Proactive Tax Planning
Business owners are always looking for ways to increase their profits. Our proactive tax planning services are designed to be an ongoing profit center for our clients. We consult closely with them to analyze their financial and tax situations, evaluate credits and deductions available to them, and develop strategies that maximize their profits legally and ethically. Our proactive planning is tailored to each case, considering both short-term benefits as well as long-term implications. With our help, business owners can ensure that they maximize their savings and minimize the taxes paid each year.
Streamlined Procedures
The United States tax code requires taxpayers to report their worldwide income on their tax returns. US taxpayers are also required to file FBAR (Foreign Bank and Financial Accounts Report) if the person has a financial interest in or signature authority over one or more foreign financial accounts; and (2) The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year. Various additional information returns must be filed if a US person owns foreign businesses and has an interest in mutual funds. Did you do so?
IRS Problem Resolution
Millions of taxpayers receive notice from the IRS and commonly ignore it. However, once the IRS has caught up to you and is demanding payment because you owe back taxes or failed to file a tax return because you owed the IRS money you knew you didn't have, the next step will likely be garnishing your wages, putting a lien on your home, or a levy on your bank account.
Foreign Assets Reporting
Taxpayers use FBAR (Foreign Bank Account Report) to report their financial interests in any foreign account or asset over certain thresholds. This includes but is not limited to bank accounts, securities, mutual funds, trusts, and other relationships with foreign entities. US citizens and residents must comply with IRS regulations to accurately declare all their worldwide income and assets when filing taxes. Failing to file an FBAR could result in substantial fines and criminal penalties, so it's important to understand the rules and be aware of what needs to be reported.
Fractional CFO Services
Hiring a Fractional CFO can be an ideal solution for smaller organizations as it involves significantly lower costs than hiring a full-time CFO. It is an excellent way to benefit from professional financial expertise without an in-house CFO's long-term commitment or high salary demands. A fractional CFO requires no training or onboarding period, allowing them to make immediate contributions with specialized industry knowledge and expertise.
