Tax planning is crucial for the financial success of all types of business entities. Planning involves implementing various tax strategies to minimize taxes within the framework of the tax code.
Our team of professionals work with individual clients to understand each client’s unique financial situation and provide sound tax planning strategies. Tax planning is a continuous year-round effort.
We devise our client’s tax strategies through a combination of initial planning when the business starts to operate, a commitment to keep track of the business income and deductions, follow through on tax compliance requirements and planning well in advance before filing the business income tax returns.
Our advice for general tax planning for all businesses include evaluation of the entity structure, timing of income and deductions, timing of equipment purchases, selection of tax favored benefits and investment plans, tax free exchanges and inventory valuation methods. At year-end we work one on one with our small business clients to evaluate and analyze the different tax strategies that best suit the ongoing individual business needs of each of our clients.
We prepare and file tax returns for all business entity types such as - C Corporations (Form 1120), S corporations (Form 1120S), Partnerships (Form 1065), LLCs (Forms Schedule C, 1065, 1120S or 1120 for LLCs) and exempt (Not for profit entities )(Form 990) entity tax returns.
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