| It is estimated that each year, legitimate taxpayers overpay their Federal and State taxes by over $10 billion by not taking advantage of many legal tax loopholes that are available to all of us.
In addition to the typical services offered by most accounting firms, such as Income Tax Preparation and Financial Statement Reporting, we DIG DEEP to find under-utilized tax saving and income enhancing strategies available to you that are not mainstream thinking.
Some areas to consider: |
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| How to contribute more than $200,000/yr for your retirement |
| Everyone has heard of 401(k) retirement plans, Roth IRA's, and IRA's and SIMPLE plans, but a little known type of retirement plan under the tax code, known as a 412i Plan allows Upper Income taxpayers to deduct amounts as high as $400,000 per year. This is a great tool for Professionals who own their own businesses, with no, or few employees. It can also be used in tandem with an existing 401(k) or Profit Sharing Plan.
It is also a great tool for taxpayers in their 50's that need to "boost" their retirement contributions due to the realization that they haven't saved enough to meet their retirement needs.
The investments in the plan are funded with a combination of Life Insurance and Annuity products that guarantee future benefits and are sanctioned by the IRS because of these guarantees.
For more information on this type of plan call our office for a FREE CONSULTATION at 678-474-9997.
Or ask for a FREE BROCHURE ON 412i PLANS, (ask for Jackie) |
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| Lower your taxes by 30-50% with this under-utilized method |
| The biggest single thing most tax professionals can offer to their clients to lower their taxes is TAX PLANNING. Ironically, this is not a service that is routinely offered by most CPA's.
You do have the ability to control the amount of tax you pay to the government by implementing tax planning strategies well before the end of the tax year occurs. If you are like millions of Americans, and wait until April 15th (or worse, August 15th) to do your taxes, you are allowing the process to control the outcome.
If you own your own business you are in an excellent position to use strategies to shift income and expenses and utilize government subsidies and various programs to enhance your personal net worth.
Don't leave your tax bill to chance; take control and empower yourself to lower your taxes by Tax Planning.
Call 678-474-9997 for a FREE CONSULTATION to discuss strategies. |
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| Are you an Active Stock Trader? |
| If you are buying and selling securities frequently, and can be classified as a "Trader", you may be eligible to use a "Mark to Market" election to treat this activity as a business. As such, you can deduct all costs associated with your trading, in-home office, computers, periodicals, etc as an "above the line" deduction. (Most investment costs are deducted on Sch A and are limited to anything over 2% of your income, and then subject to disqualification again under Alternative Minimum tax).
Additional benefits under this method, allow for a direct write-off of any stock losses, NOT limited by the $3,000 current annual limitation. Imagine a year where you may have lost $50,000 in the market, that deduction will take several years to write-off your total loss!
Careful consideration should be placed on changing to this method of accounting, as with the "Pros" comes some "Cons". Not all of your investment gains will be taxed at the lower capital gains rate %, and all gains and losses must be recognized at year end, even if the stock is not sold.
If you would like to pursue this method of accounting for your stock trades, please call 678-474-9997 for a FREE CONSULTATION. |
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| Learn how IRS is cheating you out of certain deductions |
| IRS has two methods to calculate the taxes you owe, one is the traditional method and the second is called ALTERNATIVE MINIMUM TAX. Originally this tax was designed for the wealthiest of taxpayers, to be sure the government got their fair share of tax due to creative methods reserved for the wealthiest taxpayers.
This second method of calculating taxes is affecting more and more taxpayers each year and is estimated that 78% of taxpayers earning between $200,000 and $500,000 will be subject to this tax in 2005. Chances are you will be too.
IRS requires that a dual method be used to calculate your tax and they get to pick the tax that is the highest. The deductions that are not allowed under the second method will be items such as Property Taxes, State Income taxes, Exemptions, and any 2% Miscellaneous Deductions. These items are virtually non-deductible to you anymore if you fall in this category.
Through proper Tax Planning, some or all of this tax may be eliminated if you are informed early enough of it's probability. Call the office at 678-474-9997 to set-up a FREE CONSULTATION to discuss.
Or call Jackie, and ask for a FREE BROCHURE on TEN WAYS TO LOWER YOUR AMT.
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| How to enhance the probability of your company's Financial Success |
| For many business owners and busy professionals, each day involves "reacting" to the day to day pressures and activities that we are called to do. We get caught up in the "tyranny of the urgent"
For our daily activities to have maximum effectiveness, they should be linked to a plan or forecast for the future. Through the use of Budgets that clearly define goals, you can create a road-map for your business that will greatly increase the odds of acheiving the future you envision for yourself.
The whole purpose of Budgeting and Forecasting is to define the "intelligent effort" required to meet certain goals. We can assist you in recognizing what needs to be accomplished to increase profitability, and we can combine this with your regular financial reporting through the use of comparatives to help you monitor your progress.
Call 678-474-9997 to arrange a FREE CONSULTATION to see how we can help you increase profitability.
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