Tax Strategies for Business Owners

Making the Complex Simple…4

Business owners face an endless array of legal, tax and compliance challenges. We understand what you are going through and we can work with you at every step, in every facet of the process.  We help you lower your tax bill and keep more of that hard earned money.

When it comes to business tax issues, we offer industry expertise and specialized knowledge.  All business owners want to save money on taxes, but proper tax planning can be complex.  When you are starting your business you have some basic questions:

  • What type of business structure do I need?
  • What is the difference between a sole proprietorship, LLC, S-Corporation or C-Corporation?
  • Do I need any special licenses or permits?
  • What are my quarterly or annual tax filing requirements?
  • What accounting software should I use and how do I set it up?
  • Is it best for me to have employees or independent contractors?

The above questions are very important.  But one question I get asked all the time by business owners is – how do I lower my tax bill by taking every legal tax deduction possible?

We help our business owners by providing tax tips and strategies like the following:

  • How setting up an S-Corporation can drastically lower your employment taxes.
  • Tips and tricks to writing off your vehicle and/or auto mileage.
  • How to have your business legally deduct your medical expenses.
  • Reduce the chance of an IRS audit and eliminate any “red flags”;
  • Determining when a C Corporation entity would be favorable and pointing out pitfalls;
  • Take a deduction for hiring your children (and when it makes sense to hire your spouse).
  • How your business can pay your child’s tuition expenses.
  • The tip that allows your business to deduct home office expenses
  • Locate hidden tax deductions that you never considered.
  • How you can take advantage of business travel.

Tax planning for business owners has never been so important.  Chances are you are paying too much in tax already.  You owe it to yourself to get educated and start saving. Just missing out on one overlooked strategy can cost you thousands of dollars.

Contact us today at 480-361-9400 to get started

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