Planning for Growth; Minimizing Liability
What goals have you set for your business? What growth do you expect this year and next? Scott wants to know about your business plans in an effort to provide quarterly and year-end tax projections and related advice to minimize tax liabilities.
The most profitable tax planning is done prior to year-end. If you are anticipating a significant transaction like selling a business, tax planning must be completed as early as possible.
The proposed sale of a business is a great example of why tax planning is critical. For the seller of a business, the tax consequences of a sale affect the after-tax cash flow as much as the selling price of the business. It is of utmost importance for the seller to know the after-tax result in order to determine a selling price.