As a business owner, you realize taxes are important to understand, but difficult to grasp.
Of course, you've seen the recent headlines regarding the tax planning done by companies like General Electric.
General Electric's tax department literally invented the tax arbitrage strategies that most major corporations use today and consider commonplace. Perhaps most noteworthy at the moment is GE's use of out of country subsidiaries and branches to defer taxation indefinitely. Well... at least until Congress gives in to demands for another "one time" repatriation allowance.
G.E. is not alone, Exxon/Mobil, Citigroup and Boeing also didn't pay any taxes for 2010. In fact many of them received tax credits to the tune of billions of dollars. This is in spite of having profitable domestic operations.
So, as a small business owner, your interest should be on legal business tax savings strategies which usually fall into one (or more) of four types:
The questions you must ask yourself as a small business owner:
Remember: Failing to plan is planning to fail.
Let us develop a powerful Strategic Business Tax Plan that drives your business to the level of success you deserve. Request a Free Consultation.
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