Tax

Entity

Choosing the Right Entity

Choosing the right entity is determined based on the nature of business, goals of the partners and the location of the business.
The goals are to reduce your liability exposure and tax obligations.
You can also modify your current entity to enable you to reap the tax benefits. A review of your current entity structure and modify them may bring additional tax benefits to you. We can help you with incorporating your new business.

Your protection against of risk of liability exposure to third parties may be very similar in case of C Corporation, S Corporation or LLC. You can also consult with an attorney before you finalize the type entity to choose. When it comes to the tax liability on your taxable income, S Corporation is still preferred. It could change every year when the Congress legislate new laws or redraft provisions in the existing law.

Designing an Accounting Method

Designing an Accounting method, like cash or accrual method, could help you defer taxes, gain control of your cash flow and cash management.
In some business your waiting time on your accounts receivables may be too long. In an accrual basis tax is determined based on the goods and services billed than when it is paid. You are paying on income that you have earned and not received. This brings an additional tax burden on your business and could lead to a can deficiency situation. At the same time, this will help you to get a line of credit or a loan from a financial institution, since they go by a percentage of gross receipts. Also the growth of business also indicated by the earned receipts and not on collected receipts.

Financial Recovery

Businesses experience financial downturns due to market fluctuations, severe competition, improper allocation of resources, untimely actions and wrong decisions. There rae curative techniques for corrective actions to recover the financial losses. We can help you plan and execute ways for financial recovery through systematic planning, state by stage implementation.

Pre-Acquisition Consulting

Managing Cash Flow properly is essential for a smooth operation of the entity. Appropriate Cash Allocation, Budgeting for stability and creating proper reserves to avoid unforeseen financial breakdowns are ingredients for a flawless operation.

Internal Control

Tax Potfolios

Allocation of tax between various portfolios to gain better control on Cash Flow, Tax Planning keeping in full compliance with tax laws. Multi-generation planning, allocate income between family members, pre-tax Vs post tax income allocation, and passive vs active income, expensing vs. depreciaSting an asset are some of the thoughts that can be applied to diversify tax sources.
Governments always plan to provide incentives to small businesses. Bonus depreciation is an attractive tax incentive

Cash Flow Control

Tax agencies allow Compromise Tax Obligations for less using considering your troubled financial situation. Compromise petitions are very time sensitive, depends purely on individualistic situations. Tax agencies are eager to settle tax obligations due to high collection costs and legal formalities. Affordable payment Plans are feasible with right presentations and proper filing. It is very important to manage tax levies.

Tax Compromise

Strategies for Growth

Internal Control is as important as any other financial tools. We can help you modify the current internal control and bring proper internal audits to deter employee theft, comingling of accounts and cover up.
Office Flowchart will define chain of command and help you avoid wasteful resources and properly assigning specific responsibilities to personnel.

Especially in a cash based business,

Finance

Business and Economic growth are not given, but created through strategic planning. Tax can be used as a tool for financial growth and financial stabilization.

Designing a plan that stimulates financial growth and strength for your entity is an important towards financial strength. Strategic use and application of available resources can strengthen the entity and enable viability.Economic Growth is time bound, needs timely action and periodic analysis. Properly managing the Business Risk helps reduce wastage of resources, time and enhance easy administration. It is an art, more than a science, to optimize your resources.

You must have been dreaming to own a business, but you may need to ask the following questions to yourself:
Is that the right business for you
Is the business risk too much for me
What is the yield or the Rate of return
Can I make a budgeted income
What are the exit strategies if the project fail
How do I do projections.