At Akilah Waldrond CPA PLLC, we partner with you to minimize tax liability and maximize profitability at every stage of your business journey.
Our tax services extend well beyond data collection, preparation and returns filings. From the outset, we work closely with our clients, doing everything in our power to understand their objectives and to devise a plan to help achieve them, with the least amount of risk and tax exposure.
We provide strategic guidance on financial decisions—such as equipment purchases, lease versus buy analysis, and employee benefit structures—so that you can minimize tax liability and align decisions with long-term business goals.
Our team is fully engaged in every step as we carefully review the year’s documents and methodically prepare the return that best reflects our client’s performance while limited tax liabilities.
Our small business tax services are designed to simplify your tax management, reduce your liability, and enhance your financial success.
Strategic year-round tax planning
Guidance on choosing the best legal entity
Tailored advice on tax-efficient business decisions
Accurate tax preparation for all types of business entities
Expertise in identifying deductions and tax-saving opportunities
Find answers to your questions related to small business tax services.
The best legal structure for minimizing taxes depends on your specific business needs and goals. Generally, S Corporations and Limited Liability Companies (LLCs) are favored for their pass-through taxation, which allows income to be taxed at the individual level rather than the corporate level, potentially reducing overall tax liability. C Corporations may be advantageous for businesses planning to reinvest profits, as they benefit from a lower corporate tax rate on retained earnings. It’s essential to consult with a tax professional to evaluate your unique situation and determine the most tax-efficient structure for your business.
We assist with decisions like buying versus leasing equipment by analyzing the financial implications of each option. Our team evaluates factors such as tax deductions, cash flow impact, and overall costs. For example, purchasing equipment may allow you to take advantage of depreciation deductions, while leasing may offer lower upfront costs and potential tax benefits through lease payments. We provide tailored recommendations based on your business’s financial situation and long-term goals, helping you make informed choices that optimize tax liability and align with your operational needs.
With our assistance, your business can qualify for a range of deductions and credits, including operating expense deductions for rent, utilities, and salaries; depreciation deductions for assets like equipment and property; and home office deductions for businesses operating from home. Additionally, we can help you claim deductions for start-up costs and various tax credits, such as the Research & Development (R&D) tax credit, Work Opportunity Tax Credit (WOTC), and energy efficiency credits. Our goal is to identify and maximize these opportunities to reduce your tax liability while ensuring compliance with tax laws.
To stay ahead of tax changes and effectively plan, it’s recommended to meet with us quarterly or biannually. These regular meetings allow us to review your financial situation, discuss any changes in tax laws, and adjust your tax strategies accordingly. Additionally, we can help identify opportunities for deductions and credits, ensuring you remain informed and proactive in your tax planning throughout the year.
Our tax planning services can help you save money throughout the year by identifying potential deductions and credits, optimizing your tax strategies, and ensuring compliance with tax laws. By conducting regular reviews of your financial situation and staying informed about changes in tax regulations, we can develop a proactive plan that minimizes your tax liability. This ongoing support allows you to make informed decisions and take advantage of opportunities to reduce costs and maximize savings, ultimately leading to more favorable financial outcomes.
Discover the value of a partnership that goes beyond tax and accounting, bringing you focus, support, and long-term commitment. Let’s work together to simplify your finances and build a clear path forward.
