Seasoned Harrisburg Accountants Assist with Tax Preparation

Trustworthy advice for small-to-medium sized companies throughout Pennsylvania

One of the unfortunate realities of running a company is that you’re not only in business for yourself, your family, your employees, your shareholders and your customers. You’re also in business to support the tax man. The bad news is the tax man will take as much as you allow him to. But the good news is, the tax man has to be content with the least amount you must legally pay. To protect yourself from excessive taxation, Breon & Associates offers comprehensive business taxation planning services. We take a close look at your circumstances to tailor a plan that suits your current and long-term needs. Drawing on decades of experience as accountants and small business owners, our dedicated team helps you minimize your exposure to state and federal taxation, so you can direct your company’s resources towards growth and prosperity.

Practical steps to reduce your state and federal tax burden

For many businesses, tax planning is an ongoing process. You plan for the coming year and in some respects for several years into the future, but you may also need to revisit your tax plan at critical junctures, such as the sale or purchase of a business asset. Breon & Associates is available to help when you need us, so you can make business decisions with timely information on the tax consequences for your business. Effective tax saving strategies can include:

• Shifting income or expenses from one year to another for more favorable tax treatment
• Timing & structuring asset transactions to receive favorable tax treatment
• Creating the appropriate legal entities to minimize taxes
• Deferring tax liabilities through various investments
• Investing to produce tax-free income

Our strategies are always tailored to your company’s circumstances and mission. We work closely with you to understand your company’s structure, history, business plan and development goals. We focus our knowledge and experience on your situation to keep you two steps ahead of the tax man.

Giving you every advantage of the new federal tax law

The Tax Cuts and Jobs Act of 2017 was the most sweeping attempt at tax reform since 1986. Although, on balance, the law was very favorable to corporations, the law did involve some give and take. As a result, your taxation planning may be out of date and maintaining your present course could unnecessarily cost your company money. So, if you’d like a fresh pair of eyes to look at your current tax strategies, Breon & Associates is happy to oblige. We can enlighten you about how changes might affect your business, such as:

• Corporate tax rate reduced to a flat 21 percent
• Corporate AMT has been repealed
• Net operating losses after 2017 can only be carried forward
• Businesses with gross receipts over $25 million are limited in the amount of interest they can deduct to 30 percent of adjusted taxable income
• Depreciation benefits have been enhanced significantly
• Family & medical leave credit
• Elimination of the 50 percent deduction for business related entertainment expenses
• The domestic production activities deduction has been repealed

Our team has studied the new tax law carefully and is ready to make recommendations to reduce your exposure and lighten your tax burden even further.