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TAX PLANNING STRATEGIES
Effective tax planning makes April 15 just another springtime day. No tax planning turns April 15 into doomsday.
We at RCPAG believe that using tax planning and relevant strategies, is one of the most important time investments a business person can make. Individual circumstances will determine the best plan of action, however some general strategies might include:
- shifting income among family members and other legal entities to better utilize credits, deferrals and rate reductions
- proper timing of revenue recognition
- considering the use of tax exempt securities
- implementation of a qualified retirement plan
- hiring dependants for various odd jobs in the business allowing them to accumulate funds for college
- rethinking business structure to optimize tax credits and benefits
But no matter what strategies are implemented, they must be planned and accomplished before December 31st. Once the tax year is over, with some minor exceptions, the time for planning is over as well. Contact us today! Let's begin planning for this year right now!
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