A: The answer is “yes” we can do that but it’s a matter of figuring out if it’s financially viable or not. Going back and opening up a previous tax return is not a small task. Think of it like tearing down an existing building and then constructing a new one in that same spot. We have to go back and analyze the previous filing and then make necessary adjustments and file it again. This just simply means that there has to be a significant savings to be had in order for this process to make financial sense. However, if we analyze the numbers and the savings are significant enough then we can definitely do this.
The analysis is included with our paid services and the decision to amend past returns is yours to make
A: That is a great question and very important to know before going into the transaction.
The short answer is that wherever possible we will take action on whatever steps that we can control to execute FOR you.
Simply put, there are also steps and actions that only YOU can take.
Think of it like getting a personal trainer for working out.
The trainer will educate you and instruct you on how to do things properly.
They will be your accountability partner and cheer you on to your goal.
When you’re in the gym facility, they will spot you and make sure that your form is right and that the exercise is being done correctly to prevent injury and obtain the fitness results.
However, they can NOT do the workouts for you. Nor can they be in your home to watch every bite of food that you consume.
They can’t get your body into shape, only you can do that.
It’s the same way here. We will educate you and provide every resource possible. We will show you exactly what to do and make sure you understand it fully so you can incorporate it into your business.
We simply can’t do the internal work for you because we aren’t you and we aren’t employed by your business. We would have to be employed by you, have access to your bank accounts and accounting software and be able to do transactions and input information into your CRM software among other things to do the work for you.
All this being said, we offer the “white glove” approach. This means that we don’t just put together the strategies that we determine will work for you and then give you the plan and tell you “good luck” and expect you to just implement it on your own.
You can get that approach at some other places but here at Make Taxes Fair our success is based on your success.
We will guide you (and where possible act WITH you) on implementing the processes to make the tax saving strategies a part of your daily business life so that it’s easy and seamless moving forward.
A: Everyone always talks about the tax laws changing, and it’s true, they do, but most of the time the changes aren’t as widespread and significant, or as frequent as most people think. Most of the time it’s just a piece of the law that changes and many of the “baseline tax strategies” that are deployed in a tax plan are time tested and have not changed for years.
While changes in tax laws are something that are not in our control, being in the know and having awareness of changes that are coming in the near future is in our control.
We keep up to date with the current laws and any future changes that have been announced.
At the end of the day there is only so much that is in our control and we make sure that if it is possible to control then we do that.
As for the rest of it, we don’t let it stop us from moving forward.
Not doing a tax strategy because the tax laws MIGHT change is like not getting that piece of software that you really need for your business but you’re always waiting for the next update before you buy it because you don’t want to have an old version.
The truth is that if you are always waiting then you are doing just that and staying in place.
Not having the software will cost you far more than getting it and having to update a few months later.
Same goes for tax strategy. Not doing it because laws might change will cost you far more money than doing it and having to make adjustments to law changes several months down the road.
A: Yes! The answer is yes because taxes are just a math problem and the tax strategies that we use are according to the US tax code and WILL save you the money that we tell you.
It’s not a ballpark figure and it isn’t wishful thinking.
As long as the work is performed correctly and follows the guidance we give then it will result in the savings that we propose.
If you’re curious to know what strategies are the right ones for you and exactly how much tax money you can save, then find out here. It’s a FREE analysis for you!
No, we are not attorneys and when it comes to legal matters we will always give a recommendation to an attorney when we have one for the job or simply advise you to use your own counsel.
As a business owner you know that the lines between accounting, legal, HR, finance, retirement planning, and many other areas of expertise can sometimes be blurred or intertwined.
Rest assured that we are confident in what we know and whenever a topic of discussion overflows into another area such as legal we will never guess at the answer. We will always make sure we get accurate information before moving forward.
Here at Make Taxes Fair we believe it is our duty as Americans to help our fellow entrepreneurs to structure their businesses in the most tax efficient manner possible. As we like to say, “Friends don’t let friends overpay the government”.
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