It’s the month of November and nearing the end of the calendar year. It’s time to review your company’s year end tax strategy and to plan for the future success of your business.
All businesses that pay taxes on a calendar year will want to be in contact with the company accountant. It’s the time of year, as a CEO, president or business owner, to sit down with your accountant, review the business year and plan your tax strategy to maximize your business profits.
Many businesses make the mistake of waiting till the very end of the year or beginning of the new year to plan their tax strategy. Then it is too late and businesses end up paying more taxes than may be necessary.
Your accountant is a valuable advisor to the business throughout the year. A CPA (certified public accountant) should be able to advise you how best to file your taxes in order to pay the least possible amount the tax law permits.
There continues to be a great deal of talk these days about raising taxes on local and national levels. We all know exactly where the tax burden is going to fall – on the business community. As a CEO, president or business owner, you want to ask your accountant to keep an eye on any legislative changes that may affect your business and have a direct impact on company profits. In addition to federal tax obligations and regulations, stay up-to-date with state and local taxes as they continually change – especially with many state and local governments looking for ways to fund projects in this ever changing economy.
You certainly want to make sure that everything you are doing is in complete compliance with the law. But certainly you want your accountant or CPA to take advantage of every legal deduction available.
Remember: It’s not how much money you make. It’s how much money you keep.
To your success!
Want to grow your company and maximize your business profits? Talk with Howard! – 888-738-1855 – Howard Lewinter guides – focuses – advises CEOs, presidents and business owners to MORE success – MORE profits – less stress.