Ask just about any financial planner or tax expert and they will all tell you that having your own business is a vital part of any tax strategy. They will tell you that if you aren’t taking advantage of the tax laws, you may be over paying thousands of dollars in taxes each year. A couple of key elements would be to have that business bring you the greatest tax benefit with the least amount of risk.
The three most important things tax experts will tell you to make sure you do is:
1. keep accurate records
2. keep accurate records, and
3. keep accurate records
With a good accounting system in place you will be able to instantly track those expenses that you determine are tax deductible. If you incur an expense that you think may be deductible, we will tag it to automatically be merged into your tax report. At the end of the year you simply take the report we send you and take it to your CPA, or accountant.