Tax Planning
Proactive Tax Saving Strategies to Maximize Your After-Tax Income
Reduce your business tax liability with advanced tax-planning strategies from 4Corner Business Services. Our team of tax planning experts give you the confidence your taxes will be done in compliance while also maximizing your savings. As your tax planning partner, we work closely with you to conduct a comprehensive financial analysis designed to save you as much money on taxes as possible, and provide tax saving strategies to maximize your after-tax income.
We Stay Current On Tax Law, So You Don’t Have To
Tax policies change every year, but when you work with 4Corner, you never have to wonder if you’re compliant. We stay up-to-date on the latest changes in tax law, both on the state and federal level. We also look to the next year to be ready for changes and have the expertise to correct the previous year’s back taxes. This proactive approach to tax planning and preparation streamlines the filing process, creates year-round efficiency, and reduces the amount owed.
Tax Planning vs. Tax Preparation
What is the difference between tax planning and tax preparation, and do you need both? There are key differences between tax planning and tax preparation. Understanding the role of both can bring cost saving benefits to your business.
What is Tax Planning?
Tax planning is a year-round financial best practice that includes reviewing your accounts and seeking out tax-saving opportunities. Tax planning prepares your personal or business finances in a way that allows you to keep as much of your hard-earned money as possible. Our planning services involve routine checks of accounts and evaluating what’s owed. This ensures you pay only what the IRS expects of you – which is the most efficient way to save cash.
Tax Planning Strategies For Small Businesses & Individuals:
Your tax planning strategy will be unique to you or your business’s goals and current financial status. Our team of tax planning accountants will provide individualized business and personal tax advice to help you reduce your year-end taxes. These strategies may include:
- Tax Status Changes: We’ll monitor your business’ growth and help you transition to a new tax status when you begin to outgrow your current structure.
- Adapting To New Tax Laws: Tax legislation can be introduced throughout the year. We stay on top of the latest laws and acts to help you take advantage of new tax credits and write-offs
- Accounting Changes: How you manage your accounting can impact your year-end taxes. We’ll support you by suggesting alternative accounting methods to reduce your taxes.
What is Tax Preparation?
Tax preparation occurs before taxes are due, and at 4Corner, we prefer to start early. Our team takes the time to understand your financial situation and tax liability before compiling the necessary paperwork and completing the filing. We fine-tune all personal tax returns and give even the simplest returns the time they need to ensure you’re paying the lowest taxes possible. We prepare business taxes on a quarterly and yearly basis with the same level of detail.
Why 4Corner Provides Both
Taxes are unavoidable, but with the right preparation, you can avoid the penalties and problems that come with incorrect returns or inaccurate reporting. 4 Corners’ two-fold approach to tax planning and preparation streamlines the returns process, protects your bottom line, and reduces the stressors that come with completing your taxes.
Frequently Asked Questions About Tax Planning
- How can tax planning help my small business reduce taxes?
Since tax planning is a year-round service, it can help you stay on top of ever-changing tax laws and legislation. 4Corners’ proactive approach will help you take advantage of tax cuts or legislation changes in-the-moment, which can add up to huge savings at the end of the year. - Is tax planning appropriate for individuals?
Absolutely! Tax planning for individuals can be extremely helpful in reducing your yearly taxes. Individual tax planning services are comprehensive and include tax withholding, retirement, investments, deductions, and more. - Why should I do tax planning and year-end tax preparation?
Expert tax preparation can minimize your risk of incorrect filings and reduce your taxes, but you’ll likely experience larger savings when you combine tax preparation with tax planning. By adjusting to tax changes as they occur, you have a better chance of reducing your year-end taxes.
Contact 4Corner for Tax Planning in Denver
