Thursday, March 11, 2010
Tax Path - we know the options well. Tax planning and preparation at Bodilly CPAs and Consultants.

Tax Preparation and Tax Planning

Tax Preparation
Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

Tax Planning
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.

Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.

Tax Related Articles

  • Choice of Taxable Years for S Corporation
  • Comparison of Pass-Through Entities
  • Computation of Basis in Stock and Debt
  • Eligibility Requirements for S Election
  • Fringe Benefits Provided by an S Corporation
  • Limited Liability Companies
  • S Corporation Overview
  • S Corporation Qualified Plans
  • S Corporation Taxes in General
  • State Recognition of Business Entity
  • State Taxation of S Corporations

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Case Study

Tasha ChambersOne service that we perform at Bodilly is to discuss entity choice with new businesses as well as established businesses, to ensure that their entity status affords them the most advantageous tax treatment. This client had a very successful business and had been in existence for 10 years, and was being taxed as a sole proprietor. We conducted a discussion with the owner regarding the prospects for the business over the next year and 3 years, and what the owner’s goals were for the business as well as personally. From that we suggested changing tax status from a sole proprietor to a S Corporation, which they agreed to do. The business continued to prosper, and the owner is very grateful for the money in self employment taxes that has been saved since the entity change.
 
Tasha Chambers, CPA
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