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Well Done Tax & Business Services

Well Done Tax & Business Services

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Tax Preparation • Creative & Communications Services

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The IRS announced it's intensifying efforts to ensure tax compliance among high-income taxpayers who have neglected to file federal income tax returns since 2017. With funding from the Inflation Reduction Act, over 125,000 compliance letters will be sent out, targeting individuals annually earning over $1 million and those earning between $400,000 and $1 million between 2017 and 2021. ... See MoreSee Less

High income W2 wage earners do not have many good options for lowering their income tax liability. The ultra rich use certain strategies to significantly lower their taxes. Those strategies are not available to w2 wage earners.

In order to get to the place where you can use the same strategies, you have to make some sacrifices and put forth money management efforts for a few years using your w2 wages. This means paying higher taxes now so you can practically avoid taxes in the future.

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