As we mentioned, planning for a lower tax liability starts well before tax season—ideally a year or more. In addition to time, you also need an experienced accountant on your side who can keep up on all of the most recent changes in tax law. That way, when the reform swings in your favor, you can maximize on the benefits. Or when it doesn’t, you can lower your exposure as much as possible. We can even help you find opportunities to lower taxes that you didn’t know existed!
With a solid, long-term plan in place, we can help you by:
- Taking advantage of all available tax deductions (both as a business and as an individual)
- Deferring eligible income, so it’s taxed at the lowest rate possible
- Choosing the best (and easiest) accounting practices to implement with your business
- Preparing your Income Tax Return in a timely and efficient manner
If we’ve done our jobs properly, your quarterly estimates and annual returns will show the effectiveness of the practice(s) we put in place. This cuts down on unexpected surprises at the end of the year and gives you a better idea of how much you’re actually making. With our data management on your side, you’ll better understand the profitability of your company even as you continue to grow at the pace you prefer.
When you need financial planning that goes above and beyond basic tax preparation, come get the direction you need from Lodestar Advisors. See how our accounting services can help you reach all of your business goals.