Business Tax Planning
Tax planning plays a major role in personal wealth management — but it may be even more critical for businesses, where gross incomes are larger and costly mistakes can affect the bottom line. Business owners often seek professional guidance to help reduce their tax bill and avoid expensive filing errors.
A business tax professional can help you
- Make sure you're taking full advantage of all deductions available to you, including automobile deductions, home office deductions, travel and entertainment deductions, and other deductions you may not even realize exist.
- Classify your business in a way that makes the most tax sense. Different classifications face unique tax liabilities and rates, so choosing the right one may save you money. Also, it's important to review your business classification as your company grows.
- Identify ways to compensate employees (including yourself) or improve benefits in a tax-efficient manner.
- Estimate your tax bill based on projected revenue to plan for the future and avoid costly surprises.
Just as you're an expert in your field, Schoen Financial Advisors offers CPAs and tax planners who know the tax code and stay abreast of ever-changing policies that might affect your business. If you'd like to learn more about our business tax planning services, please give us a call. We are happy to help.