Any big debate in Congress about taxes causes the San Francisco business community to prick up their ears.
San Francisco, CA (PRWEB)
December 31, 2017
Safe Harbor LLP, long considered one of the leading accounting firms in the San Francisco Bay Area and in California for businesses, corporations, and startups, is proud to announce an update to its informational page on business and corporate tax preparation. With the passage of significant tax legislation, the San Francisco business community is anxiously awaiting guidance on the new law yet needs to file taxes for 2017, a year that remains under the old law.
“Any big debate in Congress about taxes causes the San Francisco business community to prick up their ears,” explained Chun Wong, Managing Partner at Safe Harbor LLP. “The reality is that the broad brush explanations of the tax law one reads in the local paper are not very helpful, as the situation a business or corporation in San Francisco faces is unique. We’ve updated our informational page primarily to encourage business owners to reach out for a personalized consultation.”
To read the newly updated page on tax preparation for businesses and corporations, visit http://www.safeharborcpa.com/business-tax/. Persons with questions or immediate needs are urged to reach out to the accounting firm for a no obligation consultation. It should be noted as well that the firm has deep expertise in individual tax preparation (http://www.safeharborcpa.com/individual-income-tax/), and that for many San Franciscans there is not a firm line between their personal and business tax issues, which is yet another reason why a holistic evaluation of one’s tax situation is in order.
THE LONG VIEW ON TAX FOR SAN FRANCISCO BAY AREA BUSINESSES
Here is background on this release. While the media hype about the Trump Administration’s tax law may seduce business owners and others into thinking that something monumental has changed in the American tax system, the truth is not so clearcut. Businesses and individuals continue to face significant tax bills at the local, state, and federal levels, and the complexity of the tax laws has increased, if anything. While the big changes are reductions in corporate taxation and – especially to those who live in high tax states like California, the capping of deductibility of state and local taxes, the devil is in the details. Only by working hand-in-hand with a tax professional, can a businessperson or high income individual create a tax strategy for the long haul. After all, it’s not just 2018 that is issue but 2019, 2020, and subsequent years. For these reasons, Safe Harbor LLP recommends a “long view” when it comes to tax minimization not a “short term view” on the latest legislation out of Washington or Sacramento.
ABOUT SAFE HARBOR LLP – A PROFESSIONAL CPA FIRM IN SAN FRANCISCO
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
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