Are you wondering how proposed tax changes affect your business strategy going forward? There are many proposals swirling around Washington these days, and while it is impossible to determine at this point where things will end one thing is certain: your business will need to have a new strategy to maximize profitability while minimizing your tax exposure going forward. The conversation includes changes to base corporate tax rates, the taxation of pass-through entities and even the deduction limits for 401(k) contributions. How will these proposed changes affect your business strategy going forward?
Substantial change is in the wind, both nationally and here in the State of California. The national tax discussion includes the elimination of the state tax or sales tax deduction, which impacts more than 40% of local filers. A recent proposal in the California legislature proposed the elimination of California’s water’s edge election. While the bill is presently “parked” it demonstrates the strong desire of state legislatures to increase tax revenue from those who are located or do business within the State of California.
Allen Barron provides integrated business, tax, accounting and legal services for individuals and businesses here in San Diego, across California and the Southwestern US. The nature of our integrated services allows us to approach these challenges from a much broader and deeper perspective. Tax issues are only one piece of the puzzle. Will changes affect the structure of your business entity or the entities within an affiliated group of companies? How do your accounting systems affect your ability to minimize tax exposure? Perhaps more importantly, how can your accounting systems deflect attempts by California tax agencies to allocate taxes you don’t even owe?
Allen Barron understands business, from small local entities to regional, national and international business enterprises. If you are seeking informed, expert insight and counsel in these turbulent business times we invite you to contact us or call 866-631-3470 for a free consultation. Are you concerned how proposed tax changes affect your business strategy and confused about the most profitable path into the future? Take advantage of the economies of scale afforded by consolidating the services presently provided by several separate individuals. Learn how Allen Barron’s integrated approach not only reduces costs but provides more complete and accurate answers in an ever-changing global business climate.