While the provisions of the law are complex, it doesn't impact the 2017 tax year.
SAN FRANCISCO (PRWEB) December 28, 2017
Safe Harbor LLP, recognized as one of the leading accounting firms in the San Francisco Bay Area that offers tax preparation services for both individuals and businesses, is proud to announce a new post to its blog on the Trump tax legislation, formally known as the "Tax Cuts and Job Act" signed into law on December 22, 2017. Given that California is a high income tax state and that many San Franciscans have property and business interests, the firm is receiving many anxious inquiries on how the new law will affect its clients.
“It's really quite simple,” explained Chun Wong, Managing Partner at Safe Harbor LLP. “While the provisions of the law are complex, it doesn't impact the 2017 tax year, and our clients (or anyone interested in income tax preparation services in San Francisco) need to just have us evaluate their income and property vis-a-vis the provisions of the new tax law. Together, we can create a game plan for 2018 that can minimize tax in light of these changes.”
Persons who would like to read the post on the Trump tax legislation should visit http://www.safeharborcpa.com/trump-tax/. Those who would like to set up a consultation on possibly working with Safe Harbor LLP for their tax preparation needs, whether in 2017 or 2018, need to visit the contact page at http://www.safeharborcpa.com/contact-us/ or call the firm at 415-742-4249.
A PERSONALIZED APPROACH TO TAX PREPARATION
Safe Harbor is known as one of the most personable accounting firms in San Francisco. Each client is unique and different and must evaluated in light of the new tax law. While the provisions of the law are easily available on the Internet, these provisions must be first compared to the income and assets of any individual (including, of course, property and business activities). This static evaluation is the first step towards a personalized evaluation. Next, however, going into 2018, the client can change their behavior and Safe Harbor LLP (along with any necessary advice from attorneys as to business organization) can change both the behavior and structure of one's income and businesses so as to minimize taxes within the constraints of the new law. As they say, "The more things change, the more they stay the same." In other words, the tax laws remain complex and it is only a good CPA that can optimize one's income and/or business activities in light of the law.
About Safe Harbor LLP – a Professional CPA Firm in San Francisco
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
Safe Harbor CPA