You know what Americans love even more than Thanksgiving? Leftovers! It has to be true, because we're all too busy standing in line outside Target to enjoy an actual Thanksgiving feast when it's hot out of the oven. But everyone appreciates a leftover turkey-and-stuffing sandwich when they get home after saving $50 on a 65 inch LED Smart TV.
Well now that Black Friday, and Shop Small Saturday are in the rearview mirror and Cyber Monday is upon us, those leftovers should be all gone (of course there is a half eaten leftover turkey club sandwich in the fridge). Many small business taxpayers have shifted their focus to closing out the year end and the continued spirit of giving. There are a few “IRS Leftovers” that many small business owners may want to focus on before December 31st.
• ACA (Obamacare) Guidance
• Updated 2015 Tax Figures
• Tax extenders uncertainty
We will be conducting end of the year tax seminars to address this any many other issues that affect small businesses and their employees.
Why is it important for small business owners to sit down and have a plan before December 31st?
Because tax planning is the single most effective way to save your hard earned dollars this year. I mean sure you can stand in line for hours on Thanksgiving missing time with your friends, family, and football to save $50 on “last year’s” technology or you can sit down with your tax professional, set up a defined benefit plan or many other tax strategies and save enough money to 4 new TV’s with the tax savings.
Without tax planning, you're probably going to spend a lot more on taxes this year than you have to. That however, does not have to be the case. We need to sit down and talk about it now, before the end of the year. Are you willing to risk another year pass by and waste a bunch of money on taxes you don't have to pay?
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