As we’ve hammered repeatedly, any small business owner, no matter how small or new your business, needs to start an on-going long-term relationship with a tax professional -- the sooner the better. If you want to achieve maximum tax savings, you need a pro’s experience with tax rulings -- and even more, with how the IRS has judged various cases in the past.
This pro will look at your total family income and expense picture before preparing your tax returns. He or she will see what deductions you can take to legitimately reduce your overall tax bill. He may recategorize some items, rename some, regroup others. She knows how to look at the your data with fresh eyes, and can spot things you never noticed. Their scrutiny will catch any glaring mistakes you made, so they can be fixed before you file with the IRS.
In this tax savings and your tax professional subsection:
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