Tax Planning

How to lower your taxes through proactive tax planning

Are you looking for a way to minimize your taxes? As a proactive strategy planner, Focus Accounting & CPA Firm, Inc can help you with that through proactive tax planning. Simply put, we will devise a plan by leveraging the tax law to lower your tax burden as much as possible.

Information plays a key role in the growth of any organization. If you run your own business or manage investments, you depend on information – information on products, markets, and customers; information to make money and information to keep that money. And, you rely on your accountant for some of your most important information. But what does your accountant actually do with that information?

At tax time, your books tell your accountant how much tax you owe. You scramble for more receipts and more deductions. However, by tax time, it is usually too late to do anything more.

An accountant is one of the main players in any business that he/she works for, whether it is a large corporation or a small business. Most accountants do a fine job of recording history. They compile monthly, quarterly, and annual books and records. At tax time, they put the “right” numbers in the right boxes on the right forms, and file them by the right deadlines. Then they call it a day.

Is that all you really want?

 Here’s How to Beat the IRS. Legally!

The objective of tax planning is to arrange your financial affairs to minimize your taxes. For that, you need concepts and strategies that leave more on your bottom line without raising “red flags” or straying into “gray areas.”

It does not matter how good your current accountant is with a stack of receipts on April 15. If you have not planned right, by April 15, it is just too late.

Have you organized your business right? Do you have the right benefit plans for yourself and your employees? Do you have the right retirement plan to prepare for your future? Are you taking advantage of all the legitimate deductions, credits, loopholes, and strategies the tax code offers?

 

What Would You Do With $15,000?

Richen came to us after he bought a small rental property down the street from his home. He bought the property because he heard it would be a great tax shelter. But he was frustrated because he didn’t see how it was helping him.

After one strategy meeting, we discovered the problem. Due to income limitations in the tax law, Richen could not deduct his rental, and they remained “suspended.” We also found that he had quite a bit of equity built up in his home and rental that was not being used.

We developed a plan for Richen to use tax loopholes to his advantage and deduct those real estate losses against his other income. He also repositioned some of the equity in his home to buy more properties, creating even more deductions. In just one year, we created over $50,000 of tax-free income to Richen and cut his tax bill by over $15,000!

We collaborate with business owners and investors throughout Northern California. We have the experience, and more important, the proactive attitude, to give you more than just a record of your history.

 

2,471% Return on Investment!

Sam was a top executive in a growing distribution business. A few years into the business, he was awarded stock options and eventually the company went public. Sam was an overnight millionaire!

Sam was a whiz at selling his company’s products. But he didn’t understand numbers. He got overwhelmed and nervous when he heard unfamiliar terms and relied on “experts” to make his accounting and financial decisions. That meant using a girl at the local tax franchise to prepare his returns. He had been with her 20 years and assumed she did a good job; she seemed to speak the “tax talk” he had often heard around the office. And she was affordable – what could anyone else possibly do for him? That is when a colleague introduced him to Focus Accounting & CPA Firm, Inc.

Although he drew a sharp breath when he learned the price for the tax strategy, he thought of it as an investment and decided to try it. He was used to waiting 5 years for a return on investments, so he calculated that as long as we saved him at least $700 per year in taxes, he would have his money back in no time.

At his first strategy appointment, his Strategist discovered that Sam’s tax preparer had used the most expensive possible method for exercising his options. That cost him a whopping 44% tax! Luckily, he signed up as a client before he had exercised the bulk of his options. We quickly constructed a plan to stop the bleeding, using the “exercise and hold” strategy to exercise the remaining options when he was not subject to AMT tax. We also created an LLC and sold his primary residence to it to take advantage of the primary residence gain exclusion and turn the property into a rental.

With the increased basis in the rental property, he was able to receive a larger deduction for depreciation expense, creating tax-free income from the property. His wife qualified as a real estate professional, which let him deduct valuable real estate losses against his salary. Our strategy saved him over $80,000 in taxes in the first year and approximately $10,000 each year after that.

Sam’s investment in his tax plan has returned over $124,000 in AFTER TAX cash flow – a return of 2,471%.    Now THAT is a good investment!

 

How We’re Different

I am Jay Dahal and I am a Certified Tax Coach. I started Focus Accounting & CPA Firm, Inc to offer a different kind of service related to tax planning. We give you a proactive plan full of court-tested, IRS-approved strategies for minimizing your taxes. We do not just record the history you give us. We go beyond, to give you proactive advice and strategies to help you earn more and keep more of your earning. We are different because we are a “Certified Tax Coach.”

Other firms often use outdated information as they settle for after-the-fact planning. As a result, sudden nasty surprises spring up on April 15 and there is no possible chance of control. Focus Accounting & CPA Firm, Inc gives you round-the-year coaching and proactive solutions. You enjoy total confidence knowing you will pay the least amount of tax and are probably making the right decisions for your business.

