Michael Shulkin Certified Public Accountant
Services
Tax Planning
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Tax planning is a continuing activity throughout the year. Income tax expense is no different than any other expense and is managed no differently. Income and tax projections for the current year should be updated throughout the year with tax saving steps under continuous review. Multi-year projections, although less certain, provide information to effect longer term planning.
Tax Return Preparation
Tax returns are required by the taxing authorities, but the balance due or refund should never be a surprise. Through proper planning, the tax return is only a byproduct of the tax management process throughout the year. Whether the return is a simple return or a multi-state corporate filing, the filing should only be a summary of the planned tax position.
Promotional Products Industry
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As with any industry, promotional products distributors and suppliers operate in an environment that is unique. A CPA's tax, accounting and business management services should consider the unique issues and practices in the promotional products industry. Whether issues with EQP, vendor deposits or sales tax on sales to out of state clients are faced, the CPA's service is at a much higher level when knowledge of the industry is significant.
Succession Planning
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Long term business planning requires a focus on succession planning or exit strategies. The privately held business normally is the owner's largest asset and can be a very illiquid asset. To maximize the value of the business to the owner and to the employees of the business, the succession or exit strategies are critical.
Business Planning
Effectively managing and operating a business requires an understanding of the business and the information to monitor its progress and to identify problems early. The structure of the business information systems is critical to supplying management with the data needed.
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