Louisville Tax Planning LLC was founded on the belief that small businesses deserve and have the right to get solid planning principles. This will enable them to run there business instead of worrying about IRS Tax Audits. Over the past 15 years tax preparation has become more about recording history, which means taking the actual income and expenses for the prior year and simply recording them on the tax returns, instead of working with the taxpayer throughout the year ensuring the lowest tax liability possible. I have 15 years of experience not only working with customers with there tax issues but all aspects of business from there Commercial Insurance to there sales performance.  I have spent my career studying business and successful strategies successful businesses follow.  Success always leaves clues and when it comes to taxes it is no different.

Another disturbing trend over the past 15 years is the way small businesses have decided to handle there taxes. A large percentage of new businesses have decided that instead of seeking professional help with there Accounting and Tax Preparation they would play the odds and just inflate expenses and deflate income ensuring never to have a larger tax bill at years end. Part of the reason this worked is the IRS audits have fell from there high point in the 1970's to a very small percentage of returns.   Also up till 5 years ago if you owed a large amount to the IRS you could always fall back and do an "Offer in Compromise" which in a lot of cases would allow you to settle your IRS debt for less than .50 cents on the dollar.  The old ways of doing business have come to an end and the only way to ensure you do not get yourself caught up in a mess is to plan ahead and start doing things correctly now!!!!  By doing things correctly now you will ensure you pay no more than you have to and also have yourself in good shape in the event of a random audit.  Planning cannot guarantee you will never be audited but planning can make the fact that you are getting audited a ton less stressful.

Fast forward to 2009 and things have changed dramatically.  IRS audits are skyrocketing along with the fact that when you do get audited the chance is very good now that it will be a sit down audit with an IRS agent.  During these audits they will not only be looking at your expenses but also your income to verify that all income has been reported.  Not keeping proper books and records is not a valid excuse and can cost you thousands during these audits.  Also the "Offer in Compromise" is no longer a good fallback since the guidelines have been severely tightened and unless you are destitute there is no more offering a small amount with any hope of settling the debt.

Ask yourself a question "When was the last time your CPA, Accountant, Tax Preparer, Bookkeeper or Business Tax preparer called and said he or she would like to sit down with you and talk about some strategies that could save you thousands in the future?"  The answer to that question is very consistent when asked to business owners and the answer is in the vast majority of cases "Never!!".  The reason is most tax preparers have gotten to the point where they only record history which in today's world does not help you out enough!!!!  Louisville Tax Planning would love to sit down with you and show you how you can avoid all the nightmares of an unexpected audit and save yourself money on your taxes doing things legally.  We are talking about truly planning so at the end of the year there will be no surprises on your tax bill and you will not have to worry about any IRS audit because you will be prepared for anything.  When you go to prepare your tax return you will no longer walk in and be surprised by the outcome because with our program we will meet with you 3 times a year and we will work with you to maximize your savings legally and you will be in control of your tax situation instead of it being in control of you. 

The cost of this is a fraction of the amount that you will see in tax savings and we will guarantee to you that if you follow our advice you will see the results or you will get 100 percent of the planning fee back.  Being self employed is one of the greatest things you can do in your lifetime, the more you understand the better you will be able to take advantage of the opportunities being self employed brings to you.

Please call us for a confidential analysis and let us help you start saving today on your upcoming tax bills and take away the worry of IRS audits or unexpected tax liabilities.