Tax Planning and Tax
Compliance
In determining our
strategic model of tax minimization we look to
four guideposts:
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What are the long-term objectives of
the client? |
| • |
What are the working capital formation
needs of the business? |
| • |
How can we minimize taxes in the long
run? |
| • |
What tools can we employ to meet the
client's needs? |
Capabilities
Bodtke & Stewart has been successfully assisting
our clients in meeting their tax planning needs
for over twenty years. You will find us in the field
prior to our client's year end, studying strategy,
doing interim tax accountings, and suggesting alternatives
to managing the outcome of the annual tax return
compliance process.
Business Organization
Should the client incorporate? If incorporated,
should the client make or break an S election? Would
placing shares with family members assist in Estate
and Succession planning? Should the client form
a pension plan to shelter assets and obtain tax
deductions?
Economic Planning
How much working capital is needed to run the company
effectively? Can we retain working capital by paying
rates at the more favorable C corporate rates to
meet this needs? Can we gradually recognize taxable
income to meet the required working capital needs?
What can we do to be certain the tax return maximizes
the low corporate rates, and does not exceed the
brackets?
Tax Forecasting
Based on our tax accounting of the
last eleven months, and our projections of our month-to-date
operations, where will the client's tax liability
be at year-end? Can we defer income or accelerate
deductions to achieve the optimal tax situation?
Can we create net operating losses to recover previously
paid taxes in prior years? Should we bonus the owner/shareholder
compensation or leave it in the company to meet
the working capital projections we identified?
Resource Planning
If you are only seeing your accountant at "tax time",
when the year is over and he is determining the
tax owed, you are not effectively making use of
tax planning. We urge you to speak with one of our
tax professionals prior to year end, to plan, control,
and minimize your tax obligations.
No accountant
can make taxes go away for a client completely and
forever, but the failure to plan is the single largest
waste of resources we find in new clients we serve.
If you need assistance, simply
contact us.
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More information on our services:
Accounting
Auditing
Tax
Consulting
Pension
Services
Litigation Support
Business Valuation
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