The Tax Cuts and Jobs Act that was signed in December 2017 lowered ordinary tax rates, reduced deductions and significantly increased the estate and gift tax exemption. New tax laws always require fresh, new thinking. With a little planning, the following strategies could take the sting out of your tax bill next year and for generations to come. As always, we’re here to help find opportunities.

We understand that dealing with the IRS/State can be a very time consuming and stressful experience, especially if you’re negotiating an IRS payment plan. Our goal is not only to attempt to achieve tax debt relief and tax debt settlement at the lowest amount allowed by law, or a payment schedule that least disrupts your economic life, but also to reduce your anxiety and stress by having Tax Defense Partners deal and speak directly with the federal and state income tax agencies. We communicate with them professionally, so you don’t have to.

Once QuickBooks is set up and working properly, we can train you or your employees to properly operate QuickBooks specifically for your business.

Whether it’s real property (business or personal), business equipment, or luxury items such as boats and airplanes, we can help you evaluate acquisitions and disposition opportunities.

We can analyze the sales, luxury and income tax impacts associated with these transactions to help you make the right decision. We can also help you analyze purchase vs. lease opportunities, as well as installment sale options.

One of the most important decisions entrepreneurs face is selecting what type of entity should be utilized for their new business venture. A business entity is created for an organization’s tax and legal purposes. Whether you choose to be a Corporation, an S-Corporation, a Partnership, a Limited Liability Company or a Sole Proprietorship, your choice will have tax and business implications. All too often business owners set themselves up in business and don’t fully understand the implications of this selection until they begin facing challenges. There are subtle nuances between entities, and in some cases, a company may be able to take advantage of more than one business structure. That’s why it can be extremely advantageous to hire a business structure consultant for advice before you decide how to set up your business.