The Profit Management SolutionsTax Difference
When it comes to tax savings for your business, can you really be sure your accountant is doing the most for you? We have found over the years that the answer tends to be "No" more times than not. In fact, Profit Management Solutions is so confident we will help your business save money on your taxes, we guarantee at least a $5000 savings or the business assessment is absolutely free!
CPA/Accountant -vs- Tax Attorney
Know the difference
There is a real good chance your business utilizes a CPA/Accountant and that is fine, but you are missing out on tax savings you could be taking advantage of by having a tax attorney look at your business. If you are using a CPA/Accountant, don't feel bad, you are not alone. It is likely that your accountant has been handling your businesses taxes and you have just trusted in his/her judgement to do what is best for your business, without giving it much thought about additional tax savings.
It is time to start giving your business taxes some thought and make sure you have a good understanding of the differences between a CPA/Accountant and a tax attorney.
CPA/Accountants: Their focus is primarily on post tax transactions (accounting for the ongoing financial data) and, tax compliance (consists primarily of quarterly and annual tax reporting) for the business as well as the business owner/partners.
Tax Attorney: Their focus is on initiating legal pre-tax strategies obtained via the IRS Tax Law Code. (The Tax Law Code is the single most effective tool to drastically reduce tax liability.) Their specific purpose is to create the most effective tax plans to allow the business to legally implement these strategies throughout the year to minimize the business and the business owner/partners' federal income tax liability(ies). For our clients this means an average federal income tax reduction of 33% to 37% in comparison to what can be legally utilized when waiting until the year is over to try and create deductions. (At that point only a limited number of deductions are available as most must be implemented during the actual tax year to meet the tax code specifications.)
The Simple Analogy
Comparing a CPA and a tax attorney is very similar to the comparison of a family physician vs. an orthopedic surgeon. For instance, just because the surgeon performs the knee operation you need, it doesn't mean that your family doctor isn't absolutely crucial. They work in different capacities to best support your ongoing medical health/needs. Profit Management Solutions work closely with your accountant NOT independent of them.