Nicole M. Albrecht

4 weeks ago | thevalleybusinessjournal.com | Nicole M. Albrecht

Look, folks, the IRS doesn’t play games, and if you’re running a business, you better believe they’ll come knocking if you mess up your taxes. Too many business owners are leaving money on the table or, worse, setting themselves up for a financial disaster. Here are the biggest tax mistakes you need to stop making—right now. 1. Mixing Personal and Business FinancesIf you’re swiping your business card for personal expenses or vice versa, you’re asking for trouble.

1 month ago | thevalleybusinessjournal.com | Nicole M. Albrecht

With Donald Trump back in the White House, major tax law changes could be on the horizon. Many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) are set to expire at the end of 2025, creating an opportunity for potential extensions and new policies. During his first term, Trump’s tax overhaul nearly doubled the standard deduction, increased the child tax credit, lowered individual tax rates, and introduced a 20% deduction for qualified business income (QBI).

2 months ago | thevalleybusinessjournal.com | Nicole M. Albrecht

Tax season doesn’t have to be stressful or costly. Yet, many business owners wait until the last minute to address their taxes, leading to missed deductions, unnecessary penalties, and cash flow surprises. The solution? Proactive, year-round tax planning combined with a simple preparation strategy. Here’s how to take control of your taxes, reduce stress, and maximize savings.

Nov 29, 2024 | thevalleybusinessjournal.com | Nicole M. Albrecht

As 2024 comes to a close, it’s the perfect time to review your finances and take proactive steps to reduce your tax bill. Here are some strategies to help you save before the year ends:1. Maximize Contributions to Retirement PlansTake full advantage of your workplace retirement plan. For 2024, you can contribute up to $23,000 to your 401(k) or similar plan—or $30,500 if you’re age 50 or older, thanks to the catch-up provision. Contributions lower your taxable income and build long-term savings.

Oct 31, 2024 | thevalleybusinessjournal.com | Nicole M. Albrecht

My name is Nicole, and I founded Elite Tax Partners because I realized something crucial was missing in the traditional model—heart. Dissatisfied with the impersonal approach of larger firms, I set out to build a company where values are not just talked about but lived and breathed in every interaction. I wanted to create a business driven not by profits but by purpose. At Elite Tax Partners, we’re more than a tax firm—we’re a team that’s built on relationships and doing things the right way.