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DIY Credit Repair

Unlock the opportunity to repair your credit yourself with our comprehensive guide. Take control of your financial future by leveraging our digital products, empowering yourself to navigate the steps necessary to repair your credit score. Our guide provides a roadmap to gain mastery over your credit, including resources like The 24-Hour Hard Inquiry Removal Guide, which can help you remove inquiries from the 3 major credit bureaus in 24 hours or less—all on your own. Seize this opportunity to take the first step towards reclaiming financial control and achieving a healthier credit score. Take action now and start your journey to financial empowerment!

Welcome to LMT Virtual Services

Your Trusted Partner in Virtual Tax and Financial Services—Serving You Anytime, Anywhere.

Welcome to LMT Virtual Services, your one-stop solution for all your tax and financial needs. Formerly known as Lawson Mobile Taxes, we've evolved to offer a comprehensive range of services that you can access from the comfort of your home or office. With our secure, user-friendly platform, managing your finances has never been easier.

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Why Choose Us

At LMT Virtual Services, we combine decades of professional expertise with cutting-edge technology to offer you unparalleled convenience and personalized service. Our team of certified experts is committed to staying ahead of industry trends and regulations, ensuring that you receive the most accurate and effective financial solutions. We understand that every individual and business has unique financial needs, which is why we take the time to understand your specific situation and tailor our services accordingly. Your security is our top priority; our platform employs state-of-the-art encryption and security protocols to safeguard your sensitive information. And when it comes to pricing, we believe in complete transparency—no hidden fees, no surprise charges. Choose LMT Virtual Services for a reliable, efficient, and personalized experience that goes beyond a one-size-fits-all approach.

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Expertise

Our team is composed of certified professionals with decades of combined experience in tax preparation, financial planning, and bookkeeping. We stay updated with the latest industry trends and regulations to provide you with the most accurate and effective solutions.

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Convenience

In today's fast-paced world, convenience is key. That's why we've designed our services to be as accessible as possible. Our secure online platform allows you to manage your financial matters at any time, from anywhere. No need to schedule appointments or travel; all you need is an internet connection.

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Personalized Service

Every individual and business has unique financial needs and goals. We take the time to understand your specific situation and tailor our services accordingly. From the initial consultation to the final delivery, you'll receive personalized attention that goes beyond a one-size-fits-all approach.

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Transparent Pricing

We believe in complete transparency when it comes to pricing. No hidden fees or surprise charges. You'll know exactly what you're paying for before we begin any work.

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Security

Your financial data is sensitive, and we treat it with the utmost care. Our platform uses state-of-the-art encryption and security protocols to ensure that your information is safe and confidential.

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Individual Tax Filing:

Tailored solutions for individual taxpayers to maximize deductions and credits.

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Business Tax Filing:

Comprehensive tax services for businesses, including corporate tax, sales tax, and payroll tax.

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Tax Planning:

Proactive strategies to minimize your tax liability throughout the year.

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Personalized Service

Every tax client needs are different. We are here for all your tax questions and needs.

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Audit Support:

Expert guidance and representation in case of an IRS audit.

Why choose lmt for your taxes!

Tax Preparation

At LMT Virtual Services, we've taken the complexity out of tax preparation and made it a seamless online experience. Our tax preparation services are designed to maximize convenience without compromising on accuracy or reliability. Utilizing state-of-the-art software and encryption technologies, we offer a secure platform where you can upload your tax documents, communicate with certified tax professionals, and even track the status of your tax return—all from the comfort of your home or office. Our team of experts stays abreast of the latest tax laws and regulations, ensuring that you benefit from every deduction and credit available to you. We offer a range of services that cater to both individual taxpayers and businesses, including income tax filing, tax planning, and audit support. With LMT Virtual Services, you're not just filing your taxes; you're making a strategic financial decision that could save you money and set you up for long-term success.

Additional Business Services Offered by LMT

Expert Guidance:

Our team of certified professionals has years of experience in tax preparation, financial planning, and bookkeeping. Clients can trust that they are receiving expert advice tailored to their specific financial situation.

Personalized Solutions:

We understand that each client has unique financial needs and goals. Our services are customized to meet these individual requirements, providing a more effective and personalized financial strategy.

Convenience & Accessibility:

Our services are fully virtual, allowing clients to manage their financial affairs at their own convenience. Whether it's late at night or during the weekend, our online platform is accessible 24/7.

Secure & Confidential:

Security is a top priority at LMT Virtual Services. Our online platform uses advanced encryption and security protocols to ensure that clients' sensitive financial information is protected at all times.

Comprehensive Service Offering:

From tax preparation and financial planning to bookkeeping and investment advice, we offer a wide range of services. This means clients can manage all their financial needs in one place, saving time and effort.

Transparent Pricing:

No hidden fees or surprise charges. Our pricing is transparent, allowing clients to know exactly what they are paying for. This builds trust and eliminates any financial uncertainties.

