Formal Tax Planning Services in Las Vegas, NV
Two basic rules apply to tax planning. First, a small business should never incur additional expenses only to gain a tax deduction. While purchasing necessary equipment prior to the end of the tax year can be a valuable tax planning strategy, making unnecessary purchases is not recommended. Second, a small business should always attempt to defer taxes when possible. Deferring taxes enables the business to use that money interest-free, and sometimes even earn interest on it, until the next time taxes are due.
C.A.C Financial Services encourages entrepreneurs and small business owners to conduct formal tax planning sessions in the middle of each tax year. This approach allows clients time to apply their strategies to the current year as well as allow them to get a jump on the following year. Additionally, we help small business owners maintain a personal awareness of tax planning issues in order to save money. Even if they employ a professional bookkeeper or accountant with an outside firm, our small business clients understand how to keep careful tabs on their own tax preparation in order to take advantage of all possible opportunities for deductions and tax savings.