When all the calculations are done it would be great to think that there will actually be a pay day. Sadly, that is often not the case for small businesses; not from lack of trying or flawed expertise...It can be simply because other Specialists were or are required.
Could assuming the tax 'man' will get a fair share be a mistake ?
I do what I do well...perhaps very well. Yet... it is difficult to be an expert in every field. Even when my small business falls within the confines of accounting, tax planning, financial planning, legal services or the like I am unlikely to have all the resources to strategically coordinate my assets and maximize any tax advantages I may be entitled to enjoy.
Further to that, the fine law makers of our fair lands seem to enjoy providing the challenges of ever-moving targets.
Is there hope?
There is always hope in these matters.
Will I be able to maximize my assets by employing an expert?
It may be a matter of employing the right expert or team of experts. In the field of entitlement there are many professionals who have earned the title 'Dr. or Doctor'. A Doctor of Philosophy probably wouldn't be your first choice for pulling a wonkie tooth any more than your Dentist would be your first choice for brain or heart surgery.
When is the best time to plan ?
Some time ago.
Even as late as yesterday!
Perhaps that didn't happen.
So that makes today the best day to proceed.
Planning in arenas where we have little or no expertise can be a stressful journey to start but like every journey it starts the same way...first move one foot ahead then the other. It may require an email or a phone call or contacting an 'options coach' to help facilitate the process. Nowadays good help is available...even for this task.
Perhaps the best advise...
Procrastinate Tomorrow!
