Thank you Sherman. I'm beyond frustrated with the many CPAs I've worked with. They all overpromise and under deliver 😢😢. Not one has EVER made one suggestion to mitigate my tax liabilities. I'm exhausted and wish I didn't need one, but the IRS makes it impossible 😭😭😭.
Mind blown! I just realized that even if I make $240,000 this year, not all of it will be taxed at 32%. The first 11k is taxed at 10%, the next 11k+ to 47k is taxed at 12%, 47k+ to 100k taxed at 22% and so on up the scale. Only about 50k will be taxed at 32%. I had no idea until you mentioned it at 2:00. I always do my own taxes and I wondered why the actual taxes I pay are always much lower than the bracket I'm supposed to be in. LOL! Wow! I'm usually in a 24% bracket, but was scared to death because I'll be bumped up to 32% this year.
