Seven Reasons Why Business Owners Should Engage In Tax Planning!

  • Your business may not be currently structured properly to take advantage of certain legal loopholes in the Internal Revenue Code.

 

  • There are certain concepts you may not be taking advantage of such as hiring a relative (income shifting) to preserve your family wealth and may be giving it away to Uncle Sam.

 

  • Your current tax professional has no incentive to share the hidden opportunities in the tax code, he/she may not be trained in strategic tax planning nor think about or engage in strategic tax planning on a regular basis.

 

  • You may be able to take tax-free checks from your business while your business gets a deduction for them and it’s legal.

 

  • You may be paying out-of-pocket, unreimbursed medical expenses that aren’t tax-deductible that could be with proper planning.

 

  • You may be paying excessive self-employment taxes needlessly when you legally don’t have to.

 

  • By not having a Strategic Tax Plan in place that utilizes four or five tax saving concepts simultaneously and having it reviewed quarterly and annually, you may be leaving thousands of $$$ on the table.