Financial ID Capital, LLC

Tax Compliance: Ensuring all your taxes are filed correctly, that your taxes are paid, and that you comply with all local, state and federal tax requirements. Doing the bare minimum. Tax Planning: Proactively looking for legal ways to reduce your tax liabilities. It requires deep knowledge of your specific tax situation, tax laws and proper use of entities (i.e. LLCs, Corporations, etc). Tax planning should take place throughout the year. The biggest difference between the tw...o is that one is reactive and one is proactive and can save you THOUSANDS! Have you been tax planning? Click the link https://calendly.com/financialid to get on our calendar.

There has been a lot of talk about normalizing luxury. We’ve already been doing that for years. Let’s normalize acquiring assets and letting passive income pay for luxuries. Don’t know where to start or how to get to the next step? You don’t have to do it alone. Click the link in bio to check out the Legacy Think Tank.

Third quarter is almost done and if you haven’t been tax planning you should start NOW. Tax planning can include making changes during the year that can lower a taxpayer’s AGI before the calendar year ends. Here are a couple things taxpayers can do now to lower their AGI (adjusted gross income): Know how adjusted gross income affects taxes according to your tax bracket. A taxpayer’s AGI and tax rate are important factors in figuring their taxes. AGI is their income from all s...ources minus any adjustments or deductions to their income. Generally, the higher the AGI, the higher their tax rate, and the more tax they pay. - Tax planning can include making changes during the year that can lower a taxpayer’s AGI before the calendar year ends. The taxpayer could: Contribute to a Health Savings Account. Claim educator expenses if they’re a qualifying educator. Pay student loan interest. A full list is on Schedule 1 of Form 1040. Save for retirement Retirement savings can also lower AGI. Contributing money to a retirement plan at work like a 401(k) plan can reduce a taxpayer’s AGI. Investing in a traditional IRA plan is another way to save for retirement and lower AGI. Self-employed SEP, SIMPLE, and qualified plans are also retirement options that can lower AGI.

Set the goal, write it down, and execute. Don’t be afraid to invest in your business if it’s going to you to the next level. If you can’t afford it create a budget for it. Don’t stand in your own way of your first $1,000,000. We Teach Financial Literacy - But thats not all! The Legacy Think Tank teaches you how fund any business($60,000-$250,000), start any business, automate any business, and Create online portals So what are you waiting for? Click the link in our bio!... #wealthbuilding #creditrepair #financialliteracy #credit #creditsweep #credittip #money #gold #finance #wealth #WomenInBusiness #wisdom #selfemployed #entrepreneurs #business #businessstrategy #businesscredit #businessfunding #dunsandbradstreet See more

The best time to invest was yesterday. The second best time is NOW! You must invest your time, energy, and yes it takes some money too. . . The Legacy Think Tank gives you access to our highly qualified professionals to assist you in your business and entrepreneurial journey. .... Every business requires a solid understanding of your personal finances as well as your business accounting. . Why struggle doing things all by yourself? When you can have the right team and the right people around you. Click the link in our bio to get started today! See more

Join @chefahki and Mr. Banks tonight for a conversation of the state of our current financial health and what you could be doing to stay above America’s Wealth Transfer.

What does this look like for the entrepreneur? Accounting... We can’t skip the ACCOUNTING step! Not only do you need proper financials to file your taxes you want to have it in case of an audit. Keep in mind just because you don’t file doesn’t mean they don’t know. #SmallBusinessTip: Financial statements, or reports, are formal representations of the financial activities of your business. There are three BASIC types, each presenting different information that may be of intere...st to varying stakeholders for varying reasons: An income statement shows a business’s profits and losses, including income and expenses. Statements are usually prepared monthly, or at least quarterly. A balance sheet is a snapshot of a company’s financial position at a given point in time. It shows a company’s assets, liabilities and net worth. A cash flow statement reveals a business’s sources, uses and balance of cash, particularly its operating, investing and financing activities. For the DIY entrepreneur check out our financial literacy courses on the Legacy Think Tank. Link in bio.

It’s something about the outdoors and spending time with the family! Being entrepreneurs allows you the freedom to enjoy the most precious things about life. What most don’t realize is that starting a business is like flying a plane. You have to make sure everything is working properly before you takeoff. Just like the plane in the picture. The owner landed the plane in GA with hopes of flying it to Alaska. That was 17 years ago and a quarter million to get back in the ai...r. Good thing he was able to land the plane. But for most of you starting a business can end in a crash landing ! Over the years we have seen those crashes and those safe landings. Come learn how to get you dream off the ground. @myfinancialid or www.thelegacythinktank.com #blackeconomics #businessowner #entrepreneur #familytime #freedom #businesscredit #planes #2020denali3500 #madeinamerica See more

I think the challenges that some of you are facing is the perception of time. You think you have more time to make that move or get it completed. I bet you didn’t think a global pandemic would happen either and change your normal. Think about what it cost you... not the upfront cost to invest but the actual cost of not doing so. You ever think about that? Be intentional about your organization. Stop getting ready when you need something or something presents itself, but rather be in position to receive the blessing or tackle whatever it is head first because you have things in order. More pro-action > less re-action.

Who wants to leverage their business credit to purchase equipment and Land? I am teaching the next 10 people into my mentorship. Serious inquires only. How to work from home? How to earn 6 figures a year with a credit repair business! Plus up to $60,000 funding. #financialid #assets #financialliteracy #entrepreneurlife #farming #businesscredit

Is your job secure? https://podcasts.apple.com/.../6-days-a-week/id1526723846