By John Pollock
For business owners, lower taxes are likely a gift that you’d like to see under the tree. Thankfully, it’s not too late to add it to your holiday wish list. It even has a name, strategic tax planning. Strategic tax planning is a gift that won’t fade once the newness wears off, and it’s one that continues to give to your business year after year. Strategic tax planning could save your business $20,000, $50,000, even $100,000 in taxes every year. This year stop wasting money on taxes you don’t owe. Instead, give yourself the gift of strategic tax planning, and get rewarded year after year with lower taxes.
HOW DOES STRATEGIC TAX PLANNING WORK
Make your list and check it twice, don’t forget to put strategic tax planning on your holiday list. Lower taxes don’t have to be merely a wish, with help from Financial Gravity. Strategic tax planning guarantees results. In fact, your strategic tax plan, your Tax Management Blueprint, is backed up by our 2X savings guarantee. That means you’ll never pay more than half of what we save you in tax savings.
The biggest mistake most business owners make is failing to plan. Tax savings stem from tax planning. To leverage all the benefits the tax code has to offer, you must be proactive. If you want to save money on your taxes, you must have a plan. Specifically, you need a Tax Management Blueprint.
At Quartermaster Tax Management we know how to use the tax code to help you pay less tax. We use the IRS Tax Code comprehensively, and every strategy is legal, ethical, and moral. Sources of tax savings directly from the IRS Code, along with implementation plans, are highlighted and summarized so you can be confident that the savings are real.
NOT ALL ACCOUNTANTS ARE TAX PLANNERS
Your accountant is primarily a historian. They record what you have done during the previous year. The simple act of recording historical data and then transferring that data to a tax return does not constitute tax planning. While tax preparation, tax filing, and accounting are all important, they do not replace proactive tax planning.
If your tax preparer has not given you at least one idea that saves you at least $1,000 in taxes every year, then you may have outgrown your tax preparer. The great majority of CPAs are not trained to do this level of tax planning. A strategic tax plan should be a business fundamental, and odds are that you don’t have one.
The Tax Management Blueprint, your strategic tax reduction plan from Financial Gravity, provides a clear, proactive tax strategy that is customized specifically for you and your business. If you want to leverage the benefits of the tax code you need a tax professional who is proactive and forward thinking.
SAVE MONEY ON YOUR TAXES EVERY YEAR
Strategic tax planning isn’t a one time experience. Strategic tax planning means keeping more of your money, $20,000, $50,000, even $100,000 in taxes every year. The tax code is thousands of pages long with countless strategies that small business owners can be using to save money on taxes year after year.
The New Tax Cuts and Jobs Act of 2017 offers many new possibilities for strategic tax planning for business owners. Creating W2 income, segregating real estate, and segregating your side income are just the tip of the iceberg for strategies. It’s also important to make sure you aren’t making any major mistakes that could be costing you money. Are you paying too much self-employment tax? Do you have missing medical expenses?
There are plenty of lesser-known rules within the tax code that your tax professional probably never told you about. Under the “August Rule” you can rent your house to yourself and create tax-free income. We know these tried-and-true strategies along with many more.
WRAP UP YOUR TAX SAVINGS NOW
Don’t wait. Every minute is more of your hard-earned money that you will never see, overpaid in taxes you don’t legally, ethically, or morally owe, all because you don’t have a strategic tax reduction plan. A strategic tax plan is a business fundamental, and odds are that you don’t have one.
Once you have your Tax Management Blueprint in hand, we can help you implement and maintain your tax savings with our Tax Operating System®. Designed to fit any budget and circumstance, you can choose the level that works best for you. No matter which level you choose you can count on our advisors, annual tax planning assistance, ongoing newsletter, and educational materials.
If saving tens-to-hundreds of thousands in taxes every year is your holiday wish, don’t write a letter to Santa. A quick free assessment with Quartermaster Tax Management is all it takes to start your Tax Management Blueprint process. Contact us today by calling 704-491-4111 or click here to schedule a meeting, to start your strategic tax reduction plan.