Tax Planning Houston
Strategic and Proactive Tax Planning
Best Tax Planners in Houston
Learn how to Lower Your Tax Bill
Why Tax Plan?
It’s an unfortunate fact that taxes are one of the largest expenses for small businesses. That’s why mitigating your tax burden should be a core goal of your business.
The money that you will save will be worth the initial investment of your time because an effective tax plan noticeably reduce your taxes. This means you can invest more of your hard-earned money back into your business.
How Do We Help?
We’re not like your traditional accounting firm that only prepares your tax return at the end of the year. We work with you throughout the year to offer strategies that will maximize your after-tax income.
We sit down with each client to gain a complete understanding of their business before providing a tax strategy. Also, we make it a priority to keep in contact with our clients throughout the year so we can ensure your tax savings are maximized.
Tax Strategies We Will Implement for You
Convert Your LLC to an S-Corp
This is the biggest tax saving for many of our clients. As an S-Corp you will save on taxes by not paying the 15.3% self-employment tax on a portion of your income.
Check out our article on S-Corps to learn more.
Minimize Your Payroll Withholdings
Don’t give the IRS an interest-free loan!
Although you will get this money back at the end of the year, your company will benefit from the increased cash-flow by paying the minimum amount each period.
Deferring tax Liabilities
An essential component of good tax planning is deferring your tax liabilities to a later period. This is best done through pension plans and other tax-sheltered investments.
We will set up a tax-deferred IRA for you and your employees to lower your taxes each year. Additionally we will provide you with a variety of tax-sheltered investments such as municipal bonds, like-kind exchanges and opportunity zone funds.
Accelerate Your Depreciation
A dollar today is worth more than a dollar next year.
We will pour over your books to find any assets that we can fully depreciate right away instead of waiting the typical 5 or 10 years.
Maximize Your Deductions
We will look for everyday expenses that we can fully or partially deduct through your business so we can lower your taxes. This includes things like:
- Home Office Deduction
- Vehicle Deduction
- Vacation Expenses
- Utilities
- Meals and Entertainment
Shifting Income and Expenses
Within the law, we will shift your income, losses, and expenses to different periods so that you may have the lowest tax liability.
This includes deferring income so we can recognize a loss that we can carry forward to future periods.
Tax Planning for Small Businesses
At Windstone Financial, we are a team of highly experienced CPAs and accountants that know the tax code like the back of our hand.
We go beyond tax compliance. We understand that tax planning is the key to successfully and legally lowering your tax liability.
