Between death and taxes, I’m less scared of death.
Financial Planning
1Why pay more taxes than necessary and lower your buying power?
A CPA will explain “Sunk” cost is a retrospective (past) cost that has already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with “Prospective Costs”, which are future costs that may be incurred or changed if an action is taken. Both retrospective and prospective costs may be either “Fixed” (continuous for as long as the business is in operation and unaffected by output volume) or “Variable” (dependent on volume) costs.
As your CPA I would advise you to shift as many expenses to a “Variable” model versus a “Fixed”. When comparing an identical product or service, a vendor will try to persuade you to enter into a commitment (Fixed Cost) versus buy as needed (Variable Cost) because the fixed cost price is cheaper.
Given today’s uncertain economic conditions, the last thing you need is a “Fixed Commitment” which can bankrupt you.
Essential Tax Planning
2 As FJ Raymond a famous humorist once said, “Next to being shot at and missed, nothing is really quite as satisfying as an income tax refund.” We will be save you money on your taxes, guiding you through the complicated Federal and State Tax Statutes. “Where there is an income tax, the just man will pay more and the unjust less on the same amount of income.” — Plato.
You are not alone when it comes to the complexity of taxes; “The hardest thing in the world to understand is the Income Tax.” — Albert Einstein, physicist. Albert Einstein, inventor of the nuclear bomb, feared taxes and the government’s zeal on assessing them. “The power of taxing people and their property is essential to the very existence of government.” — James Madison, U.S. President.
Paying taxes is inevitable; the real question is how much should you pay? Arthur Godfrey a famous entertainer said it best “I am proud to be paying taxes in the United States. The only thing is – I could be just as proud for half the money.” Senator Russell B Long once said, “A tax loophole is “something that benefits the other guy. If it benefits you, it is tax reform.”
Tax loopholes are our business! Lets us help you find yours.
Audit Risk
3“What would happen to your company if, God forbid, it’s audited prematurely before your books are in good shape? Or you start to comply with tax laws you’ve been playing Russian Roulette with? Frankly no matter when you get audited, you will consider it “premature”. Will Rogers once said; “Income tax has made more liars out of the American people than golf.” Keep your hard earned dollars mitigating audit risk by hiring our Miami CPA Firm.
The IRS’s Taxpayer Bill of Rights and Non-Retaliation Policy purpose is to protect taxpayers. Then why does the IRS lie to you about your rights and retaliate against certain taxpayers? For example, did you know most penalties could be waived; yet the IRS still sends you the penalty anyways hoping you don’t know your rights and pay up? They even have a Penalty Handbook, and to receive the waiver all you have to do is ask. The most popular and unknown reason to have your penalty waived is referred to as First Time Abatement (FTA). And the title is misleading, its not just the “First Time” your penalized, you get one every three years.
So why does the IRS play these games? Congress and Federal Courts are investigating the IRS scandal involving Lois Lerner targeting certain taxpayers. Are you in an industry or business, which the IRS targets? The answers will surprise you.
Protect your interest; hire a very good Certified Public Accountant and a Tax Attorney if your tax troubles border on criminal offenses, which can lead to jail time.
Risk Mitigation
4Identification, assessment, and prioritization of risks followed by coordinated and financial application of resources to minimize, monitor, and control the probability and or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, threats from business strategies, cost containment, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause.
A good accountants strategies to manage threats (uncertainties with negative consequences) typically include transferring the threat to another party, avoiding the threat, reducing the negative effect or probability of the threat. Are you willing to run greater risk with an unskilled CPA with no Business Acumen or Executive Thinking experience? Are willing to run greater risks to avoid losses than they you are to make gains?
As a CPA with 20+ years of “Fortune 100” experience I am trained to focus on making $100, not saving $1. It’s a “Forward Thinking” winner’s state of mind.
Value Added Services Offered:
- End-to-End Business Consulting
- Perfunctory & Compliance Services
- Top Line (Revenue)
- Bottom Line (Net Profit)
- COGS & Operating Expense: GAP Analysis
- Trend Analysis: Key Performance Indicators (KPI)
- Financial Modeling
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