Part of running a successful business involves planning. Freyman CPA can prepare projections for your business to estimate current year taxes as well as taxes for the following year.
The projections that we prepare allow you to place yourself in front of any unexpected tax liabilities, rather than addressing them at tax time. If your business undergoes a significant change that impacts the tax liability during the year, we can ensure that you see the impact at the time of the projection, instead of waiting until the taxes are prepared.
Projections allow you to properly determine how much cash your business will need to earmark for estimated taxes each quarter. If your business’ profits flow through to you as an individual, we can project your personal income to determine the quarterly estimates that must be paid.
We perform projections throughout the year to allow for you to adjust your voluntary deductions. Consistent projections also present a clear view of the impact that business, employment, and capital changes throughout the year have on your bottom line and your tax liability.
When your company implements tax strategies that Freyman CPA developed, the tax projections will allow you to see the impact of these tax-reducing policies.
At year-end, we can calculate bonus payments for you and your employees as part of a holistic tax projection.
In summary, our tax projection services:
- Keep you informed throughout the year
- Enable your company to plan ahead
- Allow for dynamic business operations throughout the year