Our tax strategies will help maximize your after-tax income
Companion Financial has a deep understanding and application of expansive federal and state tax codes. We go beyond compliance to recommend strategies that will maximize your after-tax income, so you have more resources to do what matters most - investing in yourself and those closest to you.
Take Advantage of Tax Credits: It's important to take advantage of every tax credit available to lower your income which in turn reduces the amount of tax you owe the IRS.
Maximize your deductions: You may not be aware of the many deductions you’re entitled to, but Companion Financial is, and we’ll maximize your tax deductions to reduce the amount of tax owed.
Set Up a Retirement Account: Contributing to a retirement account is a great way to reduce your taxable income and build your nest egg. Our comprehensive retirement planning services can reduce your tax liability today and help you save for tomorrow.
Consider a tax status change: There are several business structures – Sole Proprietorship, Partnership, Corporation, S Corporation, and Limited Liability Company – and each one has different tax considerations. Companion Financial can determine if your current structure and tax status are the best fit for you.
Defer or accelerate income: Cash accounting is a common way for small businesses to record day-to-day transactions. With this method, income and expenses are recognized when they're received or paid - providing the opportunity for tax planning by way of income deferral if you expect to be in a lower tax bracket next year.
