It’s that time of year again… tax time. That’s why you need to be tax smart with your business taxes throughout the year.
As a CEO, 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 Washington D.C. will raise taxes. If and when that happens, you will deal with it. But for now, you are approaching the end of the year. Many CEOs, presidents and business owners make the mistake of starting to focus on business 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. Review your tax liability for the current year so you can be advised on how best to minimize your income taxes. After December 31st, it’s too late to plan your business tax strategy.
So get on the phone, call your accountant or CPA. If you have one, then get one TODAY! Make an appointment as soon as possible before the end of the year. 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 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.
To your success!
Ready to improve and grow your business? Talk with Howard! Howard Lewinter guides – focuses – advises CEOs, presidents and business owners to MORE success – MORE profit – less stress.