We all have heard of spring cleaning but I want to encourage you to take a little time this fall to do some fall planning that could make a big difference for your 2016 taxes. A quick check in with your CPA can make sure you are taking advantage of all opportunities to minimize your tax bill. You may want to fine tune charitable contribution planning, retirement investment or other business investments that could positively impact your 2016 tax return AND your company or organization’s bottom line this year. Our team is constantly reviewing tax code and opportunities to make sure you can take maximum allowable expenses. Is some instances there are additional write offs available after you hit your maximum. There are also opportunities around health benefits and office equipment. Taking time now to review your expenses to date around business travel, Bank, ATM, credit card fees, professional development, books, workshops, conferences, association memberships will save time and hopefully money during tax season.
Our office is always ready to meet with you and review your current financials to help forecast for next year’s tax return, it’s one of the benefits of having a CPA as your business partner.
As a real estate agent you are busy wearing a multitude of hats, from home and neighborhood expert, to chief marketing officer, market analyst and therapist. You cannot expect to know the ins and outs of tax codes and deductions and other tax related obligations. As an entrepreneur you want to be able to manage your finances efficiently, retaining as much profit as possible. You may not have thought of a CPA as one of your best financial partners but a CPA can offer insight to your business structure, help provide protection from financial and tax obligations. In some cases CPA’s can even help you manage your own real estate investments.
Investing in a CPA is one of the best business decisions you can make. It will relieve you of unnecessary stress and worry. They can partner with you as a business manager helping you manage payroll and your tax obligations.
You should spend some time to interview CPA’s to find the best match for you and your business. Be ready with a handful of questions:
- What type of accounting do you specialize in? Who are some of your current clients? How long have your clients stayed with you?
- Do you offer tax preparation?
- How often are you available to meet or talk with me? How can I best reach you?
- Can you assist in various phases of real estate investment, acquisition or sale of property?
- What advice do you have for my business bookkeeping?
- What is your fee structure?