Business Tax Solutions
Our experience informs us that most business owners want and need the best tax planning possible. Even though most business owners know they need tax help, they generally spend very little time thinking about ways to reduce their tax burden. Most business owners assume that their tax advisor or CPA is on the lookout for ways to reduce taxes. They’re too busy to question whether their advisors are doing enough.
It may come as no surprise that many times as taxes are getting ready to be filed, their CPA or tax professional might call them with the bad news about how much they owe in income taxes and advise them to purchase equipment they might not need, put more money in a tax deferred retirement plan or simply plan to make that payment. Here’s the one thing most of these tax advisors have in common. They are looking backward at the tax year just passed.
We believe that most CPAs do a great job of looking backward to find the most deductions, but many are so busy they have little or no time to help business owners plan to reduce taxes in the coming years.
Many businesses have the added burden of trying to attract and retain top talent to help their business grow and prosper. Add to this the complexities of running a business, staying compliant with rules and regulations, and just keeping abreast of important changes in their industry and it’s no wonder that tax planning just never captures their attention.
While we don’t give tax advice, and we don’t prepare taxes, we do raise awareness about income tax strategies that your tax advisor probably never brought to your attention. Then, once you want to know more about a particular tax strategy, we bring in top tax advisors with whom we have relationships from all over the country to work on your unique tax saving strategies. We don’t look to replace your CPA either. Our goal is to work with your CPA and have them help you evaluate strategies they may not have shown you but can help you to implement. Our experience is that once these tax advisors become aware of some of the strategies we bring to the table, they often introduce us to other business clients who could benefit from working with us! Click here to learn more about some of our tax planning partners.
There are many tax planning opportunities for business owners that they are just not aware of.
Did you know that you can use the tax code to get Uncle Sam out of your retirement? And we’re not just talking about increasing your contributions to your 401(k). There are also tax advantaged strategies that help business owners to attract and retain top talent. There may be ways to restructure how you account for business assets to maximize deductions moving forward. A good tax advisory team can help you uncover forward-looking strategies as well as look at ways to reduce your current income tax liability. Don’t wait another day to find out if you’re overpaying the government.
Tax or Legal Advice
Vital Tax Solutions, Inc., does not offer tax planning or legal services, but may provide references to accounting, tax services, or legal providers. They may also work with your attorney or independent tax or legal advisor.
All written content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Please consult a qualified professional for assistance with any tax or legal issue to review the implications.