Ok, tax time around. LLC S-corp. My wife has her W2 and I do have mine. The profit is $100k. My tax accountant says I have to pay our tax bracket on this profit. In our case 30%. So $30k in taxes.
I get that I have to pay taxes but what is the best way to deal with this? I can’t predict the year end profit so I don’t want to pay quarterly.
How do you deal with this?
I would consult someone about real estate. If there’s a way to put thay as a down-payment for a property, you may be able to lower taxes substantially. BUT it has to be someone who really knows this, and your accountant doesn’t seem to be someone thinking out of the box. I’ve always worked with a tax attorney who filed my taxes and she is a shark!