Tax Planning

You name it, in the vast world of tax planning for business owners who are not multi-national companies, Swanson Midgley is well equipped to meet the challenges of business owners who face tax burdens, and who eventually ask, “isn’t there a way to reduce my income tax.”

We recognize that the profit margin for most small to medium-sized businesses (revenue between $1-10 million) is generally thin at best, and the addition of federal, state and local taxes, plus the mounting cost of complying with government regulations, makes reducing taxes crucial. So our task is to analyze whether or not available means to reduce a company’s tax burdens are justified on a cost/benefit basis. However, unless a client has had the opportunity for us to perform a stress test on their tolerance to reduce taxes, we simply are not able to determine whether taxes paid might have been avoidable. As Supreme Court Justice Learned Hand said many years ago in regard to one’s duty to pay taxes, “… nobody owes any public duty to pay more than the law demands.”