Businesses can expect to pay over 50% in their earnings in taxes. We strive in finding tax strategies for you that will minimize your taxes and defer them in such a way that you are in control of how much tax you want to pay. We advise businesses in a variety of ways and find opportunities to accelerate deductions and defer income.
- Prepayment of liabilities (rent, insurance, state taxes, etc.)
- Bonus accruals
- Maximizing tax depreciation
- Accruals of expenses, taxes, wages, etc.
- Deferring Revenue
- Uncollectable Income
Qualified Business Income Deduction (Sec. 199A)
- The Tax Cuts & Jobs Act enacted a new 20% deduction for income from partnerships, s-corporations, self-employed individuals, and others.
- This deduction is a new tax break for individuals filing their 2018 taxes. Most individuals will not be eligible for the deduction due to careless tax planning. There are very strict limitations based on wages, income, and assets that you must carefully adhere to.
Research and Development Credit
- Dollar for dollar reduction of tax liability measured by comparing the current year research expenditures to a historical base amount.
State and Local Tax
State and local taxing authorities are changing tax regulations EVERY DAY. There are many ways to decrease your state tax. We will determine the least amount of income you must report to each state and local taxing authority. Additionally, any state taxes you pay to other states will likely offset your principal state of residence which can be an area of huge tax savings.
- Nexus studies
- Apportionment analysis
Sales & Use Tax
Doing business in a state requires licenses, permits, and tax compliance among other things. We will make sure all of your tax needs are handled. We provide:
- Property Tax Services
- Sales & Use Tax
- Personal Property Tax Fixed Asset Reviews