Tax planning is a system that is a structured by a proven process to assess your company and the tax code to pay the least amount of taxes as legally possible.
This is a separate process from tax preparation which is just focused on accurately and timely filing your taxes.
When I work with clients to create and implement a tax strategy, the result is legally reducing their taxes.
But this process includes several steps that actually help to reduce audit risk at the same time in order to protect your bottom-line.
Recently, working with an eCommerce business we were able to identify and capture over $15,000 of tax credits related to the Cares Act.
With just one strategy.
The $15,000 in tax savings doesn’t even include the rest of the tax planning opportunities available to the business as part of our tax planning process.
Many business owners realized that capturing these tax opportunities can make the difference in their business’s survival and cash flow.
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There is a HUGE difference between tax preparation AND tax planning.
If you have not taken the time to work with you CPA on a comprehensive tax plan you are leaving thousands on the table.
EVERY YEAR.
Do not wait until tax season just to get a bill from your CPA or tax preparer.
When I work with clients to create and implement a tax strategy, the result is legally reducing their taxes, but the process includes several steps that actually help them reduce their audit risk at the same time to protect their bottom-line.
The general public believes that when they go get their taxes completed, their preparer has helped them organize their life to pay as little taxes as possible.
But that’s NOT true.
There is a HUGE difference between tax preparation AND tax planning.
If you have not taken the time to work with you CPA on a comprehensive tax plan you are leaving thousands on the table.
EVERY YEAR.
Schedule a one-on-one consultation at the link below:
If the answer is once per year during tax season, you likely are overpaying in taxes.
Tax preparation is focused on summarizing your historical information to accurately and timely file your tax return to remain in compliance with the IRS.
Tax Planning looks at your current operations and future projections to determine aspects of the tax code that can benefit your business and reduce your taxes.
Tax planning requires speaking with your CPA well before tax season and on a consistent basis.
The simplest way to put this is that tax preparation is a historical process but tax planning is a forward looking process focused on future tax savings.
We cover the following aspects of your business and more during the tax planning process:
✔️ Legal Entity Structure
✔️ Accounting Method Optimization
✔️ Sales Tax and Other Compliance Assessments
✔️Deductions
✔️ Retirement
✔️ Insurance
✔️ Legal Tax Loopholes
✔️ Recent regulatory change
✔️ Niche specific strategies
✔️ Advanced planning strategies
Do you want us to help you with the tax planning process?
Schedule a one-on-one consultation at the link below:
Despite common opinion, the government actually wants business owners to reduce their taxes.
The tax code is your map to wealth creation.
Yes, I understand that most people think Uncle Sam is there to take your profits and view taxes as nothing more than a sunk cost.
We all know the famous quote from Ben Franklin – “Nothing is certain but death or taxes.”
You only die once.
You file taxes yearly. This is the only certainty.
Not everyone pays the same amount of taxes.
Some pay $0 in taxes and make millions.
The key question is how much do you pay?
I recently delivered a tax plan to an eCommerce business owner.
Before they worked with Camuso CPA on their tax plan their prior CPA told them during their tax preparation last year that if they want to pay less tax then they should make less money.
This mindset disgusts me.
Don’t take these clichés from your CPA or advisor as truths.
After we implement the tax strategies, we outlined in our tax plan, this business will save $26,700 on taxes.
EVERY YEAR.
That yearly savings reinvested back into the business at only an 8% return will yield $1,319,592 over the next 20 years.
Do you want us to help you with the tax planning process?
Schedule a one-on-one consultation at the link below:
The tax code is simply an incentive system for businesses designed by politicians.
A series of stimulus packages for businesses.
If the tax code was created just for you to pay taxes it would be 10-15 pages rather than 70,000+ pages.
How do wealthy businessmen and investors pay NO taxes while others just complain about this fact?
The short answer is because they work with highly qualified CPA’s to identify the tax opportunities within the 70,000 pages of tax code that ALLOW them to pay no tax.
The reason why the tax code is so complex is because there are thousands of tax incentives in the form of deductions, credits and deferrals that can save you thousands of dollars every year.
That’s all the tax code really is- a series of stimulus packages designed by politicians to provide cash flow to businesses that structure their operations strategically.
The tax code shows you how to reduce your taxes and amount huge amounts of cash flow.
If you ignore the tax code you do so at your own financial peril.
Camuso CPA is different than many CPA’s that focus on just preparing your taxes during March or April.
Yes, we can accurately handle your business and personal taxes.
But we also focus on significantly reducing your taxes and improving your profits with proactive strategies tailored to your business.
Do you want us to help you with the tax planning process?
We cover the following aspects of your business and more during the tax planning process:
✔️ Legal Entity Structure
✔️ Accounting Method Optimization
✔️ Sales Tax and Other Compliance Assessments
✔️Deductions
✔️ Retirement
✔️ Insurance
✔️ Legal Tax Loopholes
✔️ Recent regulatory change
✔️ Niche specific strategies
✔️ Advanced planning strategies
Do you want us to help you with the tax planning process?
Schedule a one-on-one consultation at the link below:
