Kingdom Financial Solutions

Kingdom Financial Solutions Kingdom Financial Solutions specializes in accounting services for individuals as well as businesses.

Lost money on a house flip? Don’t assume you can only deduct $3,000.Depending on how your real estate activity is classi...
09/01/2026

Lost money on a house flip? Don’t assume you can only deduct $3,000.

Depending on how your real estate activity is classified, you may potentially be able to deduct the entire loss in the current year.

The key question: Does the IRS consider you an investor or a real estate dealer?

An investor generally faces the $3,000 annual limitation on net capital losses against ordinary income.

But if your flipping activity qualifies as a business and you’re considered a dealer, qualifying losses may be able to offset ordinary income in full.

The IRS can look at factors like:

✔️ Why you purchased the property
✔️ The renovations you completed
✔️ How quickly you marketed it for sale
✔️ Whether you operated like a business
✔️ Your overall intent

There are tradeoffs, though. Dealer status can change how future profits are taxed and affect strategies such as 1031 exchanges.

The takeaway: How you structure and document your real estate activity matters.

Before your next flip, make sure you understand the tax implications.

Call Kingdom Financial Solutions at 860-490-9741 to discuss your tax strategy.

Meet Steve Bibisi, Owner of Kingdom Financial Solutions.For Steve, taxes have never been about simply filing a return on...
08/24/2026

Meet Steve Bibisi, Owner of Kingdom Financial Solutions.

For Steve, taxes have never been about simply filing a return once a year. They’re about understanding the tax code, planning ahead, and helping people keep more of what they’ve worked hard to earn.

Since founding Kingdom Financial Solutions in 2009, Steve has helped individuals, families, and business owners with:

-Tax Preparation
-Proactive Tax Planning
-Accounting & Business Consulting
-Bookkeeping & Payroll
-IRS & Audit Support
-Retirement & Financial Planning

What makes Kingdom different?

We don’t just tell you what you owe. We help you plan for what’s next.

Whether you're building a business, preparing for retirement, or simply wondering if you're paying more in taxes than necessary, Steve and the Kingdom Financial Solutions team are here to help you develop a strategy.

Because good tax planning shouldn't only happen during tax season.

860-490-9741

What if you could keep more of your retirement income and send less of it to taxes?Join us for our next Ask the Accounta...
08/18/2026

What if you could keep more of your retirement income and send less of it to taxes?

Join us for our next Ask the Accountants Zoom seminar:

Planning for a Tax-Free Retirement for Individuals

We’ll break down how the decisions you make today can impact what you actually keep in retirement, including:

- Building tax-efficient retirement income
- Understanding how different retirement accounts are taxed
- Using Roth strategies effectively
- Reducing your potential future tax burden
- Why where your retirement income comes from matters

Saving for retirement is only part of the equation. Having a strategy for how that money is taxed is just as important.

📅 September 15th
⏰ 7pm
💻 Live on Zoom

🔗 Register today: https://us02web.zoom.us/j/87372501771?pwd=Jci3iWBbYvihK8ckBtRS05CaOLkSbg.1

08/11/2026

Real estate professionals - Ask the accountants!

🚨 WE’RE LIVE TONIGHT AT 7 PM!Real estate professionals — tonight is your chance to Ask the Accountants.Join Kingdom Fina...
08/11/2026

🚨 WE’RE LIVE TONIGHT AT 7 PM!

Real estate professionals — tonight is your chance to Ask the Accountants.

Join Kingdom Financial Solutions LIVE for Tax Planning for Real Estate Professionals, where we’ll break down tax strategies, answer your questions, and discuss what you should be doing now to better prepare for your financial future.

📅 Tonight — August 11
⏰ 7:00 PM

Don’t wait until tax season to start thinking about taxes. Tax planning happens year-round.

🔴 Join us LIVE tonight at 7 PM! On this page!

08/10/2026

Want Your Tax Return Done Faster? Come Prepared.

