Tax Savings Are A Year-Round Opportunity
With another tax filing deadline gone by the board, tax savings may not be uppermost in your mind. Or maybe your business had to write a substantial check to Uncle Sam and tax savings sound pretty attractive right now.
Either way, it'd be a mistake to return to business as usual without re-examining whether you got all the tax breaks you should have. And doing so while the pain of making that tax payment is still fresh in your mind may actually be the best time to take a fresh look at your business tax strategy.
If yours is a small to mid-sized U.S. business, your friends at the IRS report that more than two-thirds of you are failing to take all the tax deductions for which your business is eligible.
That's right, the IRS is TELLING you your business is probably leaving money on the table -THEIR table, thank you very much.
Audit Fears Are Costing You Money
Now why would any business - much less the majority of them - be willing to pay more in taxes than they should, especially when corporate taxes are considered by even big company CEO's as the greatest threat to their business growth? (1)
The answer for the big boys is most likely fear - fear of an audit that might force a financial restatement that could threaten a corporate tax executive's career.
For the rest of us it's probably that plus the challenge of keeping up with the day-to-day demands of running a business. Deadlines like April 15th are often greeted with a sigh of relief that you can now get back to business (once you stop licking your wounds, that is).
But is this endless cycle of anxiety, pain, and relief the best way to run a business? And are you really comfortable with the IRS telling you you're probably paying them too much in taxes?
Your Friend, The Taxman?
They say the two things you can't avoid are "death and taxes", right? You may not be able to turn the grim reaper into a business ally, but there may yet be an opportunity to turn the taxman into one.
You read that right. The majority of small and mid-sized businesses have the chance to recover some of their tax dollars with more accurate tax filings that the IRS actually encourages.
Maybe it's time - with taxes still fresh in your mind - to start fixing some of your business tax oversights and omissions and boosting your cash flow by doing so.
What Would An Extra $240K
Do For YOUR Business?
Our average client saves $240,000 in tax savings - and all of it falls straight to their bottom line. How many millions in new sales would your business need to generate to produce that kind of positive impact on your bottom line?
The IRS, it turns out for many, may be the best source of new capital to grow your business rather than the threat to growth it's generally perceived to be.
Get The Expertise To
Do It Right
You can't know whether your business qualifies for some of the specialized tax incentives the IRS encourages - payroll tax credits and accelerated building depreciation, for example - without calling upon those who specialize in these tax incentive programs.
That's not your average accounting firm, who don't generally have the engineering and intellectual property expertise required to document and claim the tax refunds and/or credits your business may be entitled to.
You simply can't have an effective tax optimization strategy without deploying these specialized tax incentives.
We'll work with your accountants to make sure your business is minimizing its tax burden and optimizing any tax credits to which you're entitled.
And you'll have the comfort of knowing you're proceeding with the kind of expertise that's found over $300 million in tax savings for clients over the past decade and never had a tax claim denied by the IRS.
If this sounds like a smart move to you, you can get a quick estimate of your potential business savings with our online tax savings calculator - click here.
(1) "16th Annual Global CEO Survey: A focus on tax", PwC, 2013.