Why California Tax Planner?
The way we run our practice is rooted in tax planning. Our philosophy is to find ways to legally reduce tax liabilities and keep more of what our clients earn in their own pockets. Each new client, corporate and personal, is given a tax analysis in which we review prior tax returns as well as current financials in order to identity missed opportunities and prior mistakes which resulted in unnecessary tax expenditures. From there, we implement a personalized plan to save the client thousands.
Our clients include, but are not limited to Entertainment Industry, Manufacturing and Professional Service Businesses, Doctors, Dentists, Adult Day Care and Home Care Centers.
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10 Most Expensive Tax Mistakes
Services for Businesses
Succession Planning
We all know that family businesses are the backbone of the American economy. About 90 percent of all businesses in US are either family-owned or family-controlled. Family businesses generate an estimated one-half of the U.S. Gross National Product and pay half of all wages earned in this country.
It takes lot of time, effort, expertise and expense to build your own business. What we do not always consider is what can happen to that business in the event that the owner divorces his/her spouse, get a serious illness or even dies.
We can help you with these key issues:
- Keeping it in the family. If you need to make a decision whether or not to pass the business on to your family or sell it to a third party-we will help you to weigh the advantages and disadvantages of each of these choices.
- Who’s going to run the business when you’re gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they’re actively involved in the business or not.
- Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
- Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.