Tax Planning

A good tax plan is crucial to the success of any small business and as a business owner, you should be aware of this. It can mean the difference between keeping what you earn and paying much of it in the form of taxes. This is the very reason you need the services of REH CPA’s real tax experts in such cases.

Why choose REH CPA for your tax planning

Industry Expertise

Specialized Knowledge in Construction and Other Sectors: We specialize in industries like construction, which have complex tax regulations. Our deep understanding of industry-specific tax laws allows us to craft tax strategies that are tailored to your business’s needs, ensuring compliance while optimizing your financial outcomes.
Up-to-Date with Tax Laws: Tax laws are constantly changing, and staying updated is critical. Our team is always informed about the latest federal, state, and local tax regulations, so you can rest assured that we’ll guide you in the right direction, keeping your business compliant and in good standing.

Personalized Tax Strategies

Tailored Plans for Your Business: No two businesses are the same, and that’s why we don’t offer one-size-fits-all solutions. We take the time to understand your business goals, structure, and challenges before recommending a tax strategy. Whether you’re a small business or a growing company, we’ll create a plan that aligns with your specific objectives.
Proactive Planning: We don’t just react to tax situations—we anticipate them. Our proactive approach means we’ll help you plan for tax implications throughout the year, not just during tax season. From capital investments to growth strategies, we ensure that tax considerations are built into your financial decisions.

Maximized Tax Savings

Minimizing Liabilities, Maximizing Deductions: We focus on identifying all available tax-saving opportunities—from deductions and credits to strategic tax deferrals. Our goal is to help you keep more of what you earn by finding areas where you can save and plan more efficiently.
Tax-Efficient Business Structure: If you’re unsure about the best structure for your business (LLC, S-Corp, C-Corp, etc.), we can guide you toward the most tax-efficient option based on your specific needs.

Comprehensive Services

Full-Spectrum Tax Services: Our tax planning services go beyond just preparing your tax return. We offer a complete range of tax services, including business tax planning, individual tax planning, estate planning, tax compliance, and audit representation. Whatever your needs, we have the expertise to handle them.
International Tax Planning: If your business operates internationally, we can help with cross-border tax issues, ensuring you comply with international tax laws while optimizing your global tax position.

Customized Solutions for Complex Situations

Handling Complex Tax Issues: Whether it’s multi-state taxation, sales tax compliance, or issues unique to the construction industry, we have the experience to tackle complex tax challenges. Our experts have the knowledge to handle your unique tax situation with precision and efficiency.
Tax Planning for Growth: As your business grows, so do your tax complexities. We assist with long-term planning to help you manage the tax implications of mergers, acquisitions, new projects, and other significant milestones.

Client-Focused Approach

Clear Communication: We believe in making the complicated world of tax planning clear and understandable. Our team takes the time to explain your options in simple terms so you can make informed decisions.
Responsive and Available: We pride ourselves on providing exceptional customer service. Our team is always available to answer your questions, address concerns, and provide guidance whenever you need it.

Proven Track Record

Experienced Professionals: With years of experience working with businesses in various industries, including construction, we have a proven track record of helping clients achieve significant tax savings.
Client Success Stories: Our clients trust us to help them navigate their financial and tax challenges. We’ve helped businesses of all sizes optimize their tax strategies and position themselves for growth.

Confidentiality and Trust

Secure, Confidential Service: We take the confidentiality of your financial information seriously. You can trust that your sensitive data is protected with the highest level of security.
Building Long-Term Relationships: Our goal is to build long-lasting relationships with our clients. We aim to be your trusted partner for all your tax planning and financial needs, guiding you through the years as your business grows and evolves.

Tax Planning Services

In-Depth Financial Analysis and Tax Review

Review of Current Financial Situation: We begin by assessing your financial position to understand your income, expenses, investments, and liabilities. This gives us a clear picture of your tax situation.
Analysis of Tax Returns: Our team will carefully review your past tax returns to identify potential tax-saving opportunities or areas for improvement. This helps us spot overlooked deductions or credits.

Customized Tax Strategy Development

Personalized Tax Plan: Based on your financial goals and unique circumstances, we create a tailored tax strategy. This includes evaluating your income sources, business structure, and future plans to build a strategy that helps you minimize taxes while growing your wealth.
Strategic Tax Deferrals: We’ll help you identify opportunities to defer income or accelerate deductions to reduce your current-year tax liability, where applicable.

Ongoing Tax Savings Recommendations

Tax-Efficient Investments: Our team will recommend tax-efficient investment strategies, such as tax-advantaged accounts or tax-deferred growth opportunities, to help you build wealth while reducing your tax burden.
Deductions & Credits: We’ll ensure you’re taking full advantage of available tax credits and deductions (e.g., home office deductions, retirement contributions, business expenses, etc.).
Business Expense Optimization: For business clients, we’ll identify ways to maximize deductions related to operational costs, including materials, labor, and overhead expenses.

