After several years of low examination rates the IRS has determined to increase small business audit rates by 50%. This means it’s more important than ever to balance tax planning goals with the fact that the IRS is planning to scrutinize more small businesses to ensure legal and ethical tax compliance.
If you want to reduce your taxes as much as legally can and still have peace of the mind that the IRS is not coming for you, then you’ll want to read this article.
Ethical tax planning means following the tax code and implementing strategies that benefit your bottom line, but also ensure that you are not triggering a red flag which could mean an audit is on the way.
You are not obliged to pay any more taxes than you are ethically obliged to pay pursuant to the tax code. This means you absolutely should take advantage of tax laws that have a positive effect on your bottom line.
At the same time, you need to weary of “backyard bar-b-que tax planning”. That’s what I call tax advice that comes from someone other than a CPA Tax Specialist. Before getting advice from someone, you should check their pedigree –
1) Does this person have any professional credentials? Are they a Certified Public Accountant (CPA)?
2) What are people saying about their services? Do they guarantee any of their advice?
3) Has this person written any literature or books on the subject of tax planning? Does this person own their own CPA firm?
These are just a few items that you should on your checklist before taking advice about tax planning.
In addition, you should continue to implement legal and ethical tax strategies.
Depending on your situation, you can reduce your taxes by as much as 10-30% by incorporating legal loopholes.
For those reasons, I’ve put together an extraordinary report about how you can ethically reduce taxes without having to worry about an IRS audit.
Here’s what I’ve revealed in this report:
- How to increase your tax deductions
- A simple method for saving $2,000 – $3,000 in taxes every year
- How to structure your business for maximum tax efficiency revealed
- An easy way to save taxes and increase your net-worth, fast
- The powerful hidden benefits of an obscure tax law
Just putting one of these ideas to work can dramatically increase your bottom line. You can discover all the details in our Tax Reduction Kit here.
When you work with us, you can be confident knowing that
- We are a Certified Public Accounting Firm
- All of our advice is guaranteed to be backed up by the tax code
- You are working with experts who have written books on the subject matter and utilize some of the same strategies for their business (meaning we have skin in the game!)
Just go to to get your free report.
ABOUT THE AUTHOR: Joe Gallegos has created tax strategies and operating systems for businesses that have saved taxes, increased cash flow, and profits. As the Managing Partner of Tax and Consulting for JAG + Argueta CPA Firm , Joe has taught hundreds of business owners his step-by-step strategies for creating their own success and obtaining more time and more profits. For more profit creating business tips, tactics and strategies, sign up up for our tips here.