CPAs Can Brush Up on Tax Strategies for Small Business Owners | AccountingWEB

CPAs Can Brush Up on Tax Strategies for Small Business Owners

In today's accounting marketplace, more and more CPAs and other professionals are getting further and further away from taxation and advise strategies for the small business owner.

Some end-of-year tax planning will indeed help any situation, be it that of the CPA or a client. For example, by gathering together last year's tax statement, along with a projection of 1999, you can adequately take a look at where you may or may not be headed regarding the 1999 tax bill.

Some strategies for small business boil down to the calendar itself, such as sending out invoices after Jan. 1 so that the business will not incur the income during 1999. On the other hand, owners also can make payments prior to the end of the year to realize the full advantages.

If you are not a tax professional and haven't taken Accounting 101 since college, then check with your own tax professional to ensure you are covered. It's never too late!

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