Our Story

Founded as Lawson Mobile Taxes, our humble beginnings were rooted in the local community where we provided mobile tax services to individuals and small businesses. As we recognized the growing need for more comprehensive and accessible financial solutions, we evolved into LMT Virtual Services. Today, we are proud to be a full-service virtual financial firm that serves clients across the nation. Our journey has been marked by a commitment to innovation, a deep understanding of the financial landscape, and an unwavering dedication to our clients. We've expanded our offerings to include a wide range of services—from tax preparation and financial planning to bookkeeping and investment advice. But despite our growth, our core values remain the same: reliability, efficiency, and personalized service. We've embraced technology to make financial management easier and more convenient for our clients, but we've never lost sight of the personal touch that sets us apart. At LMT Virtual Services, we're not just your financial service providers; we're your partners in achieving your financial goals.

Our Mission

At LMT Virtual Services, our mission is to revolutionize the way individuals and businesses approach financial management. We are committed to providing reliable, efficient, and highly personalized financial services that go beyond mere transactions. Our aim is to serve as a comprehensive resource for all your financial needs, from tax preparation and financial planning to bookkeeping and investment advice. We leverage cutting-edge technology to make our services accessible and convenient, without sacrificing the personal touch that is so crucial in financial dealings. We believe that financial management should be transparent, understandable, and tailored to the individual needs of each client. Through continuous innovation, rigorous professionalism, and uncompromising ethical standards, we strive to exceed expectations and set new benchmarks for excellence in virtual financial services. Our ultimate goal is to empower our clients to make informed financial decisions, achieve their financial goals, and secure a prosperous future.

Our Core Ethics

Bookkeeping Services

Maintain accurate financial records with our comprehensive bookkeeping services. This includes tracking expenses, managing invoices, and preparing financial statements.

Business Consulting

Maintain accurate financial records with our comprehensive bookkeeping services. This includes tracking expenses, managing invoices, and preparing financial statements.

Automated Marketing Funnels

Leverage the power of automated marketing funnels to nurture leads and convert them into paying clients. This service includes setting up email sequences, landing pages, and tracking analytics.

SMS Marketing

Reach your clients directly through SMS. This service includes setting up automated text messages for appointment reminders, promotions, and updates.

Client Relationship Management (CRM)

Manage all your client interactions and data in one place. Our CRM service helps you keep track of client communications, appointments, and important milestones.

SEO Services

Improve your website's search engine ranking with our SEO services. This includes keyword research, on-page optimization, and backlink strategies.

Reputation Management

Monitor and manage your online reputation. This service includes tracking reviews, responding to feedback, and implementing strategies to improve your online ratings.

Virtual Assistants

Outsource routine tasks to our virtual assistants so you can focus on growing your business.

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LMT TAX TALK

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Self-Employed Taxes: What You Should Know

March 02, 20242 min read

As the gig economy continues to thrive and more individuals pursue freelance work or start their own businesses, understanding self-employment taxes becomes essential. In this guide, we'll break down everything you need to know about self-employment taxes, including what they are, how they're calculated, and essential tips for managing them effectively.

Self-employment taxes are taxes that self-employed individuals must pay to fund Social Security and Medicare. Unlike traditional employees who have payroll taxes withheld from their paychecks, self-employed individuals are responsible for paying both the employer and employee portions of these taxes, known as the self-employment tax.

Calculating Self-Employment Taxes

To calculate self-employment taxes, you'll need to determine your net earnings from self-employment. This includes income from freelancing, consulting, or running your own business, minus any deductible business expenses. The self-employment tax rate for 2024 is 15.3%, which consists of 12.4% for Social Security (up to a certain income limit) and 2.9% for Medicare. However, you can deduct half of your self-employment taxes as an adjustment to income.

Quarterly Estimated Tax Payments

Since self-employed individuals don't have taxes withheld from their pay like traditional employees, they are required to make quarterly estimated tax payments to cover their federal income tax and self-employment tax liabilities. Failing to make these estimated payments can result in penalties and interest charges. It's essential to calculate your estimated tax liability accurately and make timely payments throughout the year to avoid any surprises come tax time.

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Tax Deductions and Credits for the Self-Employed

One of the advantages of self-employment is the ability to deduct business expenses to reduce your taxable income. Common deductible expenses for the self-employed include home office expenses, business-related travel, equipment purchases, and health insurance premiums. Additionally, self-employed individuals may be eligible for certain tax credits, such as the Earned Income Tax Credit (EITC) or the Self-Employed Health Insurance Deduction.

Record-Keeping and Documentation

Maintaining accurate records is crucial for self-employed individuals to ensure compliance with tax laws and maximize deductions. Keep detailed records of all income and expenses related to your business, including receipts, invoices, and bank statements. Using accounting software or hiring a professional bookkeeper can help streamline this process and ensure that you're prepared for tax time.

Navigating self-employment taxes can seem daunting, but with a clear understanding of the tax rules and proper planning, you can manage your tax obligations effectively. By staying organized, keeping accurate records, and seeking professional guidance when needed, you can minimize your tax liability and focus on growing your business. Remember, proactive tax planning is key to success as a self-employed individual.

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LMT VIRTUAL SERVICES is here to support you every step of the way. Whether you need assistance with tax preparation, planning, or compliance, our team of experts is ready to help. Contact us today to learn more about our services and how we can help you achieve your financial goals as a self-employed individual.

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