Tax return preparation and Tax planning go hand in hand.
Most business owners want two things from their accountant: lower personal taxes and numbers that help them run their business. Ironically, most accountants don’t give them either of those things. Tax returns? Sure. Balance sheets and income statements? Of course. But tax returns tell clients how much they owe, not how to pay less. And most business advisors can’t make heads or tails of an income statement or balance sheet.
“We’ll sit down together with your returns, and I’ll ask you a bunch of questions about your income. We’ll look for missed opportunities that could be costing you thousands of dollars in wasted taxes, then figure out what to do about it.”
Avoidance of tax is not a criminal offence. Taxpayers have the right to reduce, avoid, or minimize their taxes by legitimate means.
You need to shape and preplan events to reduce or eliminate tax liability within the parameters of the law.