Hi!
Has your tax strategy actually kept up with your earnings and revenue growth, or are you still overpaying thousands every single year because no one planned around it?
Here’s the problem. As your income climbs – salary, business profit, rental income – the simple setup that worked early on quietly becomes too expensive. The IRS doesn’t flag what you overpay – they just keep it! Deductions go unclaimed, the wrong structure stays in place, and every extra dollar gets taxed higher than it needs to be.
Where most people leave money on the table:
- Your structure – if you’re self-employed or running a business and netting over $60k, you may be overpaying 15.3% in self-employment tax. Electing S-Corp status commonly saves $6,000–$15,000+ a year. The wrong entity – or none at all – costs you whether you’ve got a side hustle, one rental, or a full company.
- Rental property – every rental should be showing a depreciation deduction (27.5 years for residential), and a cost segregation study can accelerate $30,000–$70,000 into year one on a typical property. Run it as a short-term rental (average stay of 7 days or less) and materially participate, and the losses can even offset your W-2 income.
- Buying or selling – a rental, a vehicle, equipment: bonus depreciation and Section 179 on the buy side; on the sell side, a 1031 exchange or installment sale can defer or eliminate the capital gains and depreciation recapture you’d otherwise overpay tax on.
- Retirement – a Solo 401(k), SEP-IRA, or a defined-benefit / cash-balance plan can shelter anywhere from $7,000 to $300,000+ a year depending on your situation. One of the biggest write-offs people skip entirely.
- High-income moves – backdoor Roth, maxing your 401(k) and HSA, the QBI deduction (20% off qualified business income), and getting RSU or equity-comp withholding right (it’s almost always under-withheld). Easy thousands left on the table.
- The everyday deductions – home office, vehicle / mileage, the Augusta rule, hiring your kids, an accountable plan, charitable and medical timing – small individually, thousands a year combined, and routinely under-claimed.
- And there are hundreds of other situations where money gets left on the table!
The other side of the coin 🪙
Overpaying is expensive – but underpaying is risky. If your withholding and estimated payments haven’t caught up to your higher income, rental profit, or bonuses, you’re exposed to IRS underpayment notices, penalties, and interest. The goal is precision: owing exactly what’s due, and keeping every dollar that’s legally yours!
Whatever your situation – W-2 with a rental, self-employed, or running a business – structure and planning are where the real, lasting savings come from. We handle the whole thing in one place at a flat rate:
- Entity formation and structure selection – LLC, holding company, or S-Corp election, chosen around your actual situation, not a template
- Bookkeeping and payroll – so every deduction is tracked and your numbers stay clean and audit-ready
- Cost segregation coordination on properties where it pays off
- Personal and business / entity income tax return preparation, completed by the same team
- Year-round tax planning – so the strategy is set before year-end, while it can still change your bill
Instead of guessing, let us look at your situation. Reply to this email by Wednesday next week and we’ll set up a free 15-minute call to flag where you’re most likely overpaying, and tell you – before you spend a dollar – roughly what each fix is worth.
Sincerely,
—
George Dimov, CPA
Licensed and Insured
(833) 829-1120 toll free
(212) 994-8081 Fax
www.dimovtax.com