There are many different ways to help reduce taxes on your small business. A customized retirement plan for your particular situation is a great place to start. Deferred Compensation along with some alternative investments may also be tax effective, depending on your situation. Your company health plan could offer some additional tax reduction strategies depending on the structure. If you are ready to sell or pass your small business to a family member it is essential to explore tax effective and efficient methods for your situation. Otherwise, major gift taxes can be unnecessarily paid in the transfer without employing the appropriate methods. This is an area we can potentially help you achieve greater retention of company cash which can help in your retirement. You've put your all your efforts in building your business, you deserve to have customized strategies to enhance or transfer/sell it.
*Please consult your tax or legal professional regarding your individual situation.
