Starting a new business is an exciting, but busy time with so much to be done and so little time to do it. Also, if you expect to have employees, there are a variety of federal and state forms and applications that will need to be completed to get your business up and running. That's where a tax professional can help.
As a business owner, you are entitled to deduct certain expenses on your tax return such as those relating to entertaining clients. Entertainment is considered any activity that provides entertainment, amusement, or recreation.
Whether you're starting a new company, seeking additional financing for an existing one, or analyzing a new market, a business plan is a valuable tool.
Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability.