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Tax Planning

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Planning Ahead for Taxes in Montgomery, Alabama

Effectively preparing for yearly tax obligations and understanding your liabilities in advance can be difficult to do without the help of an accounting firm. Associated Business Services provides tax planning services anywhere our clients do business, including our local communities of Montgomery, Prattville, and Wetumpka. Schedule a consultation with us today to discuss how to best manage your obligations.

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The Tax Planning Process

Our firm begins tax planning by determining your business’ specific situation. This includes analyzing your previous year’s return to uncover any potential inaccuracies or missed credit and deduction opportunities there may have been. We develop an appropriate strategy based on the unique needs of your company and the areas of savings we find.  

We then help you meet this strategy through periodic reexaminations of your tax plan. If this planning service is part of your customized accounting agreement with us, then we can reexamine your plan on a monthly basis; this will also include having us prepare and file your monthly sales and payroll tax returns. Otherwise, we can reconvene during the fourth quarter of each fiscal year to make sure this tax year’s goals were met; we will also update the plan as necessary for the next tax year.

Regardless of how often we review the tax plan, our assistance includes preparing and filing your year-end corporate tax return.

Advantages of Tax Planning

Most business owners value tax planning because they want to legally reduce their liabilities, but this service has supplementary benefits as well. One of the lesser-known gains of this service is helping you navigate your company’s financial highs and lows.

For example, many new and smaller businesses tend to start having tax problems within the first year of operation, and these unpaid obligations can become overwhelming during seasons or years that are less profitable. Similarly, many enterprises in a given industry will have a period where their profits swell temporarily, but they will be unprepared for how this sudden influx of revenue will impact their tax return. Our firm’s tax planning service will help owners and managers better guide their organizations through the ever-changing marketplace.

Tax Planning vs. Tax Compliance

While there is a lot of overlap between tax planning and maintaining tax compliance, they are separate functions. Our tax compliance services are about helping you meet all regulations you are required to follow and representing you before the IRS concerning those rules. By contrast, our tax planning helps you ethically reduce your corporate obligations within those regulations.

Contact Us for Tax Services

Associated Business Services offers tax planning services to Montgomery, all surrounding communities, and across the nation. For more information about how we help your business thrive, call our firm and schedule your consultation today. 

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