Tax issues are extremely interwoven within an organization and need to be looked at across the strategic planning process before the end of the year
Dallas, TX (PRWEB) November 30, 2011
PriceKubecka, a Dallas-based, full-service CPA firm, announced today that it is recommending companies begin discussions before the end of the year with their CPA or tax advisor about year-end tax planning.
“We find that many organizations wait until after the end of the year to begin having year-end tax planning discussions,” said PriceKubecka founding partner Brian Price. “Tax issues are extremely interwoven within an organization and need to be looked at across the strategic planning process before the end of the year,” Price added.
PriceKubecka suggests that tax planning needs to be only one component of proactive business planning. Unintended consequences are often times created if companies only look at tax planning independently and don’t focus on a broader view of the business.
For example, there are several expiring provisions this year that could be important to many businesses. One of those is the 100 percent bonus first year depreciation. Businesses that are considering purchasing new depreciable property this year or next should plan to accelerate their purchases, if doing so makes good business sense.
The current tax laws are extremely complex and any action taken must make economic sense, as well as accomplish both tax planning strategies and an overall business strategy.
“The operation of a business takes hard work, sacrifice and maintaining what has been built,” said Price. “Building on what has been created in the midst of a shifting economy, business needs, tax codes and other considerations can be even more challenging than ever,” he added.
For this reason, it’s vital that companies have a solid business plan that includes tax planning and the right advisor, who can offer proactive guidance to help make informed decisions. For further advice on tax planning contact PriceKubecka at (972) 888-0955.
For almost two decades, the PriceKubecka Dallas CPA firm has been providing professional tax, audit and accounting solutions, as well as strategies and assistance for businesses in the Dallas-Fort Worth Metroplex and other regional cities. The team includes seasoned professionals that bring experience from both the private sector and larger, national CPA firms. This synergy of experience enables unparalleled expertise and specialization to large firms and small businesses alike. For more information, visit PriceKubecka.com.