Call Us(925) 307-5454
Bookkeeping 101: What is the difference between a TAX PREPARER and a TAX PLANNER?
There’s a MAJOR difference between a tax preparer and a TAX PLANNER. A tax preparer tells you how much you “OWE” A tax planner tells you how much you can “SAVE.” Right now, we’re offering FREE tax assessments to businesses who want to keep more of their hard-earned money.
So how do you do tax planning with a business when so much is still uncertain? Very carefully and with an experienced bookkeeper. We know the current situation, and we know we could be seeing changes across:
* Individual Income Tax Rates Going Up To Almost 40%
* Capital Gains Rates To Over 40%
* Corporate Tax Rates To 28%
* Elimination of Step Up In Basis
* Partial Elimination of QBID
* Elimination of S/E Cap of $137,700
* Child Tax Credits
* Repatriation of Profits
* Energy Tax Incentives
* Itemized Deductions
Any or all of which could be retroactive to 1/1/2021. And who knows what else. And you need to sit down with a good bookkeeper (us) and look at what to do.
2021 – before CARES II and tax law changes
2021 – after CARES II and tax law changes
2022 – and beyond.