Small Business Owners - Think You're Leaving Money On The Table?

If you have a small business and you're tax bill appears to be higher than normal and you have concerns as to whether or not it is correct or that your tax preparer didn't advise you on tax savings strategies, give me a call. There are several tax deductions that a savvy tax professional can help you discover that you may not have considered and your tax preparer may have simply entered what you gave them. A tax strategy and planning focused CPA can consult with you to determine if you are missing items that could save you hundreds if not thousands of dollars in taxes. These are things like the following:

- S-Corp analysis (should you be an S-Corp?)

- Writing off a recently purchased vehicle vs. taking the mileage deduction

- exceptions to early retirement withdrawal penalties

- earned income credit tax strategy considerations for the self employed

- married filing joint vs. separate analysis

- IRA contributions that can count for 2022

- child tax credit and dependent care credit analysis