Tax Planning Services
Tax Planning Services
Booxmax works closely with its affiliates to offer valuable tax planning services to its clients. Due to increased regulatory oversight, constantly evolving regulatory changes, and economic uncertainty, tax planning has become necessary to most businesses. If your business has faced a large unexpected tax bill, you understand that tax planning is an essential business need. We have a full arsenal of tax minimization and management strategies that help you stay current on tax obligations and protect your income. Let us share our tax saving strategies with your business.
We Understand the Language of the IRS
We employ smart and legally sound ways to maximize your tax savings. If you have been overpaying taxes, we identify missed tax deductions and make the most of allowable deductions. Have you been claiming too many expenses? There are limits on how much you can claim for entertainment, meal and travel expenses. Our knowledge of current tax codes and accounting/bookkeeping requirements can prevent red flags with the IRS and substantiate your claims with proper documentation.
Navigating local and state taxes is arduous given the fast pace of regulatory changes that affect compliance requirements across jurisdictions. With us guiding you, you will survive every tax season, and make effective and proactive financial decisions.
Comprehensive Tax Planning
Whether you are a beginning or an established business, you will find our bookkeeping and tax planning services invaluable. For example, if you’re a small business, we can perform front-end tax planning for the business partners, structure related party transactions to minimize FICA and self-employment taxes, and propose cost-allocation recommendations that impact tax liabilities substantially.
Our team is well-versed in a variety of tax-related matters, including sales tax; estate, gift and trust; business acquisition and sale; and R&D credits. Some of the tax saving breaks and strategies we leverage include:
- Review of business structure
- Shifting income or expenses from one year to another with a lower tax rate
- Capital depreciation
- Use worn-out inventory write-offs
- Identify investments that produce tax exempt income
- Business-related education deductions
- Tax credit identification (ex: alternative energy)
- Bad debt deduction
- Reasonable business entertainment and travel expenses
- Analyze or review assets and projected earnings to adjust the tax plan
If you seek to make tax planning a year-round rather than a year-end activity, we can help you. Many of our clients hire us for long-term tax planning to realize the cost saving benefits in the long run. Our comprehensive tax services meet the needs of all businesses: talk to us today to understand how we can assist you.