The other firms offer the same old solutions and business as usual year after year. That means you are paying too much tax! Focus Accounting & CPA Firm, Inc gives you customized strategies and flexible planning. As a result, you profit from personalized solutions for your situation that reduce your taxes.

The other guys offer “see you next year” service, with limited contacts except at tax time. (Invoices for phone calls and even emails!) Focus Accounting & CPA Firm, Inc offers continuous support. That means year-round contact, support, direction, and accountability.

What’s the bottom line?

  • We help you set goals and achieve your dreams
  • We highlight areas in which you are strong and those that need improvement
  • We educate you in a language you understand
  • We design and help you implement innovative, customized tax strategies that minimize your taxes and your risk of audit

Personalized Proactive Tax Strategy

The process starts with your personalized Proactive Tax Strategy. Here’s how it works:

1. Brief Interview

You will proceed with a brief interview with a Certified Tax Strategist. We will ask you a few easy questions about your current situation. We want to know where you are now, and where you want to be in the future.

 2. Tax Questionnaire

You will then be given a short Tax Questionnaire where you will tell us your financial, business and investment goals, and where your money currently goes. We will need copies of your past tax return and a little information on each business entity (S Corporation, LLC, Limited Partnership, etc) that you currently have set up. The more information you give us, the better job we will do.
3. Your Intimate Planner

Your personal strategist will review your information and develop a comprehensive Proactive Tax Strategy. This process typically takes two weeks so we can research the best possible options for you. This is the stage where the cool things happen! In fact, the average savings for a taxpayer as a result of their Tax Strategy plan have been found to be over $14,000 per year!

4. Important Tax plan Analysis

You will talk with your personal strategist to review the details of your plan. Typically, this call lasts about an hour. It’s so packed with information, though, that we write up your customized strategy so you won’t miss a thing!

5. Written Action Plan

You will get a written strategy plan, along with information on all available deductions, credits, loopholes, and strategies.

6. Follow-up

About two weeks after the initial phone call, you can have a second follow-up phone call with your strategist to cover the details of the first call again or if you have any new questions regarding your plan.

Once we have developed your plan, you will choose the most appropriate maintenance package for your needs.

Silver Maintenance Package

The Silver Maintenance Package is designed for new business owners and investors who want a strong tax foundation. This package includes the following services:

  1. Business Tax Preparation: Focus Accounting & CPA firm will prepare primary business entity returns such as proprietorship, partnership or corporation. There may be additional charges for additional entities.
  2. Personal Tax Preparation: We will prepare your federal, state, and local personal tax returns.
  3. Phone Consultations: At your convenience, you can schedule three 15-minute phone consultations to address breaking issues and opportunities throughout the year.
  4. Email Consultations: For written responses, you can email up to three specific questions.
  5. Tax Alerts: For making the most of your money, you will get our weekly email alerts and monthly newsletters with timely tips.
  6. Due Date Monitoring: To ensure you never miss an important tax deadline, you will get our Due Date Monitoring service.
  7. Year-End Sit-Down: To review your tax pictures, you will get a year-end “sit down” meeting where we will update you with everything you need to know about deductions you can take, anticipating tax roadblocks and opportunities, avoiding IRS audits, and maintaining your personal tax plan based on your changing personal circumstances.
  8. Open Questions: Finally, your year-end sit-down includes an open Q&A period. This is your chance to ask us any questions about:

–  Personal Financial Planning

–  Retirement Planning

–  Estate Planning

–  Financing

–  Insurance Needs

–  Lease/Buy Analysis

–  Business Valuation

–  Business Structure (C-Corp S-Corp, LLC, Partnership, Sole Proprietorship)

Proactive Tax Strategies will help you minimize your taxes that most accountants missed. You will sleep well knowing we are doing everything to prevent audits. Moreover, you will have access to a trusted business advisor to answer pressing financial questions.

Your investment in the Silver Maintenance Package is just $249/month, billed directly to your credit card. That is less than $9/day for proactive tax planning and preparation that can save you thousands, year after year. If you are serious about minimizing your taxes, then Proactive Tax Strategies play a vital role and that should be an easy decision.

Gold Maintenance Package

The Gold Maintenance Package is designed for growing businesses looking for help with their business books and records. You get the following round-the-year services with this package:

  1. Business Tax Preparation: Focus Accounting & CPA Firm will prepare primary business entity returns such as proprietorship, partnership or corporation. There may be additional charges for additional entities.
  2. Personal Tax Preparation: We will prepare your federal, state, and local personal tax returns.
  3. Phone Consultations: At your convenience, you can schedule three 15-minute phone consultations to address breaking issues and opportunities throughout the year.
  4. Email Consultations: For written responses, you can email up to six specific questions.
  5. Tax Alerts: For making the most of your money, you will get our weekly email alerts and monthly newsletters with timely tips.
  6. Due Date Monitoring: To ensure you never miss an important tax deadline, you will get our Due Date Monitoring service.
  7. Year-End Reconciliation: At the end of the year, we will reconcile your books to make sure they are clean and up-to-date.
  8. Year-End Sit-Down: To review your tax pictures, you will get a year-end “sit down” meeting where we will update you with everything you need to know about deductions you can take, anticipating tax roadblocks and opportunities, avoiding IRS audits, and maintaining your personal tax plan based on your changing personal circumstances.
  9. One-on-one Financial Review: Your year-end sit-down also includes a comprehensive financial statement review. Together, we will walk through your financial statements. We will show you what the numbers mean, and how you can use them to make smarter business decisions.
  10. Open Questions: As with the Silver Package, your year-end sit-down includes an open Q&A period.

