TAX PLANNING FOR SMALL BUSINESSES

Using the proper tax planning strategies is essential for a small business. In order to increase the amount of money you retain after paying taxes, Pulse Financial Services is here to help you plan out how to handle tax reporting and management far in advance. Here are a few objectives and tax planning strategies that Pulse can implement:

OBJECTIVES FOR PULSE FINANCIAL SERVICES
– Identify the federal state, and local tax reporting requirements for you and your business
– Identify methods for researching the local, municipal, and county reporting/licensing requirements for your business.
– Establish a plan to account and pay the taxes.

WE CAN HELP YOU UTILIZE EXPENSES
A good tax planning strategy will make full use of offsetting income with expenses. Pulse will help you with:
– Discussing how much money your company will bring in at the beginning of the year. With this information, we can effectively come up with a plan to maximize your expenses in the beginning of the year. If you know that you are going to make a certain amount of money, you should be able to spend enough on legitimate business expenses to offset much of the revenue.
– This plan can be adjusted to reflect your actual level of revenue. For example if after three months, you have made significantly less than you projected, you do not want to keep spending at the same rate. Pulse will help you frequently adjust your budget in order to maximize the benefits for your company.

WE CAN CALCULATE HOW MUCH RETIREMENT CONTRIBUTIONS YOU CAN MAKE IN ORDER TO GET THE MAXIMUM AMOUNT OF TAX DEDUCTIONS
Business owners can deduct the full amount of the contributions that were made into employee retirement accounts from their taxable income. If you have substantial profit and you are close to the end of the year, consider maximizing your contribution to each employee’s account. Pulse Financial Group will help you ensure that you adhere to the federal contribution limits.

WE KNOW ABOUT AVAILABLE TAX CREDITS/DEDUCTIONS
Small businesses can also take advantage of several federal programs that encourage green projects. By implementing eco-friendly measures in your business, you may be able to get tax credits as a result. You may perform activities that qualify your business for the Research and Development tax credit and the new Qualified Business Income (QBI) deduction is something all sole proprietorships, partnerships, S corporations, trusts and estates have available to them.  At Pulse we implement strategies to help maximize that deduction.

RE-CONSIDER YOUR INVESTMENTS
You may want to consider looking at your portfolio before the year’s end. If you have any investments that you could sell, this can help offset any gains that you have on the books for the year. Pulse will keep capital gains in mind when helping you reflect on which investments may be causing you to lose funds.

Securities offered through First Allied Securities, Inc. Member FINRA/SIPC. Advisory services offered through First Allied Advisory Services Inc., a registered investment adviser.

This site is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security which may be referenced herein. We suggest that you consult with your financial or tax advisor with regard to your individual situation.
This site has been published in the United States for resident of the United States. Persons mentioned in this site may only transact business in states in which they have been properly registered or are exempt from registration.

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