Tax Planning

Tax preparation services are important for reporting last year's activity, but after the tax year ends, its usually too late to do anything that could reduce you tax liability. We go beyond basic tax preparation services proactively monitor our clients throughout the year in order to identify opportunities to maximize your after-tax income. Whether it be a new tax law, techniques to defer income and accelerate expenses, choosing between  accrual and cash basis, or deciding whether to make an S-corp election, we will be able to identify the tax impact on your business in order to reduce your future tax liability.  Here are just a few of our tax saving strategies:

• Proactively identify opportunities to defer income and accelerate expenses in order to increase your after tax income
• Help you determine when your business should make an S-corp election, allowing you to be on your company's payroll and receive distributions from your company, which can impact your effective tax rate
• Develop a long-term strategy on asset purchases to maximize your Section 179 deduction, which can trigger quicker write-offs and lead to a lower a tax liability
• Plan your business' use of carryovers that can significantly impact your tax liability, such as net operating losses, capital losses, passive income losses, investment interest, and charitable contributions