You know what they say about death and taxes, right? They're the only two certainties in life. But, plot twist. What if you could delay the inevitable, at least when it comes to your taxes? Before you start planning your tax rebellion, let me assure you, we are not advocating for any illegal activities here. We're all about making smart, calculated moves, especially when it involves a potential house flip or rental opportunity.
Meet my client, let's call him Bob. Bob is a savvy entrepreneur who found himself with a unique dilemma. He had an opportunity to buy a fixer-upper house that held the potential of being a gold mine. But, there was one catch - he would have to delay paying his taxes. Now, before you gasp in horror, let me explain.
Bob posed a simple question: "Can I delay paying my taxes for a year?" Most folks would instantly respond with a stern "No!" But when it comes to business decisions, the answer isn't always black and white. It often lies in the grey area, where numbers and results hold sway. So, Bob and I sat down and crunched some numbers. We analyzed scenarios, considered the cost of buying the house using his tax dollars, and assessed the potential returns from either flipping the house or renting it out to his employees.
Now, I can hear you shouting, "But what about the IRS?" Well, we didn't forget about Uncle Sam. We calculated the cost of interest and penalties for delaying Bob's $60,000 tax payment by a year.
The result? A real-life decision based on hard facts and figures, not just a hopeful guess. That's the power of having someone in your corner, helping you make calculated moves.
So, if you're curious to find out what happened with Bob's tax dilemma and his potential house flip or rental property, dive into our full article. Let's just say, it's always best to leave it to the pros, whether it's fixing up a house or navigating the ebbs and flows of business finance.
Remember, life may be tough, but together we can chart a course to smooth sailing and tranquil waters. So, come aboard, matey, let's conquer the seas of entrepreneurship together!
Donna Bordeaux, CPA with Calculated Moves
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.