Business taxes are responsible for taking a large portion of your business profits, reducing cash flow to the small business and its owners. Our firm's model is focused to implement strategies that minimize that tax bill. We utilize a three-step approach to achieve optimal tax planning outcomes for our small business clients:
In this initial phase, we meet with you to understand your business model, cash flow drivers, and long-term growth objectives. Today’s evolving tax landscape offers a wide range of opportunities for small businesses to reduce their tax burden. Our experienced team brings deep expertise in both the underlying principles and the practical application of current tax laws, ensuring you benefit from every available advantage.
We evaluate our findings from step one to form tax recommendations based on your business specifics. We also make tax planning recommendations every year, as your situation and the tax laws inevitably evolve.
Our recommendations include:
Entity selection most appropriate for your business
New tax laws
Impact of Tax Cuts and Jobs Act (TCJA)
Tax efficient retirement plans
International business tax issues
Global employee mobility planning
Transfer pricing structures
Family business planning
Effectively use of employer benefit
Real estate tax planning, including passive loss strategies
Business succession and exit strategies
Bonus depreciation and Section 179 depreciation
Tax reform readiness
Family and multi-generational tax planning
Tax efficient investment strategies
Charitable giving such as charitable lead trusts and charitable remainder trusts
Trust and estate planning, including trustee and fiduciary guidance
Lastly, we implement your customized tax planning strategy and complete your tax returns. Our team adjusts implementation over the course of our client relationship as your business needs and targets invariably adjust over time. We also make sure that compliance issues are reflected on your tax return with the proper forms and schedules. Additionally, we apprise you of changes to tax rules and how to take advantage of them for your specific needs.
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Tax planning is the process of methodically and consistently taking advantage of tax rules based on your specific situation. A customized taxpayer-specific tax plan approach reduces your tax liability year-after-year, contributing to an accelerated net worth growth.
Your responsibility is to take tax planning seriously and execute on them consistently every year. Taxes are your largest recurring annual expense and deserves and strategizing to minimize it will save significant amounts over your life time.
Tax planning for executives involves strategic decision-making to minimize personal and corporate tax liabilities. CPAs assist executives in navigating complex tax laws, optimizing compensation structures, and implementing tax-efficient investment strategies. They also help them with multi-generational taxes and estate and inheritance taxes minimization.
Methodic and consistent tax planning for contractors redirects money from paying taxes to increasing your wealth. It involves strategizing to minimize tax liabilities, maximize deductions, and ensure compliance with tax regulations. By proactively managing your taxes, you can enhance profitability, and financial stability for your contracting business.
Contractors often face unique challenges, such as fluctuating income, project-based revenue, specific industry regulations. Our tax planning services are tailored to address these specific challenges, ensuring that your business takes advantage of available opportunities, including tax credits specifically for contractors, and remains compliant with industry-specific tax laws.
Our small business package to contractors provides multiple benefits. The bundled services takes care of all of your tax planning and compliance needs including tax planning and preparation, monthly accounting, payroll advice, sales property taxes, business property taxes, and any questions that you may have during the year. Our services are designed to cater specifically to the needs of contracting small businesses. We provide guidance on selecting the right business structure, offer meticulous bookkeeping solutions, and develop strategic tax plans to optimize financial outcomes. Our goal is to empower small businesses in the contracting industry to thrive financially.
Tax planning should be done throughout the year as transactions occur. At Capital Tax we do not charge any additional fees for any plans throughout the year. Our experts are ready to assist you throughout the year to optimize your tax strategy and review your financial data to increase your revenue and profitability.
Our accountants are not only focused on compliance to make sure your taxes are filed accurately but are also trained and experienced on guiding you to maximize your revenue and net income. Our services are distinguished by industry expertise, personalized approaches, and a commitment to proactive financial management. We understand the unique challenges of the contracting industry and tailor our services to meet the specific needs and goals of each client. Partner with us to build a stronger contracting company.
We have been delivering services to our clients for two decades, since 2002. Our approach to tax services is that compliance is very important. Equally important though is planning. Planning minimizes your tax liability year after year, diverting the savings to increase your net worth.