 Fall Tax Review: Finally, the Gold Package includes a Fall Tax Review. We will develop a detailed year-end tax projection, along with a detailed tax strategy to minimize your tax liability, and a calculation of estimated tax payments so you don’t get caught short on April 15.

Your investment in the Gold Maintenance Package is just $349/month, billed directly to your credit card. That is less than $12/day for proactive tax planning and preparation plus ongoing accounting and bookkeeping oversight. It is hard to find a decent lunch for that low a price. If you are growing your business, it should be an easy call.

Platinum Maintenance Package

The Platinum Maintenance Package is our most comprehensive service, designed for more mature organizations looking for round-the-year help with business books and records. We provide the following services with this package:

  1. Business Tax Preparation: Focus Accounting & CPA Firm will prepare your business tax returns such as proprietorship, partnership, or corporation. Additional entities may incur additional charges.
  2. Personal Tax Preparation: We will prepare your federal, state, and local personal tax returns.
  3. 6 Phone Consultations: At your convenience, you can schedule up to six 15-minute phone consultations to address breaking issues and opportunities throughout the year.
  4. Unlimited E-mail Consultations: For written responses, you can email an unlimited number of specific questions at your will.
  5. Tax Alerts: For making the most of your money, you will get our weekly email alerts and monthly newsletters with timely tips.
  6. Due Date Monitoring: To ensure you never miss an important tax deadline, you will get our Due Date Monitoring service.
  7. Quarterly Reconciliations: At the end of each quarter, we will reconcile your books to make sure they are clean and up-to-date.
  8. Quarterly Sit-Downs: To review your tax pictures, you will get quarterly “sit down” meetings where we will update you with everything you need to know about deductions you can take, anticipating tax roadblocks and opportunities, avoiding IRS audits, and maintaining your personal tax plan based on your changing personal circumstances.
  9. Quarterly One-on-one Financial Reviews: Your quarterly sit-downs also include comprehensive financial statement reviews. Together, we will walk through your financial statements. We will show you what the numbers mean, and how you can use them to make smarter business decisions.
  10. Open Questions. Your quarterly sit-downs include open Q&A periods.
  11. Quarterly Financial Performance Reviews. Finally, the Platinum Package includes quarterly Financial Performance Reviews. These are plain-English translations of your business financial statements, where we identify your individual strengths and weaknesses. Each review comes with a detailed comparison to your competitors.
  12. Fall Tax Planning Review. We will develop a detailed year-end tax projection, along with a detailed tax strategy to minimize your tax liability, and a calculation of estimated tax payments so you do not get caught short on April 15.

Your investment in the Platinum Maintenance Package is just $499/month, billed directly to your credit card. That is less than $17/day for our most complete suite of services. You pay just more than what you would for parking in downtown SF. If your tax is starting to hurt, this should be your first remedy!

Let’s recap the three maintenance packages to determine which is best for you:

Maintenance Package Comparison
Package Per Tax ID Silver Gold Platinum
Book Keeping Services Annual Reporting Quarterly Reporting Monthly Reporting
One Business Tax Preparation/Filing
One Personal Tax Preparation/Filing
Phone Consultations 2 per month 4 per month 8 per month
Email Consultations 2 per month 4 per Month Unlimited
Tax Alerts
Due Date Monitoring
Year-End Sit-Down
Open Question
Bookkeeping Tune up for tax optimization   Annual Quarterly
One-on-One Financial Review   Annual Quarterly
Estimated Tax Return  
Key Performance Indicator     Quarterly
Quickbook Software Access $35 per month $25 per month
Payroll ADP Software Access $35 per month $25 per month
Dedicated Point of Contact Accounting Staff  
Accounting Staff Mobile Text/SMS Service    
Document Drop off/Pick up Service    

Pricing Varies from Business Annual Revenue $0-$150k, $150k-$250k, $250k-$750k, $750k-1M,1M-3M,3M above and by industry type.

Now, as you have seen how we can help you, take the next step by grabbing the opportunity. Call 415-644-5933 or email at info@focusyourfinance.com to schedule your free analysis. We will identify the mistakes and missed opportunities that may be costing you thousands of dollars per year, then show you how to create a plan to make the  most of them. There will be a separate upfront fee to create a Tax Plan, and an implementation fee.

 

Prices and plans vary depending on your tax situation, so please consult with your CPA or CTC regarding the pricing. Pricing are subject to change. 6-7% fee will be increased annually.