Take control of your tax situation. We may be able to find a way to reduce your taxes.
Did You Know…
- There is more to tax planning than spending money!
- Never spend money just to save on income tax.
- When you do have to buy something or pay a bill, do it so you can save as much as possible on income tax.
Tax Planning
Tax Planning is both legal and ethical. It simply means taking control of your revenues and expenses. With proper planning, you can take advantage of every legitimate deduction, credit, and exemption, reducing your tax bill to an absolute minimum. At Stetzer Accounting Service, we encourage you to take a close look at your income tax situation before the end of the year. The earlier you start, the more you will benefit from tax planning.
Take These Steps
Proper tax planning includes the following steps:
- Estimate your revenues and expenses for the year. You may want to add up all of your revenues and expenses to date, and then project what they will be for the rest of the year.
- Using the data from step #1, estimate your tax liability.
- Estimate next year's profits. Will they be higher or lower?
- Between now and the end of the year, shift revenues and expenses to the year that benefits you most. Be careful to look at the whole tax picture for both years. If you defer too much income or accelerate too many deductions, you may pay too much tax next year.
Telephone Conferences
In some cases, tax planning can be handled with a telephone call.
- Schedule an appointment with the tax professionals at Stetzer Accounting Service for a telephone conference to discuss your tax situation.
- Send us a detailed estimate of your revenues and expenses. We will analyze the data and estimate your tax liability.
- Send copies of tax returns and a depreciation schedule from the previous year if you are a new client.
- Call us at the appointment time. During the conference, we'll discuss your situation and suggest ways to reduce your overall tax bill.
Call today for an appointment!
The tax professionals at Stetzer Accounting Service are ready and able to assist you with tax planning.
There is a fee for this service; however, the cost is minor compared to the potential savings. The fees are normally tax deductible.
We have developed some basic tax planning strategies for:
- Self-Employed Business Persons
- Self-Employed Farmers
- W-2 Wage Earners
- Investors
- Corporations
- Partnerships
- Limited Liability Companies
We start with basic tax planning strategies and tailor the plan to your specific situation and tax needs.