One of the biggest reasons tax returns get delayed isn’t the IRS — it’s missing information.

For new clients especially, having your previous tax returns and accurate records can make a major difference.

We’ve recently worked with a client who had significant capital loss carryovers from prior years. Without reviewing the previous return, they could have missed nearly $5,000 in tax savings.

Other common things people overlook?

✔️ Accurate income and expense numbers
✔️ Prior-year tax information
✔️ Business mileage and vehicle records
✔️ Documentation for deductions and losses

Your previous returns tell a story — and missing one piece can mean delays or missed opportunities.

The takeaway: Don’t just bring your documents. Know your numbers and keep good records throughout the year.

Need help getting organized or planning ahead for your next return?

Call Kingdom Financial Solutions at 860-490-9741.

07/29/2026

Thank you to everyone who trusted Kingdom Financial Solutions this tax season. We’re grateful for the opportunity to help you navigate your taxes with confidence.

Now that filing season is over, the real opportunity begins.

Tax planning—not tax preparation—is where the biggest savings happen. The decisions you make throughout the year can have a major impact on what you owe next April.

Don’t wait until tax season to start saving.

📞 Call Kingdom Financial Solutions today at 860-490-9741 to schedule your tax planning consultation and start building a smarter strategy for the year ahead.

🚐 Can a motor home become a legitimate business tax deduction?When a motor home is used for qualified business travel, t...
07/03/2026

🚐 Can a motor home become a legitimate business tax deduction?

When a motor home is used for qualified business travel, transportation, or lodging, it may create significant tax-saving opportunities. However, the deduction must be properly structured and supported with detailed documentation.

To strengthen the deduction, business owners should:

✅ Maintain more than 50% qualified business use
✅ Track business mileage and overnight stays
✅ Document the business purpose of every trip
✅ Keep receipts and accurate usage records
✅ Work with a tax professional before claiming depreciation

For example, a $300,000 motor home used 80% for business could potentially generate up to $240,000 in deductions through bonus depreciation, Section 179, or other depreciation methods—depending on eligibility and current tax rules.

The opportunity can be substantial, but poor documentation could cause the deduction to be denied or recaptured.

Thinking about purchasing or using a motor home for your business? Schedule a consultation with Kingdom Financial Solutions to make sure your strategy is structured correctly.

Many people donate to charity because they want to make a difference.But here’s what many business owners don’t realize…...
06/30/2026

Many people donate to charity because they want to make a difference.

But here’s what many business owners don’t realize…

With today’s tax laws, personal charitable donations often provide little or no tax benefit because of the higher standard deduction.

There may be a smarter way.

If your business structures certain charitable payments with a legitimate business purpose, those payments may qualify as ordinary and necessary business expenses instead of personal charitable contributions.

That could mean:
✔️ A business tax deduction
✔️ Potential savings on income taxes
✔️ Possible reductions in self-employment or payroll taxes
✔️ Supporting causes that align with your brand

Examples include:
• Sponsoring local charity events
• Donating a percentage of sales to a nonprofit
• Supporting community organizations that promote your business
• Running charitable campaigns tied to customer promotions

💡 The key is that the contribution must have a real business purpose—such as advertising, marketing, or customer development—and it must be properly documented.

👉 The takeaway:
Giving back and growing your business don’t have to be separate goals. With the right strategy, you may be able to accomplish both.

📞 If your business supports charitable organizations or wants to start, let’s build a strategy that benefits your community and your business.

05/19/2026

What a way to close out tax season.

Huge thank you to everyone who came out to our Tax Season Ice Cream Social this past weekend! We truly appreciate the trust and support our clients and community continue to show Kingdom Financial Solutions year after year.

A special thank you to Ice Cream Emergency for helping us celebrate and making the event such a great experience for everyone involved.

Tax season may be over, but the relationships we build throughout it mean the most to us. We’re grateful for all of you! 🙏

Address

415 Killingworth Road, UNIT 4
Westbrook, CT
06441

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