Los Angeles, CA, 24 Sep 2021, ZEXPRWIRE, Do you know that you are paying (with the help of your CPA) on average over 25% to the federal government, the IRS, and around 10% to the state, the FTB? Would 35% or more (some pay 55%) of your hard earned income is enough for you to stop what you are doing and sit down and think about how many thousands of dollars you could have legally saved and paid yourself with.
With proper tax planning you will always pay what you are legally required to pay, no more and no less either. However, you should know that you could be paying more to yourself (keep more of what you make) and paying less in taxes by utilizing a professional tax planning service. If you could save 35-55% or portion thereof, then that is a great investment, what investment would pay you 35-55% instantly every year?
So What is Tax Planning Then?
Tax planning is the most unutilized tool in most tax firms around the nation! Tax planning is simply a proactive tool to beat the IRS legally; you must utilize it throughout the year, not by April 15th for individuals or March 15th for the corporations as it will be too late then.
Do not wait for another April 15 to approach you by surprise; you know you can count on your CPA or EA for a timely, accurate tax return. But many times, just filing your return isn’t good enough, and actually could cost you dearly. We want to emphasize that you need a “tax plan” to pay the least you legally can. And that can only be accomplished if you conduct tax panning prior to year end and before April 15th of the following year.
And yes, everything is court-tested and IRS approved and per the IRM – internal revenue manual. If you want to succeed personally, in business and investing, you need the best information. Best information on prospect buyers, best information on sellers, best information to make money, and best information to keep more of your hard-earned money.
You rely on your CPA or EA for some of your most important information. But what does your CPA or EA actually do with that information to help you?
At tax time, your books (or worse your shoe box that is full of receipts), tell your CPA or EA how much tax you owe. You scramble for more deductions, backup, receipts, adjustments, etc. But by tax time, it’s usually too late to do anything more meaningful to keep more of what you’ve earned.
Is that all you really want? Pay without planning or knowing your options?
Here’s How to Beat the IRS. Legally!
To legally minimize your taxes, you need a tax plan. You need concepts; you need strategies that leave more on your bottom line, without raising “red flags” or getting into so called “grey areas.”
It doesn’t matter how good your current CPA or EA is with your stack of receipts on April 15. If you haven’t planned right as shown above, April 15th is just too late, again.
Let me ask you, have you organized your business entity right? Do you have the right benefit plans for yourself and your employees? Do you have the right retirement plans to prepare for a “less taxing” future? Are you taking advantage of all the legitimate deductions, tax credits for your industry, loopholes, concepts and strategies the current IRS tax code offers you?
Our tax firm is headed by Mike Habib, he is an IRS licensed Enrolled Agent and represents clients in all 50 states. Our Whittier, Los Angeles, CA tax firm is an accredited A+ rated company by the Better Business Bureau.
Name: Mike Habib
Email: [email protected]
Company: Mike Habib, EA
City: Los Angeles, CA