SERVICES — TAX SERVICES — TAX PLANNING
Business Tax Strategies in Texas
For small business owners in Texas, effective business tax planning is crucial for maximizing tax savings while minimizing their tax liability.
Tax Planning
Tax planning is a year-round event if you want to minimize your business's tax bill. Whether it's surviving an audit, capitalizing on business deductions, or finding tax-friendly ways to run your business, we can help reduce your tax obligations and make paying taxes less stressful.
Strategically planning for the next tax year involves considering business expenses and tax deductions, which can significantly reduce your overall tax burden. A well-structured retirement plan can also offer valuable tax relief. As the end of the tax year approaches, small business tax strategies become increasingly important, allowing business owners to optimize their tax return filings and potentially lower their income tax rate.
Consulting our tax advisors for personalized tax tips can lead to a more favorable tax filing outcome.
One key aspect is understanding the various tax rates that apply, including federal tax and state tax. The Tax Cuts and Jobs Act has provided some tax cuts that can positively impact business income.
Engaging a tax professional can help navigate tax law changes and identify tax benefits such as income tax credits, including energy tax credits for sustainable practices.
We can advise you on:
Business Structure - The legal form of the business and its tax structure
Deductions and Write-offs
Home Office Deductions
Depreciation & Section 179
Inventory - End-of-year inventory levels and their impact on your taxes
Business Vehicles
Timing of Income and Expenses
Officer & Employee Compensation
Record-keeping and Retention Schedules
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(817) 332-7237 | Toll Free: (844) 332-3002