When to Upgrade to an Advanced Accountant
It’s common to find yourself and your business facing more complicated taxes as you grow or purchase a business, open it to investors or change your business model. Chances are you have not had time to do your own returns for some time, and if you are acquiring rental properties or other assets, it’s time to invest in a Tax Strategist—it could be the smartest investment you ever make.
A good tax strategist can legally save you far more on taxes than the cost of his or her services through long term planning and introducing you to methods you are not even aware of. This might include:
- How your investments are taxed,
- The best tax situation for buying or selling your home
- Is it time to become an LLC
- Tax structures for different types of partnerships
- Local and state tax opportunities
- Green energy incentives
It’s important to note that not all tax advisors offer all tax-related services and you should find the practice that best suits your needs. As your business grows, it’s also important to connect with someone who works with you year-round. Don’t be afraid to ask a prospective tax strategist or adviser to outline a complete menu of their services. As in business, due diligence is imperative.