A professional tax preparer versus a tax consultant is analogous to a general medical practitioner versus a board- certified specialist. Specialists normally have a more limited field of practice because of a specialty than the general medical practitioner.
With that in mind, as business tax consultants, we do not take the place of the client’s tax professional and are not set up to do returns, quarterlies, audits, P&L’s, Balance sheets or the like, but rather interface with the areas of business tax planning that can save the client money now! Many times, we are asked to run our ideas by the client’s tax professional which we prefer to do.
Unlike many others, our firm does not charge any initial fees for consulting etc. Our fee is based only on a % of the tax or expense savings, if any. We guarantee results, or you pay nothing. Not many businesses are willing to do the work first to see if they can help you.
Another big difference is that we have more tools and resources available than most tax practitioners have. In some cases, after visiting with tax professionals, I have found they have considered adding these other services because as competition grows even tax people are becoming more commoditized. Some are being shopped like people shop for car insurance. In fact, that is exactly why I changed CPA’s. Let me hasten to say that this is not a treatise on throwing the tax professional under the bus. From my experience as a businessman, I had a CPA for 20 plus years that filed all my returns on time and answered questions that I had in a timely manner. However, never were there any planning or strategies suggested to lower my taxes, so I eventually left and found another CPA who would do the same thing at about a quarter of the cost. After all, I prepared all the income and expense schedules for four different entities. The CPA had only to put them on the proper form. As I have interviewed other business owners I have found their tax professionals do about the same. And for the record I liked my previous CPA. I just did not like what I was paying for the service.
Every business has certain common elements such as employees, payroll, buildings and or lease hold improvements, property taxes for real and or personal business property, research and development costs, workers comp insurance costs, credit card processing fees, waste and disposal fees etc. Some companies have some or all of the above costs.
Our proprietary software calculates data from answers to about 8 to 13 questions and tells us what kind of savings you may be able to claim that you are not claiming now for your company. Most who have taken the time to go through this process have been blown away with the results. The next step is to prove it up. No proof no fee!!!