Where do You Get Your Small Business Tax Advice?

Small business tax advice seems to be available just about everywhere. You can get it online and in strip centers from chain tax preparation companies. That is not to say that there is not good advice available from those sources, but there is much more involved in legal minimization of taxes for small business.

Small business tax advice related to asset protection – protecting your assets, both business and personal, grows in importance as your assets grow. Some of the strategies used in asset protection also can impact your small business tax liability. Getting your advice from a full service CPA, Certified Public Accountant, firm provides other advice related to asset protection to integrate it into a complete tax plan.

Small business tax advice related to estate planning – much the same as in asset protection, there are strategies for estate planning that can also mitigate income tax liability. By working with a full service CPA firm, your estate planning is integrated into a complete tax plan. Estate planning not only involves passing your assets to heirs with minimal taxation, but also managing your estate if you are incapacitated and unable to do so.

Small business tax advice for audit protection and representation – while you can get a lot of tax advice and tax preparation services, how many of those sources are authorized by the IRS to practice on your behalf? Besides advising you for audit protection, a full service CPA firm will be ready to represent you when the IRS has questions or worse, if there is an audit.

Small business tax advice about entity formation – your business tax entity structure can be crucial as related to current and future taxation. Advice as related to structures such as corporate, Limited Liability Company, Partnership, or S-Corporation is critical to your business and personal taxation future.

Small business tax advice related to tax planning – tax advice is fine, but often it is too late for effective action to reduce taxes. Tax planning is perhaps the most valuable service a firm can offer, and it is not just a new business activity. Planning is an ongoing activity. Tax laws change, and personal and business financial situations change. Planning anticipates change, but also adapts to change for future tax advantages.

Small business tax advice should be more than just advice – a full service Certified Public Accountant firm can become a sort of partner in your business success. Your interests are aligned. Think of the CPA firm as a department in your organization that is constantly watching your financial activities and federal and state tax laws to help you in maximizing business and personal income while minimizing business and personal taxes.

Consider a time when your business is thriving, and you want to increase revenues and plan for retirement through investing. Those investments can involve anything from stocks and bonds to real estate or precious metals. Whether through the business, personal investing, or both, small business tax advice through a full service firm will provide the help you need.

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