Tax Planning

Tax Planning for Small Business Owners

Tax planning is essential for a variety of reasons. It’s not only a powerful tool to save money on taxes, which should be more than enough to get anybody’s attention. It can also help you protect your business from bankruptcy; improve the return on your investments and increase your chances of enjoying a comfortable retirement.

Standard tax advising focuses on the past, reporting expenditures of the previous year. Good tax planning looks ahead and takes action in order to take advantage of the many legal credits, and deductions available.

Countless tax planning strategies are available to small business owners. Some are aimed at the owner’s individual tax situation and some at the business itself, but regardless of how simple or how complex a tax strategy is, it will be based on structuring the strategy to accomplish one or more of these often overlapping goals:

Calculator IconReducing the amount of taxable income

Lowering Rate Icon Lowering your tax rate

Sand Timer Icon Controlling the time when the tax must be paid

Money Gear Icon Claiming any available tax credits

Lowering Tax Icon Controlling the effects of the Alternative Minimum Tax

Money Shield Icon Avoiding the most common tax planning mistakes

We specialize in middle market companies and large, family-run businesses for whom financial fluctuations have a tangible impact on personal taxes and estate planning. When your organization’s growth and survival are at stake, you need a trustworthy partner who listens to your objectives. The experienced accounting teams at John Oh CPA Professional Corp and reliable tax solutions to help you confidently meet the future.