Tax Planning for Business Structure

Choosing the Right Business Structure: Whether you’re a sole proprietor, LLC, S-Corp, or C-Corp, we’ll evaluate your business structure to ensure it’s optimized for tax purposes. We’ll advise you on the best structure to minimize taxes based on your specific situation.
Multi-Entity Tax Strategy: If you operate multiple businesses or entities, we’ll create a tax strategy that works across all entities, helping you avoid double taxation and ensure efficient allocation of expenses and income.

Retirement & Succession Planning

Retirement Tax Planning: We’ll guide you on tax-efficient retirement planning, such as contributions to IRAs, 401(k)s, or other retirement accounts, ensuring you take advantage of tax breaks while saving for the future.
Succession Planning: For business owners, we provide tax strategies for passing on your business to the next generation or selling it, helping you minimize estate and capital gains taxes.

Tax Implications of Major Life Events

Life Event Planning: Whether you’re getting married, having children, buying a home, or planning for retirement, we’ll assess the tax implications of your life events and recommend actions to optimize your tax situation.
Tax Strategies for Inheritance: We provide advice on minimizing estate taxes and efficiently managing inheritance and wealth transfer, ensuring your legacy is protected.

Tax Compliance and Reporting

Ensure Tax Compliance: We help ensure your tax filings are accurate and on time, avoiding penalties and interest. We’ll also stay up to date on changes to tax laws that may impact your filings.
Quarterly and Annual Reporting: For businesses, we provide quarterly reviews and tax filings to ensure you stay on top of your obligations and avoid surprises at year-end.

Audit Support and Representation

Audit Defense: In the event of an audit, we offer expert support and representation. Our team will help you navigate the audit process, provide necessary documentation, and work with the IRS or state tax authorities on your behalf.
Dispute Resolution: If any issues arise, we’ll advocate for you to resolve disputes efficiently and minimize potential penalties.

Strategic Tax Planning for your Specialized Industry

Industry-Specific Tax Strategies: If you're in the construction, real estate, or other specialized industries, we’ll create a tax plan that’s tailored to your specific needs. This includes strategies for managing cash flow, project billing, subcontractor payments, and more.
Depreciation and Asset Management: We’ll help you maximize depreciation deductions for capital assets like equipment, vehicles, and property, reducing your taxable income.

Regular Reviews and Updates

Ongoing Monitoring: Tax planning isn’t a one-time event. We’ll regularly review and update your tax strategy to reflect any changes in your business, personal life, or tax laws.
Proactive Adjustments: If there are any shifts in tax legislation or your circumstances, we’ll proactively adjust your strategy to make sure you stay on track.

Tax Planning Media

REH CPA Tax Planning FAQ’s

What is tax planning and why is it important?

Tax planning is the process of organizing your finances in a way that minimizes your tax liability while ensuring compliance with all tax laws. It's important because it allows you to take advantage of deductions, credits, and strategies that reduce the amount of taxes you pay, which can save you money and help you build wealth. Proactive tax planning can also prevent surprises during tax season and ensure your financial decisions align with your long-term goals.

How often should I review my tax plan?

We recommend reviewing your tax plan at least annually, but more frequent reviews may be necessary, especially if there are significant life changes (e.g., marriage, home purchase, business expansion). If you’re a business owner, quarterly reviews are also a good idea to keep up with changes in revenue, expenses, and tax laws. Regular reviews ensure your tax strategy stays aligned with your financial goals and any evolving tax regulations.

Do I need tax planning if I’m a small business owner or self-employed?

Yes! Tax planning is essential for small business owners and self-employed individuals, especially since you have more control over your income and expenses. Proper tax planning can help you manage self-employment taxes, track business expenses for deductions, plan for retirement, and avoid penalties. We work with small businesses and self-employed clients to create personalized tax strategies that ensure you’re paying the right amount of tax and optimizing your savings.

How can tax planning help reduce my business’s tax liability?

Tax planning can help reduce your business’s tax liability by identifying all possible deductions, credits, and tax-saving strategies tailored to your business. This might include optimizing your business structure, taking advantage of tax credits for certain investments, accelerating expenses, or deferring income. Our team works with you to ensure that your business is taking full advantage of these opportunities to minimize taxes and boost profitability.

When should I start tax planning for my business?

It’s never too early to start tax planning for your business. In fact, the sooner you start, the better. Ideally, tax planning should be an ongoing process throughout the year, not just at tax time. Starting early allows us to evaluate your business structure, identify potential deductions, and make strategic decisions that can reduce your tax burden. We recommend starting your tax planning at least a few months before your fiscal year-end.