No Stress Accounting & Tax Services
| Phone | 916-597-0829 |
| Address | No Stress Accounting and Tax Services, 2628 El Camino Ave, B-2, Sacramento, CA, 95821 |
| office@nostress.biz |
Tax Planning
We work with a lot of clients and we understand how income and expenses are generated. We realize what affords people should make and what actions to take in order to legally pay less taxes.
I determine two main aspects of tax planning and tax optimization:\
- - future planning;
- - optimization of taxes for the past period.
Future planning
First of all, you need to define what you do, how you do it, and for what you do something. And give an answer to a couple of questions:
1) What is your source of income and if you can change it? You could have your income with a W-2 or 1099 form, and with each payment form, you can see what can be more profitable for you and what form you pay less taxes with.
Also if you have a corporation, you receive dividends with form K-1, then you can see how much you receive with dividends, with the W-2 form or 1099 form.
2) What business expenses you can deduct? Depending on your business form - small business or corporation - some expenses can be deductible another one - no.
We are here to help you to determine what expenses are deductible in your case.
3) What allocation reduces your tax base? For instance, you could have a Health saving account plan and it allows you to reduce your tax base. So you can use this money in the future with less taxes or even without any taxes at all.
4) What investments help to reduce the tax base and have more income or additional passive income?
Optimization of taxes for the past period
There is always a way to do something better. To improve your future tax return we need to analyze your previous one.
My team and I will help you to find and reveal what expenses we could classify as your business expenses so they could be legally deducted and reduce your tax.