Proper tax planning requires knowledge of business transactions BEFORE they happen, not just at tax time next year. If you are not meeting with your advisor monthly, you are not getting premium tax planning advice. Do you have multiple LLC’s? Are you changing ownership structure, buying, or selling a company? These issues are the most complex tax circumstances and require impecable bookkeeping, documentation, and appropriate company policies to pass an IRS Audit while keeping all business partners happy. You should have “Basis Calculations” for every LLC and S-Corporation ready for audit at any time. Your financial statements should almost never match your tax returns and you need to understand why. You should use your books to manage your cash flow. If you are a startup or purchasing a business, we can setup your Quickbooks with efficient reporting and choose the right tax entity. If you would like a consultation, call us now.
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♦ Tax Preparation and Advisory Services
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