It’s that time of year again… tax time.

As a CEO, company president or business owner, you always want to make sure that when you file your taxes you’re doing everything within the local, state and federal tax laws.

But that doesn’t mean you don’t use the tax law to your business advantage.

You should be taking advantage of every single tax deduction that the law allows. 

There is a lot of talk in the country about whether the new administration will raise taxes – and if they do, when will the government raise taxes.  If and when that happens, we will deal with it.  But for now, we are coming to the end of the year and many business people make the mistake of starting to deal with their taxes after the year is over. 

As far as taxes go this is the most important time of the year.  This is the time, to set up an appointment with your accountant or CPA and review your tax liability for the current year so they can advise you on how best to minimize your income taxes.  After December 31^st, it’s too late to plan your tax strategy. 

So get on the phone, call your accountant or CPA who handles your taxes, make an appointment as soon as possible before the end of the year and do everything you can to legally and ethically reduce your tax liability.  Even if this has not been a great year for your business, it is still important to sit down and talk with your accountant about the current tax year and how it affects your tax liability.  While you’re discussing taxes and financial matters with your accountant or CPA, also strategize about the coming year in order to know what you might expect when it comes to taxes and your business.