Hopefully the above ideas have given you food for thought to discuss with your tax professional (if he or she hasn’t already brought them up with you). As you can see, many of these concepts are complex, somewhat illogical riddles that most of us should not cloud our brains with. (if we took the time to try to understand them, we’d be neglecting our own businesses.)
Tax pros can turn our lemons into lemonade -- maybe not this year, but they’ve got the ingredients ready when the time is right -- they can turn a nasty loss into a tax-savings tool. And wave their accounting wands to produce all sorts of other miracles. So trust them to help you and your business.
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