For New Businesses
New Business Incubator
- Get your tax strategy started on the right foot
- Start with a FREE Discovery session
For Existing Businesses
Business Success Package
- Be better tax educated and make better decisions
- Get problems solved that have been keeping you up at night
Founder, Tax Canny
Tax Preparation
Get your taxes done right. We are easy to work with and we promptly return your calls.
Tax Reduction Strategies
We know how to help you find the opportunities to save on your taxes through planning.
About TaxCanny
Tax advisory and tax preparation for small business
We know you have better things than to do your taxes. We are tax accountants, and we are here to help.
We do more than tax preparation. We provide tax strategies to help you plan your business so you can minimize your tax bill.
We know most people don’t speak “tax,” so we explain your situation in a clear, easy-to-understand way. We have a streamlined process that enables you to get the answers you need. You get your documents to us through our simple, secure online portal.
Don’t stress out on your taxes. Get the help you need to avoid wasting your time on taxes, avoid penalties, always be compliant with the IRS, and relax as we take care of your taxes for you. We are detail-oriented and respond to your inquiries quickly. We will help you save money and stay on top of your taxes.
Certifications and Associations
Tax Advisory
We provide tax advice and strategy. We help you to plan your business in order to minimize your tax bill. Contact Us
IRS Rapid Relief
We will immediately take action to obtain a hold on collections. We will analyze every aspect and plan for the best outcome. Learn More
Tax Preparation
Dedicated to helping you get ahead and stay ahead. Contact Us
FAQs
Taxes are not easy to avoid, but many different strategies can help you minimize your tax bill. You are taxed at federal, state, and local levels. You are taxed as an individual for your personal income. If you have investments, they are taxed. If you a business owner, your business is taxed.
Your tax accountant can help you some when you are filing your taxes for the year. However, the best way that they can help is when you connect with them throughout the year so that they can help you guide your business so that you can plan to avoid taxes.
Find a tax advisor who is a tax accountant that can help you implement the tax strategies and tactics that will help you minimize the taxes you pay.
PROS OF SOLE-PARTNERSHIP
Cost. It costs nothing to start a sole proprietorship. With incorporation you have government fees and fees you need to pay to an accountant.
Paperwork
Less paperwork is one of the big advantages of sole proprietorship versus incorporation. Having a corporation brings with it extra accounting and paperwork. Corporations must maintain minute books and corporate bylaws. Other required corporate documents are register of directors, the share register and the transfer register.
PROS OF INCORPRATION
Limited Liability
As a shareholder, unless you have given a personal guarantee, you are not responsible for the debts of the corporation.
Flexibility for taxes and tax planning
With a corporation, there exists the opportunity to pay shareholders salary, dividends or a combination of the two. Your spouse and/or children could be shareholders in your corporation giving you the opportunity to redistribute corporate income to family members with the lower incomes taxed at a lower rate.
Unlimited Life Span
A sole proprietorship is not dependent on the life of any one person. It will carry on even if the shareholders die.
Year Ends
Corporations have the ability to choose their year end and not be restricted to a calendar year-end as you are with a Sole Proprietorship. This opens up the possibility of bonus deferrals. Choosing a year-end may be better for year-end paperwork filing should your business be busy at the end of the calendar year. By incorporating you can choose to have your year-end fall during a slow period.
The IRS catches many errors for you. If you have made a small error, you may want to wait until the IRS has finished with the process of filing. It’s often about 21 days.
If it’s a larger error, you should be more proactive. An accountant can help you work through the best way to contact the IRS and address the issue.
