Then I research possible tax alternatives for the proposed transaction and present the alternatives with tax consequences to my client. In this way, both my office and my client know the tax consequences and there is no surprise at a later date. For business owners, tax planning also includes selecting the business entity in which to operate. Selecting the right entity is important and planning is the key for selecting the right entity. Recently I suggested a change in the operating entity for a new client and that change will save that client thousands of dollars every year.
Retirement plans are excellent tax planning tools.
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