As business tax consultants we do not take the place of the client's tax professional and are not set up to do returns, quarterlies, audits, P&L's, Balance Sheets or the like. Rather we interface with the areas of business tax planning that can save the client money NOW! Many times we are asked to run our ideas by the client's tax professional which we prefer to do.
Another major difference is that we do not charge any upfront fees for consulting, etc. Our fee is based only on a % of the tax or expense savings, if any. We guarantee results or you pay nothing. Not many businesses are willing to do the work first to see if they can help you.
Another big difference is that we have more tools and resources available, including proprietary software, than most tax practitioners have. In some cases after visiting with tax professionals they have decided to add these other services because as competition grows even tax people are becoming more commoditized. Some are being shopped like people shop for car insurance.
Every business has certain common elements such as employees, payroll, buildings and or leasehold improvements, property taxes for real or personal business property, research and development costs, workers comp insurance costs, credit card processing fees, waste and disposal fees, etc.
To the right is an example of what we were able to do for one company:
Keep in mind a company does not have to own their own real estate to accomplish great savings. Also certain benefits can be carried back up to 3 years and forward up to 20.
Our client, who by the way uses a very reputable accounting and tax firm. was amazed and delighted at the savings we were able to identify and that they were able to realize.
In addition to our tax slashing program we have a proprietary retirement plan for business owners that does not have to be provided to employees. It is tax deductible for those who qualify and the money can be taken out tax free.
Hiring Tax Incentives - a deduction from taxable income
$42,000
Credit Card Audit - overpayment in processing fees
$5,256
Workers' Comp Audit - refund of insurance premiums
$14,250
Payroll Tax Credit - a deduction from taxable income
$62,400
Cost Segregation Expense - a deductible expense
$109,150
Property Tax Savings - Less Property Tax To Pay
$12,548
Waste & Recycling Benefit - reduced cost
$675
Total Benefit - $246,279