Financial Horizons: Insights for Building Wealth and Securing Your Legacy
By Dr. Jose G. Cardenas, Chief Tax Strategist at The C & R Group, LLC.
Tax rules shift constantly—brackets move, credits phase in, filing rules change, and states update sales/payroll requirements. You don’t need to read the whole code; you need a repeatable system that turns updates into action.
Why this matters
- Cash flow: New limits and credits can lower (or raise) what you owe.
- Compliance: Late reactions = penalties and notices.
- Strategy: Timely moves (entity elections, depreciation choices, retirement funding) create durable savings.
The “S-A-A” Update System (Source → Advisor → Action)
1) Source (what to watch)
- IRS & state tax email bulletins; payroll/benefits portals
- Trusted industry outlets (verify on IRS/state sites)
- Marketplace/platform notices (e-commerce, gig, SaaS)
2) Advisor (who translates it)
- Quarterly check-ins with your tax strategist (align with estimated tax dates)
- Shared “Tax Change Tracker” noting: what changed, why it matters, decision, deadline
3) Action (what to do)
- Update withholding/estimates after law or income changes
- Recode products for sales-tax taxability; confirm marketplace facilitator coverage
- Adjust depreciation/expensing, QBI (§199A) planning, and retirement limits
- Refresh accountable plan, mileage rates, per-diems, and state registrations
High-impact items to review each year
- Federal/state brackets & standard deduction
- Retirement limits (401(k), IRA, SEP, SIMPLE, catch-ups)
- Energy & efficiency credits (home/business)
- Bonus depreciation/§179 and auto limits
- Pass-through QBI rules & phaseouts
- Sales tax nexus growth (economic/physical) and product taxability
- State PTE (pass-through entity) taxes & SALT workarounds (where available)
Quarterly cadence (15–30 minutes each)
- Q1 (by Jan 15): confirm prior-year carryforwards; set estimates/withholding
- Q2 (by Apr 15): entity/comp review (S-Corp salary, distributions)
- Q3 (by Jun 15): sales-tax nexus check; midyear depreciation plan
- Q4 (Oct–Dec): harvest gains/losses; fund retirement; time income/expenses
Common mistakes to avoid
- Assuming marketplaces collect all your sales tax (they may not cover your site/ERP orders).
- Registering in extra states “just in case” (creates needless filings).
- Missing year-end windows (elections, bonus depreciation, retirement funding).
- Waiting for April—most savings require pre-year-end action.
Tax Pro Tips
- Keep a live Change Tracker (sheet or CRM note) with rule → impact → owner → deadline.
- Park collected sales tax in a separate account so it’s never spent.
- Schedule automatic calendar alerts for federal/state due dates + advisor check-ins.
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About the Author
Dr. Jose G. Cardenas is a retired U.S. Army Finance Officer and the Chief Tax Strategist at The C & R Group, LLC. With a Doctorate in Business Administration and over 20 years of experience in financial strategy, tax planning, and life insurance, Dr. Cardenas helps individuals and business owners protect their wealth and build a legacy. Learn more at www.thecrgroupllc.com.
📌 Disclosure:
This article is for educational and informational purposes only and is not intended to serve as personalized legal or investment advice. Dr. Jose G. Cardenas, DBA, provides tax advisory services through The C & R Group, LLC. Insurance strategies, including Indexed Universal Life (IUL) and annuity products, may be offered through his role as a licensed financial professional affiliated with Experior Financial Group.