Small Business Tax Secrets
What is tax planning?
Tax planning is something that should be done for any business before the year is over. When it’s time to prepare taxes in the Spring, it’s usually too late to implement most strategies for the prior year.
Any time there is a significant change in your business and especially when you’re starting or growing your business, you need to have a plan to make sure you are taking deductions the right way and that they fit with the type of legal entity you have and your long-term goals.
Although there are literally hundreds of tax saving strategies, we will cover the following seven topics:
- Maximize business deductions
- Use a business entity to reduce taxes
- Home office: red flag or one of the best deductions?
- Maximize your automotive and business travel expenses
- Loophole to deduct your child’s college expenses or support your parents
- Deduct vacation travel – the right way
- Build wealth the tax advantaged way
About the presenter: Simon Hase, CPA is not just a Certified Public Accountant based in California, he also focuses on tax reduction strategies. When Simon first got into the accounting industry and investing in real estate, he started seeing that there were layers of deductions and strategies that many business owners did not know about and were missing out on. He became interested in how proper tax planning could help business owners accomplish their goals faster. Learning from various tax experts, mentors and organizations, he decided to make tax planning a central focus for clients when he started his own tax & advising firm. On a regular basis, he helps clients save tens and even hundreds of thousands in taxes that other tax preparers simply miss.