Save Your Taxes with Accountable Plans
The reimbursement for employee’s travel, entertainment, tools or other costs is best done with the accountable plan. This plan will deduct the expenses from the business rather than reporting reimbursements as income to employees. Ultimately the business will save money from the employment taxes.
Consider talking to your accountant about maintaining a successful business without triggering tax. Topics may include tax-free fringe benefits and loans to you on a no or low-interest basis.
Save Your Taxes with Year-End Planning
Tax planning is a year-round responsibility but there can be more success with savings when the actions are done at the end of the year. It is important to revalue your assets that are listed on your books as well submitting your taxes and filing them on time.
Redeveloping the Business Structure
The key to saving on taxes may result in a new business structure. This can be discussed with your accountant to sort out all the numbers.Make sure you go to the right accountants that are there for you 24/7 and can answer all of your business and/or personal tax questions and do the job to save you the taxpayer, the most every year.
Contact us at kickstartaccountinginc.com