-- Associates in Accounting, CPA is introducing a streamlined four-point tax planning model designed to help small businesses in Louisville, Kentucky, reduce tax liabilities legally to improve their financial standing. According to the company, the announcement of this model is timely, as many small businesses are seeking ways to reduce the outflow of cash amid economic uncertainties.
More information is available at https://associatesinaccountingcpa.com/
The firm’s approach focuses on key areas often overlooked by business owners, from how a business is structured to the way owners are compensated. “Our tax planning model is simple yet incredibly thorough,” said a representative from Associates in Accounting. “We focus on the four core areas that, based on our experience, make the biggest difference in tax outcomes.”
Associates in Accounting’s process begins with an examination of the client’s current business structure to see if it’s tax-efficient. Based on its findings, it may recommend shifting to an LLC, S Corporation, or C Corporation to reduce overall tax burdens for both the business and its owners.
Compensation is another aspect examined by the firm. Its approach is to customize a salary structure that balances what the owner desires as compensation and what the IRS considers reasonable to remain compliant. “In short, the compensation needs to be structured in a ‘salary structure’ for every owner to minimize taxes and maximize benefits,” the spokesperson added.
Another issue addressed by Associates in Accounting’s tax reduction model is missed deductions, which it explained is due to a lack of awareness of these write-offs and fear of IRS audits. “We know for certain that many business owners unknowingly leave money on the table by missing common deductions,” the spokesperson said. “This is why we conduct a thorough review of office, car, cell phone, and internet expenses, so they all get reported.”
The fourth aspect of the firm’s approach is having a database of proven strategies ready for specific situations, such as the creation of a retirement account or the acquisition of company equipment. “We want to be sure our clients have access to the most relevant strategies for their business goals, so they can act with confidence.”
Associates in Accounting comprises experienced CPAs and is a member of the Kentucky Society of Certified Public Accountants and the American Institute of CPAs.
Business owners who want to know more about the firm’s approach to tax reduction are encouraged to book a discovery call at https://associatesinaccountingcpa.com/
Contact Info:
Name: Melissa Hayes
Email: Send Email
Organization: Associates in Accounting, CPA
Address: 9405 Mill Brook Road Suite 102, Louisville, Kentucky 40223, United States
Website: https://www.associatesinaccountingcpa.com
Release ID: 89163361