BASED ON A TRUE STORY

Investor | Car Enthusiast | Tax Strategist🧞‍♂️

[BASED ON A TRUE STORY @melloprofits]

I took off just like a rocket 🚀

[BASED ON A TRUE STORY @melloprofits]

Blessed 💯

[BASED ON A TRUE STORY @melloprofits]

Been getting a lot of DMs since January… I’m only doing tier 3 mentorship for Car Rental Business.

$5k 🤝

[BASED ON A TRUE STORY @melloprofits]

📌 Tax filing deadline for business owners - March 15th, 2023:

• SCorp Tax Return

• Partnership Tax Return

If you are unable to meet the deadline, you should file extension asap.

[BASED ON A TRUE STORY @melloprofits]

1031 Exchange Benefits ⤵️

•Repeat 🔁 this cycle as many times as you want.

•High net worth individuals use this strategy to avoid paying taxes & create generational wealth through asset protection

•If they pass away the properties goes to their heirs tax free.

[BASED ON A TRUE STORY @melloprofits]

•You have 45 days to identify another property & close on it within 180 days to meet the requirements

•Property value has to be equal to or greater than your previous one

•The 1031 exchange company holds funds until the purchase of another property

[BASED ON A TRUE STORY @melloprofits]

How Investors Avoid TAXES (1031 Exchange Explained)…

The 1031 exchange allows you to defer capital gains tax when you sell an investment property.

Capital Gains tax is usually 15-25%

Once your investment property is sold the process begins…

Read more 👉🏾

[BASED ON A TRUE STORY @melloprofits]

Meals for 2023 are back to 50% deductible 😢

[BASED ON A TRUE STORY @melloprofits]

If you don’t have the time or energy to file your 1099s reach out to me, let’s get the job done & avoid any penalties 🙅🏾‍♂️🚫

Book a FREE Consultation 📲

#TacticalTax

[BASED ON A TRUE STORY @melloprofits]

Steps to file 1099s:

1. Collect Form W-9 from all vendors before they can get paid

2. File 1099 w/ IRS by deadline

3. File with state taxing authority (if applicable)

4. Distribute a copy to individuals, who then file it with their tax return

5. Keep a copy for your records

[BASED ON A TRUE STORY @melloprofits]

BUSINESS OWNERS LISTEN UP 🗣️

If you hired service providers or contractors & paid them over $600 you have to file a 1099 form.

Deadline to file 1099s is January 31st.

Don’t get penalized ❌
Just get it done ✅

👉🏽

[BASED ON A TRUE STORY @melloprofits]

This allows you & your family to start more businesses, invest in real estate, create passive income, pay for college tuition, etc..

The options are unlimited, for more info DM me or click the link in bio for a FREE consultation 📲

[BASED ON A TRUE STORY @melloprofits]

A Few Life Insurance Benefits 🧐☑️

1. Life Insurance Protection
2. Growth Potential 💲
3. Index Account Options 📈
4. Protection against downside risk
5. Tax Advantages
6. Tax Free Access
7. Tax Deferred Earnings
8. Tax Free Loans & Withdrawals
9. Tax Free Death Benefit

[BASED ON A TRUE STORY @melloprofits]

Your child can obtain 6 figures by the age of 18 & become a millionaire WAY before retirement just by setting up a Whole Life Policy 🏁

Certain policies allow you to take advantage of your money while your alive & provide a death benefit when you pass. That’s real wealth 🤯

👉🏾

[BASED ON A TRUE STORY @melloprofits]

In 2023, if you have a business & hire your kids, your able to pay them up to $13,850…

Your child won’t owe $ in taxes & you reduce your tax liability by $13,850 (for each child under 18).

Invest that money into a Life Insurance Policy.

👉🏾👉🏾

[Tactical Tax @TacticalTaxPrep]

Turn your hobby into a business, then turn your expenses into a write off ✍🏾

[BASED ON A TRUE STORY @melloprofits]

Im goin professional attire & business casual all next year 📈

[BASED ON A TRUE STORY @melloprofits]

Really working with S corps. & C corps. 📈

[BASED ON A TRUE STORY @melloprofits]

Money just falling from the trees at this point 🙌🏾

[BASED ON A TRUE STORY @melloprofits]

Blessed 🙏🏾