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Gerri A Harrison CFP EA
Gerri A Harrison CFP EA, Enrolled Agent
Category: Tax
Satisfied Customers: 252
Experience:  27 years of preparing income tax returns - both personal and small business
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Who can I talk to that can help me setup my current business

Resolved Question:

Who can I talk to that can help me setup my current business to lower my taxes?
Submitted: 6 years ago.
Category: Tax
Expert:  Gerri A Harrison CFP EA replied 6 years ago.

You need to head to an accountant - either a CPA or EA that practices tax planning. Many out there prepare taxes and can input the numbers onto a tax form but you need someone who does planning.


If you have an attorney you are working with you might ask him for a recommendation. If you have an established relationship with a banker you might find them being able to make a recommendation. If you know other small business owners in the area, ask who they use and if they feel that they get recommendations on someone who helps in lowering their taxes.


You can also find information about CPAs at the AICPA website or information about EAs at the NAEA website. These sites can carry descriptions of services offered and you can look for someone in your area that mentions tax planning as one of their services.


Most CPAs/EAs would be willing to sit with you for a free consultation to help you determine if the two of you are a good match. You need to go in with a specific set of questions that will help you assess if this is an individual is a tax planner or just a tax preparer. Most will not give you specific answers regarding your situation during this session, but you want to get an idea of whether tax planning is part of their practice.


For example, you might ask: Would I save taxes if I were a corporation versus a sole proprietor and can you help me determine that? Would you be willing to review my books to insure that I am claiming all eligible expenses? Do you have other businesses of my type so that you are familiar with the expenses that I have? How many small business returns do you prepare a year - are they mainly sole proprietorships or corporations?


If you are going to a larger firm, make sure the individual you are talking with is the individual that is going to prepare the taxes or at least assist you with the tax planning and it is not going to be passed to a junior assistant who does not have the knowledge you seek.


You could also consider organizations in your area like a Small Business Development Center or SCORE that although possibly not able to give you specific tax advice can probably look to make sure all expenses are being considered. Your local community college may have classes on running a small business which might have a tax planning component to it.


Hope this helps. If you have a specific question, please hit the need info button and ask. If you are satisfied with the answer, please hit the accept to close the question so that I can receive payment.

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