6 Legal Ways To Fix Year End Statements And Pay Less Tax

Brandon Uttley Financial Issues, Top 10 1 Comment

Tax Time Is Coming

For many entrepreneurs, those words strike fear in their hearts. If the mere thought of getting ready for filing your taxes gives you arrhythmia, we have some excellent tips that will help you get your books in better shape.

Go For Launch has teamed with financial expert and author David Worrell to bring you six free tips on how to adjust your financial reports in your favor. Worrell is author of The Entrepreneurs Guide to Financial Statements as well as a partner and CFO of Fuse Financial Partners.

david-worrell

David Worrell

For 30 years, Worrell has helped hundreds of small businesses minimize expenses—especially taxes—to stay competitive, even against larger companies.

Of course, your business has to comply with current tax regulations. But those regulations also make income reporting highly flexible…which directly affects the income tax you pay.

Worrell has written a free report to help entrepreneurs do better at tax time. It contains six of the most powerful secrets he has learned from decades in business, working with entrepreneurs who have paid him handsomely for this advice.

Six Ways To Change The Way You Report Your Business Income—And Pay Fewer Taxes

6 Legal Ways To Fix Year End Financial Statements and Pay Less Tax

This free report will show you six perfectly legal ways to change the way you report your business income—to make it more profitable for you and help you pay less taxes.

Your CPA may not know these secrets…or want you to know about them. But when you submit your books with the information David shares…you’ll have no trouble when it’s time to prepare your tax return.

Here’s a preview of his six tips on how to adjust your financial reports in your favor:

Tip number one is the fastest way to affect your “Book Profits.” Remember, your decisions will impact not only your profits but your taxes, too—whether you want to show lower profits, pay fewer taxes or show more profits to satisfy investors. This tip usually gives you the highest profits on paper.

Tip number two works for you whether your financial statements are prepared for management, for taxes or other legal purposes. What’s more, it will definitely help you better understand your business.

Tip number three gives your financial statements more consistency. This is an important confidence builder for bankers or investors…and it can have big tax advantages.

Tip number four is especially important for businesses with multi-month delivery cycles and big invoice values.

Tip number five shows how small changes in recording can have a big impact on your financial statements.

Tip number six is for companies that sell a product from inventory. It can have a substantial impact on your profits since it shifts the cost of goods.

Download The Free Report

Most business owners aren’t accountants…so this free report shows you how to take advantage of the accounting secrets David Worrell has learned over the past 30 years.

To get the report, click here. And learn how to take control of your company’s books and make your financial reports work for you—instead of against you.

Photo credit: AgriLife Today

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About The Author

Brandon Uttley

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Brandon Uttley is Commander and CEO of Go For Launch, LLC, his fifth startup. He is passionate about helping others launch and grow successful businesses. When not working on his business, he enjoys spending time with his wife and two young children.

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Disclosure of Material Connection: Some of the links in the post above are "affiliate links." This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."

  • Drew Harrison

    Taxes can be really stressful for business owners. An old place I worked for had a really bad accountant so it was even more stressful for that company. Sometimes it’s worth outsourcing and having a professional do an audit and make sure the IRS gets what they are owed. Great post Brandon!
    Taxes