Lonnie Hinchen, EA

Enrolled Agent. Here to help small business owners live Tax Free

[Lonnie Hinchen, EA @taxlon_]

Tax season is officially underway!

I’m currently accepting a limited number of new clients, including:
• W-2 employees
• Business owners
• Self-employed individuals

If you want your taxes handled correctly and would like to avoid overpaying, now is the time to get in before the deadline rush.

[Investors Domain @investorsdomain]

My biggest flex honestly is that God never took his hand off me

[Lonnie Hinchen, EA @taxlon_]

Just secured my biggest audit W yet. Client went from owing 1.2 million to a $821 refund.

[Lonnie Hinchen, EA @taxlon_]

As an Enrolled Agent with audit defense experience, I can tell you a lot of the advice some of these social media tax pros are giving you will land you in an audit. Don’t believe everything you see on the internet.

[Lonnie Hinchen, EA @taxlon_]

Friendly reminder that you do NOT need an LLC to write off business expenses

[Lonnie Hinchen, EA @taxlon_]

But I want to build long lasting relationships and put people in position to change their lives.

[Lonnie Hinchen, EA @taxlon_]

I get business is business and when conducting business and every relationship/transaction doesn’t need to be more than that. But I prefer genuine shit in every aspect of my life , I don’t want play a part or build fake relationships just for money.

[Lonnie Hinchen, EA @taxlon_]

If I’m going to rock with you it’s because I really rock with you & want to provide massive value. Now do you still have to pay for my services, hell yeah. The game is to be sold. But I’m always showing love. May not be the best business practice to make money lots of money fast

[Lonnie Hinchen, EA @taxlon_]

Parlays haven’t been hitting huh ? It’s all good! You can deduct your gambling losses up to the amount of that you’ve won.

Ex: You lost 5,000 betting on the Eagles but you won $2,000 from another bet. You can deduct up to $2,000

[Lonnie Hinchen, EA @taxlon_]

It’s officially the first day of Tax Season! Let’s go 🔥

[Lonnie Hinchen, EA @taxlon_]

I will be accepting eggs as a form of payment this tax season

[Lonnie Hinchen, EA @taxlon_]

If you are a business owner/RE Investor/ high income earner, your tax professional is one of the most important people in your circle. Who else is going to show you how to KEEP the bag?

[Lonnie Hinchen, EA @taxlon_]

Today the IRS announced that Tax season will start January 23rd, 2023 and the filing deadline will be April 18th, 2023.

[Lonnie Hinchen, EA @taxlon_]

It's important to consult with a financial advisor or tax professional to determine which type of IRA is best for you based on your individual circumstances.

[Lonnie Hinchen, EA @taxlon_]

Yesterday I got the questions what are Roth and Traditional IRAs and which one should.

Here’s a breakdown of the two retirement accounts: A THREAD

[Lonnie Hinchen, EA @taxlon_]

If you think you will be in a higher tax bracket in retirement, a Roth IRA can be more beneficial. If you believe you will be in a lower tax bracket in retirement and want to lower your taxes now, a Traditional IRA might make more sense.