. Buncha doomers out there. It’s like having your own personalized, on demand tutor on any topic.

[Corey Kramer, CPA, CFP® @coreykramer]

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