Are You Paying Too Much in Taxes? How to Tell If You're Overpaying and What to Do About It

For many entrepreneurs, the thought of overpaying taxes is not just frustrating—it’s maddening. You’ve worked hard to build your business, and every dollar that goes unnecessarily to taxes is money that could have been reinvested into your company, employees, or even your personal life. But how can you tell if you’re paying too much, and more importantly, what can you do about it?

How much do you accidently shred each year?

Signs You Might Be Overpaying

1. You Haven’t Reviewed Your Tax Strategy in Over a Year: Tax laws change constantly, and what worked last year might not work now. Without a proactive review, you could be leaving money on the table.

2. You’re Using Generic Tax Solutions: Every business is different, but many accountants use one-size-fits-all strategies. If your CPA isn’t tailoring their approach to your business, you’re likely overpaying.

3. You’re Not Taking Advantage of Deductions: From home office expenses to vehicle deductions and depreciation, there are countless ways to lower your taxable income. Missing even one can be costly.

4. You Fear the IRS: If your accountant is too conservative because they fear an audit, you might be playing it safer than you need to. Aggressive, yet defendable, strategies exist to minimize your ta

   x burden without crossing legal lines.

What Can You Do?

The good news is that you don’t have to accept overpaying as the cost of doing business. Here are actionable steps to ensure you’re keeping more of your hard-earned money:

1. Work with a Tax Strategist: At Striv, we build a year-round strategy to maximize your savings. Our aggressive yet defendable approach means we’re always looking for ways to reduce your liability while keeping you compliant with IRS regulations.

2. Leverage Business Deductions: Are you fully utilizing deductions like Section 179 for equipment, retirement contributions, or health insurance premiums for employees? If not, you’re missing out on significant savings.

3. Incorporate Smartly: The structure of your business—LLC, S-Corp, or C-Corp—can have a huge impact on how much you pay. We evaluate your situation to ensure your setup is optimal.

4. Stay Proactive: Taxes are fluid. By staying proactive and partnering with a CPA who understands entrepreneurs, you’ll uncover opportunities to save all year long.

Why Striv Is Different

At Striv, we pride ourselves on being more than accountants—we’re advocates. As entrepreneurs ourselves, we understand the challenges of running a business. That’s why we fight for every dollar you deserve. Our goal is simple: to help you pay the least amount of taxes legally possible, so you can reinvest in your success.

Don’t let uncertainty or outdated strategies hold you back. Reach out to Striv today and find out if you’re paying too much in taxes—and how we can fix it.