Our tax professionals at Redmon & Redmon can provide valuable consultation and insight for tax planning for short-term and long-term success. Whether it is quick insight on how to best maximize your tax preparation or if it is tax planning throughout the calendar year leading up to the end of tax season, our associates are here to assist you in all aspects of tax and accounting planning. While we certainly assist individuals with tax planning, it is our small business clients, contractors, professionals and entrepreneurs that utilize our tax planning services the most.
Planning for taxes can be tricky for business owners because there is a balance in the overall budget to keep while investing in equipment, employees, or other valid business expenses can serve in the growth of your company while also lowering your net profits for the calendar year. Whether you have questions about the tax bracket you’re estimated to be in or need insight on carrying careful ratios to avoid tax penalties, it is important that you plan ahead rather than waiting right before the deadlines.
There is a significant difference between tax avoidance and tax evasion. The tax laws truly are there for the benefit of the business owner to support growth and investment into their business. It is when small business owners pocket a significant portion of their profits that creates significant tax amounts. When small businesses and professionals invest in their company with necessary business expenses, invest in their employees with payroll and bonuses, and other various business growth expenses, these are natural exemptions in the tax code. Not every business expense is a complete write-off, however, and it is important that you consult with our tax professionals to help you understand the nature of the tax laws and exemptions. Some exemptions can even vary depending on what type of business entity or classification you are filing as.
The tax professionals at Redmon & Redmon keep a consistent check on the latest tax changes and how they may affect our small business clients. While you are busy growing your business and allocating your time towards your customers, patients, and clients, it is important to have savvy tax professionals on-demand when you need us most.