I’m Tax Accountant Jim Trippon with a short lesson on Tax Planning and Tax Accounting practices that are fool proof to save you money on this year’s income tax return.
Tax accounting and income tax planning is the best strategy for reducing the “Sudden Shock” from the Tax Man during income tax season. One little mistake, grey area accounting error, or illegal deduction can be very costly with IRS penalties and interest.
Income tax planning refers to analyzing your business practices to get rid of or reducing taxes. Whether you are a business owner or individual, you have several techniques in which to conduct business; income tax planning and tax accounting procedures, demonstrate a method that produces the lowest tax liability, legally.
There are many income tax planning strategies that are made available at J.M. Trippon & Company CPAs. Here is a brief and limited list of the available income tax planning strategies that have saved our clients millions of dollars over our 25 years in tax accounting:
Reducing your taxable income
Claiming all available income tax credits
Scheduling your Income tax payments
Eliminate costly income tax planning errors
The one way to manage your income tax planning is to have your income tax accounting supervised by a certified public accountant. Amendments, tax laws and explanation of the tax code could be published in a book that would have over 42,000 pages. The depth of the tax code and it penalties accessed are not worth the risk to attempt to manage your tax accounting yourself.
Income tax planning is the primary specialty of J.M. Trippon & Company CPA’s. Our tax accounting experts mitigate tax liability and offer counsel to corporations and families with high net worth to reduce their income tax liability each year. Income Tax Planning recommendations are made to increase a company’s assets and protect the net worth of and individuals portfolio.
Although you cannot lower your income tax bracket or your income tax rate, J.M. Trippon & Company CPA’s can assist you in taking advantage of certain tax deductions. The appropriate income tax planning to reduce your income tax liability, it will also increase your net worth. Take the stress out of Uncle Sam’s yearly house call with hiring J.M. Trippon & Company CPA’s to save you money on your taxes this year and for years to come.
To schedule an appointment for a tax evaluation please call one of our tax accounting specialists at 713-661-1040.