Tax Planning For Unique Small-Business Needs
Skilled Tax And Business Attorneys At One Law Firm
Small-business owners can amass significant tax savings each year with the help of experienced tax attorneys. Knowing U.S. tax law, international tax law, business law, employment law and real estate law are significant advantages to your tax planning.
At McCoy Fatula, we advise clients across the U.S. on securing tax benefits and reductions for being a small-business owner. Working with our skilled and informative team can keep you in the good graces of the IRS while significantly reducing your tax burden.
A few strategies we will discuss with you include:
- Choosing the right business formation for your goals and business needs
- Evaluating employee benefit and compensation plans that are right for your business
- Advantages of defined contribution retirement plans vs. defined benefit plans (maximizing 401(k) contributions)
- Small-business startup costs
- Home office deductions
- Shifting your income to a lower tax bracket
- Maintaining government compliance with your tax planning
- Depreciation of real estate, equipment and other property
- Immediate deductions of capital assets
- Electronic record keeping efficiencies and diligence
- Local tax credits
- Self-insurance or reinsurance
Properly documenting all of your business expenses and keeping them separate from personal expenses are crucial. Significant tax savings can be achieved through expense deductions for travel, gifts, meals, entertainment and transportation.
Estate Planning And Your Business
Everyone needs an estate plan created with the help of a legal professional, especially small-business owners. Our attorneys are thorough estate planners who are also extensively experienced business succession planners for all sizes of businesses. Based in Roseville, California, we earned our small-business tax planning chops in the Sacramento area and quickly expanded to serve clients nationwide with our innovative techniques.