Tax Planning

Tax planning is the process of examining a person’s: life, business, regulatory requirements, and financial goals to create a personalized strategy to legally reduce taxes before year end. Our personalized tax plans ensure you’re paying your fair share of taxes, but also receiving all of the necessary credits, deductions, and incentives that are due to you, your family and your business. 

How Year-Round Tax Planning Can Benefit Small Business Owners:

Proactively Reduce your Tax Bill

Small business owners have the unique advantage of having many tax planning strategies available to them, that wage earning employees (W-2) do not. These strategies can be implemented throughout the year to proactively reduce your tax bill BEFORE the year ends. 

Save for Retirement, Education, and Health Expenses

There are a whole host of ways to save for retirement, education, or health expenses, many of which have significant tax benefits. Not only will these lower your tax bill, but you’ll be setting yourself up for a sound financial future. 

Estate Planning

Depending on your age, there are a variety of tax strategies to help you with estate planning. Laws surrounding estate planning change from time to time so it’s important to work with a tax professional who is well versed in this area.

Tax Credits and Incentives

Every year the state and federal tax authorities release new tax credits and incentives designed to help small businesses prosper and keep the economy thriving. We can help you and your business qualify and apply for credits such as the Employee Retention Credit, Research & Development, Restaurant Revitalization, PPP, EIDL, and more. 

Business Consulting

Tax planning also involves structuring your business to optimize the benefits that come with filing as a business entity. We understand that there’s no “one size fits all” solution to setting up a business, so we’re happy to consult with new business owners to determine the best routes for them to take when setting up their business. 

Let Us Help With Tax Planning and Business Consulting

If you’re unsure whether your current tax planning efforts are sufficient, feel free to give the team at Havig Tax & Consulting a call today. We’ll sit down with you to discuss aggressive tax planning strategies that should help you in the years ahead. We can be reached by phone today at (763) 325-4400. We look forward to speaking with you soon.