Tax Planning Strategies
Questions for Owners of Close Corporations:
Do you plan your tax strategies in advance or just rush around at the end of the year trying to maximize deductions
with a few risks here and there?
Are taxes a significant issue for you or your business?
Hi, I am Jerry Fadgen, CPA. I live in Plantation Florida and love it here! I also enjoy the privilege of being
a city commissioner and Vice Mayor of Plantation.
My practice is limited to Tax Consulting and returns. Previous to having my own practice, I was an associate
with Price Waterhouse.
Several hundred successful clients, individuals and businesses, rely upon me for tax advice. My mantra
in tax planning has always been:
PLAN YOUR TAX STRATEGY AS SERIOUSLY AS YOU PLAN YOUR PROFITS. THE GOVERNMENT CAN BE AN EXPENSIVE PARTNER IN
YOUR BUSINESS SUCCESS. SO MANY TAXES ARE HIDDEN. IT IS NOT UNUSUAL TO FIND THAT OVER 50% OF YOUR PROFIT IS
GOING TO ONE TAX OR ANOTHER.
If you were my client, I would do the following for you:
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Review projections for your income for next three years and concentrate on those years. Beyond three years, tax
laws change so much that three years is the right planning period for most businesses and individuals.
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Advise that you normally take deductions quickly. To delay, you take a chance that the legislature may rescind the
legislation for the tax break. It happens frequently.
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Investigate alternative ownership vehicles: LLC, PA, S Corps, C Corps, etc. There are advantages and disadvantages
with all of them.
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Cash or Accrual system of accounting. Requires some real prophecies! This is one of the major tax deferring techniques.
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Employee Tax Credits: Who you hire may save you taxes. There are always government incentives, both state and
federal to influence hiring practices.
There are many, many strategies, but you can be assured that we categorically investigate each possibility,
when we are trying to minimize your taxes and maximize your income.
SERVICES OVERVIEW
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Tax Representation before the IRS and State DOR
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Tax return preparation, business and individual
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Estate Planning
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Corporate and Individual Tax Planning
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