July 2021 Tax & Accounting Insight

Message from President Josh Shilts

Now is the time to start thinking about 2021 tax planning! Diligent planning is essential to keeping tax obligations low for all kinds of small businesses. Our firm is highly experienced in tax planning and compliance for small businesses and individuals. We understand how tax regulations apply to businesses in various industries and how to implement tax planning methods that will reduce your liability. The tax laws change constantly so we make it a point to be keenly aware of how updates and revisions could affect your business. And if you’re starting a new business, we can identify which business structure will afford the highest tax savings as your business grows.

We offer a number of tax planning services for businesses and individuals alike:

• Strategic Tax Planning – Financial decisions often have tax implications. As your tax advisor we’ll manage your effective tax rate to keep taxes low so more profits head towards your bottom line.
• Transitional Tax Planning – Working with our team, we’ll help you take advantage of a range of tax-smart techniques that will assist you in any time of transition. This is crucial, because it’s not what you earn, it’s what you keep.
• Multi-State Tax Planning – Businesses that operate across multiple states are prone to a number of complicated tax issues. We’ll make sure you’re in compliance with all State and Federal tax regulations.

Our staff is already booking tax planning appointments into mid-October, so we would advise you to secure your slot today. Please note that tax planning appointments are not scheduled between August 15th and October 15th, as this allows our staff to finalize business and individual returns. If you decide to schedule an appointment, please know you will receive an email that includes a list of documents to provide us via your Shilts CPA Firm Portal prior to your appointment. This will aid us in making the most of your time and planning.

As your trusted advisor, we would highly encourage you to contact us today to schedule your appointment and take advantage of our knowledge to help save you money!

Josh Shilts, CPA/ABV/CFF/CGMA, CFE

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Tax Due Dates

Missing tax deadlines can result in heavy penalties. Click here to view all tax due dates and ensure you are to-date on what is due this month.

Shilts Speaks

Our President, Josh Shilts, is passionate about sharing his expertise. We would like to encourage you to join us at his next event.  Click here to view all events.

Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.