How Does Tax Planning Help Your Business?

Tax Planners focus on helping you pay less in taxes. I know. The concept of paying less in taxes seems like fiction, but it’s not. We’ve all heard about companies that pay little to nothing in taxes. Maybe yours can become one of those!

Tax Planners create a forward-looking plan for their clients that uses strategies to minimize taxes owed while staying within the scope of the law and regulation. We have additional training most tax accountants do not have, so we see your financials through a slightly different lens. We are never surprised at the number of overlooked deductions we find in a new client’s previous tax filings.

The IRS is not your friend. It’s their job to collect the proper amount in tax, but they have no ability, reason, or obligation to ensure you didn’t overpay. That’s why we like to look at prior year tax returns when we start working with new clients. We ensure they did not unknowingly do that, and we’re typically only surprised when we don’t find overpayments.

Tax planning helps you maximize your business growth by ensuring you don’t overpay and have to wait for a refund. Refunds reduce the revenue available to you throughout the year to make capital investments in your business, pay down debt, or hire more or better qualified people. All of these actions can help boost your profitability. Of course, there are lots of other things you can do with the extra money as well, like take a much-needed vacation.

But how does tax planning work? Tax Planners start with a comprehensive analysis of your company’s financial position, and your goals. Then we create strategies for achieving your goals while minimizing your tax liability. Our goal is to maximize your after-tax income and profitability.

We have an in-depth understanding of the tax implications of various business investments and investment strategies. Throughout the year, we meet with our clients on a regular basis to ensure things have not changed, and guide them in their financial decisions. Our focus is always on ensuring the business grows optimally, which is typically faster than most companies grow without our advice.

We also have expertise in assisting business leaders with other things that impact their livelihoods and lives. Topics such as estate planning. exit strategy, and retirement goals need to be discussed so that we can truly optimize the plan for your company’s growth, and maximize the value of your business. We can also help with plans to transfer ownership of a closely held, family business – which can be a tricky path to navigate. And all of these things are taken into account as we create the plans for your business growth and tax liability.

Still not certain how we can help you? Call me for a complimentary conversation? You can schedule that here.