Customized Strategies to Cut Your Taxes
Any CPA can get you through tax season, filling in the blanks with the appropriate numbers, and perhaps taking advantage of common business deductions. But how do you know you’re not leaving money on the table? The fact is, most small businesses pay more than they have to in taxes.
At the Jeramy Smith CPA firm, we recommend a more proactive approach, and it starts long before you file your taxes. We call it a Tax Strategy Engagement, a comprehensive analysis of your books, business goals, prior tax returns and other factors that combine to tell a story about your business. Based on what we learn, we present customized strategies to help you reduce your tax obligations throughout the year.
Actionable Financial Data
In addition to being a dental expert, you also have to run a business. Information is vital in making the right decisions for your business. So, it’s time to approach your bookkeeping differently.
Over the years, I have asked many new clients about their bookkeeping and many tell me that they do it only because their tax preparer needs it to do the tax returns. My challenge to them is look at what the numbers are telling them and use that data to make timely business decisions. Having accurate and current data (both in your bookkeeping and other practice management tools) will go a long way to helping you make the best decisions for your business.
Strategic Business Planning and Goal Setting
Too many dentists start their own practice since it seems like it's the next step, before they even figure out what they really want. They graduate, put in a few years with someone else, and see all of the things they would do differently, then they make the decision to start up a practice or buy an existing one.
Rarely are comprehensive long and short-term goals set. Rarely is there a plan of action to reach those long and short-term goals. Dentists are so busy IN their practice, they can’t find time to work ON their practice. Before they know it, they realize the practice they have is not the practice they want.
We help dentists define their goals, then help put together a plan to reach them.