Every year do you spend the first part of April looking for deductions and savings your business can claim on its taxes? Does your idea of doing this proactively mean that you start that process in March?
You may see some small wins in this strategy but the most successful businesses know that the biggest tax benefits can be found by being far more proactively focused.
But when should that start?
Our eBook, Proactive Business Tax Planning for Growth-Oriented Owners, can help to answer that question, and much more.
Want a preview of what you’ll find inside the eBook? Read on! 👀
Discover Your Nine Core Tax Planning Levers
Did you know that when you recognize income can have an impact on your tax liability? The difference between a Q1 and Q4 declaration can prevent severe bracket creep.
In Proactive Business Tax Planning for Growth-Oriented Owners you’ll learn more about how the taxes your business pays are shaped by the way that profit flows through the business.
Consider the Tax Categories Where Business Owners Often Overpay
Business owners who treat tax payments as a checkbox can often end up overpaying their taxes. Taking the time to consider payments as a strategic opportunity can make a big difference to your bottom line.
For example, when the third and fourth quarters finish strong, many business owners will make tax payments in quarters one and two based on the way the year finished. A more strategic approach is to consider those payments based solely on the performance of the business in Q1 and Q2.
See the Solution to S Corp Success
Setting up a business as an S Corp is a popular choice for many business owners because of the tax advantages it provides. But when they are not set up correctly, an S Corp can create unintended, and expensive, tax liabilities.
Some areas where an S Corp can fall down include salary distribution, payroll reporting, and distribution schedules.
Learn How Tax Strategies Can Affect Retirement Planning
Building a dream retirement plan isn’t just about savings. It also involves the careful understanding of current, and future, tax liability. That means taking into account key parts of your business structure such as whether you have employees, if you have a high-profit, or if your business is owner-only.
It’s All About the Difference Between Filing and Planning
Early planning and strategic thinking can help business owners facilitate a tax plan that meets their obligations while positioning their company for strategic growth. But the complexity of tax laws can make productive tax planning complicated.
This guide can help you untangle some of those complexities, but the best plan of action can involve partnering with an experienced CPA.
Download your free copy of the ebook, Proactive Business Tax Planning for Growth-Oriented Owners, today.
We have helped the owners of businesses of all sizes and across industries develop forward-thinking tax plans that can deliver optimal results to power long-term growth.
To learn how we can apply these strategies directly to your business, you can schedule a free consultation.