COGENT ANALYTICS’ TAX PREPARATION FOR BUSINESS
Our Business Tax Services Provide an Effective Approach Toward True Cost Recovery.
An effective tax strategy minimizes what you are paying and can help improve cash flow, gain competitive advantage, and increase profitability. All businesses benefit from tax planning at both state and federal levels. A partnership with Cogent Analytics ensures your tax preparation is set up in the right way and that you are reporting accurately in order to minimize your tax liability.
Based on your business strategy, a more detailed and in-depth tax analysis may be beneficial to help achieve your goal of wealth preservation. Your Cogent tax preparer works closely with a certified public accountant to perform an advanced level of analysis and provide a strategic path forward with initiatives that can be implemented in your business.
Don’t wait until tax season to begin tax planning.
Contact Cogent Analytics today to take full advantage of our tax preparation service.
There are Seven Key Components to Our Small Business Tax Services that Allow You to Increase Cash Flow, Build Wealth, and Protect Your Assets.
Exit Planning
the one definite in your exit from the business is that the internal revenue service will consider it a taxable event.
The sum that you make from the exit, sale, or dissolution of your business will be greatly determined by the proactive exit strategies you utilize. Your tax liability and tax return will also be affected by these choices. Your Cogent tax pro will make sure that your business tax preparation is aligned with your exit goals to minimize your tax payments and maximize your tax savings.
Retirement Planning
is your business building the kind of wealth and security that you want for your family?
As a business owner, it is easy to quickly max out your “employee” retirement plan. You must capitalize on specific business owner tax benefits to ensure that you are set up for quality of life in retirement. Our tax preparation service includes careful analysis of your income as well as each tax credit and tax deduction available to you. If you are not currently working with a tax professional, it is likely that you as a business owner are paying too much in income tax. Your Cogent tax team works diligently to make sure you are receiving each tax credit available to you.
One goal of Cogent’s tax preparation business is to help you make wise investment choices as early as possible for the health of your small business and your own retirement fund. Reinvesting profits and using tax-optimized approaches to increase profitability and reduce risks is a key part of investing for your personal retirement. Further, the IRS offers a specific small business tax deduction for your retirement plan. With our years of tax prep experience using the most advanced tax preparation software, working with a Cogent tax professional guarantees will meeting your retirement goals.
Equity Valuation
are you looking at options of succession or exit strategies for your business? do you wish to sell or pass on your business?
An accurate, independent business valuation or appraisal is critical when creating succession and exit strategies. Though you may believe you know the value of your small business after years of owning and operating it, a professional appraiser is able to quantify the intangible aspects of your company’s worth. These items include your client lists, procedures, patents you may hold, and the value of your workforce. When you are ready to sell or pass on your small business, ensure you are getting the highest possible return on your investment by partnering with Cogent Analytics to conduct an accurate business valuation.
Estate Planning
when was the last time your estate plan was thoroughly reviewed and coordinated with your specific goals and objectives?
To be beneficial, estate plans must coordinate your business tax plan, asset protection plan, and business exit plan. Estate and trust planning is one of the most complex and confusing areas for most business owners. Any flaw or lack of coordination in your estate plan may result in nearly a 50% reduction in your after-tax, accumulated wealth, which in turn greatly impacts your generational legacy. Your Cogent professional tax preparer is well-versed in advanced estate planning that aligns both with your business plan as well as with tax law. For example, estate taxes can be eliminated by gifting assets into an irrevocable trust for future beneficiaries or charitable organizations.
Asset Protection
are your business and personal assets unnecessarily exposed and therefore making you and your business attractive targets to litigation?
A well-designed strategic tax plan incorporates a well-designed asset protection plan. Establishing the proper entity structure and solidifying the compliance with corporate formalities will ensure your personal and business assets are protected from judgment creditors. Faulty asset protection planning may result in the demise of the business as well as the depletion of the lifelong accumulation of personal wealth. On the other hand, proactive tax planning and asset protection planning protects your business and your personal interests in a crisis.
Entity Structuring
when was the last time your entity structure was reviewed from a business, tax, and legal perspective and revised accordingly?
As sole proprietor of your business, you have the opportunity to choose from a variety of different legal structures. The legal entity structure you choose determines what planning opportunities are available for you. These planning opportunities include the areas of business and personal asset protection, tax savings and cash flow, compensation opportunities, employee retention, succession and business exit strategies, and business owner benefits. Choosing the right legal entity structure gives you the ability to build your personal wealth.
Tax Savings
what strategies have you considered and implemented to ensure your business and personal taxes are at your fair share, legal minimum?
A strategic plan that is coordinated with your optimal legal entity structure ensures that you are paying only the required amount of business taxes at all levels. This in turn results in increased business and personal cash flow. Your Cogent tax pro specializes in accounting services and small business taxes to garner the highest possible tax savings. Your tax return preparation includes careful completion of every necessary tax form for the tax year. We comb through each deduction and expense to ensure the greatest tax savings. As a small business owner, you can rest assured that a partnership with Cogent Analytics will significantly lower your estimated tax payments.
