Maximize the tax advantages of owning a business
The 2018 changes to the federal tax code could mean a significant reduction in the taxes you pay as a business owner. But if you’re preparing your personal tax return on your own, you might end up paying more than you should.
That’s why it’s more important than ever to have your business accountant—the one who prepares your company’s tax return—handle your personal taxes as well.
The total tax picture
Your individual tax return is intertwined with your company’s revenue and profit, but minimizing your tax liability goes beyond simply knowing the numbers on both sides: It requires knowing how everything should work together. With the proper perspective, your accountant can help you answer the following questions:
- How much salary should you be paying yourself, versus distributions from company profits?
- Are you taking advantage of the opportunities for retirement savings available to business owners? (Those can lead to tax savings, too.)
- Are you optimizing your health insurance and life insurance?
- Where can you realize additional savings?
The best part? You won’t have to deal with IRS forms any more, and you won’t be left wondering: “Did I do my taxes correctly? Where’s my refund?”
Proactive planning and protection
At Akopyan & Co., we take a proactive, “no surprises” approach that will help you fully capitalize on the tax benefits of owning a business. We’ll assist with planning and forecasting, so we can anticipate changes and take the appropriate measures to protect and enhance your financial situation. And we’ll stay in touch on a consistent basis, because we want to help both you and your company succeed.
If you’re ready to work with a professional who can help you put all the pieces together, contact us today at firstname.lastname@example.org or 206-838-3800.
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