JT Pells, CPA

Helping trade business owners pay less in taxes—without doing anything sketchy | CPA | 200+ clients served

[JT Pells, CPA @JTPellsCPA]

@andreamacdcpa @Taxsavvyjessica @digits I had the same experience with digits. It’s too fast and I couldn’t tell how it was “learning.”

[JT Pells, CPA @JTPellsCPA]

@LoganGrafTax In all fairness whenever I hear someone say this, I take it with a grain of salt. When we sign someone who wants more proactive communication, they are incredibly slow to respond.

[JT Pells, CPA @JTPellsCPA]

@ClayTravis It’s amazing we don’t teach how prepare your own taxes. I took an income tax class in college and then realized there aren’t any tax secrets. I thought people who got refunds just knew secret tax magic

[JT Pells, CPA @JTPellsCPA]

@cptdankkk What happens when said athlete doesn’t listen to advice. Should the agent force the athlete to make said financial move?

[JT Pells, CPA @JTPellsCPA]

Now this is a simplified scenario, but this is to show the impact of how you spend money can impact your taxes differently.

[JT Pells, CPA @JTPellsCPA]

Here is why 2 businesses that make the same amount of money can owe different amounts in taxes.

[JT Pells, CPA @JTPellsCPA]

A $25,000 deduction in the 22% tax bracket saves someone $5,500 in taxes.

A $5,000 credit saves you $5,000.

[JT Pells, CPA @JTPellsCPA]

@StumpGuyTy Million dollar idea if executed correctly. I've worked with lots of marketing agencies and know others in the accounting industry and not one has had a great experience with said agencies

[JT Pells, CPA @JTPellsCPA]

@diegometrotax Ordinary and necessary

[JT Pells, CPA @JTPellsCPA]

Before going out and buying a piece of equipment you don't need. Make sure that you look in your own back pocket before doing something like this.

[JT Pells, CPA @JTPellsCPA]

If I owned a business in a high taxed state like California, here is how I would cut my tax bill without having to buy a truck I don't want.👇

[JT Pells, CPA @JTPellsCPA]

So instead of paying your personal taxes and losing out on a business deduction, you can pay the same amount and get a federal tax deduction.

[JT Pells, CPA @JTPellsCPA]

None of these were secret loopholes.

They were opportunities that had simply been overlooked.

That's what good tax planning looks like.

[JT Pells, CPA @JTPellsCPA]

If you own an S Corp and think the only way to lower your taxes is to spend more money, read this.

[JT Pells, CPA @JTPellsCPA]

3. Implemented a home office reimbursement.

He wasn't reimbursing himself for the business use of his home.

That created another ~$1,200 of annual tax savings.