Tax Saving Tips For Your Business From an Accountant in Phoenix AZ

Tax Saving Tips For Your Business From an Accountant in Phoenix AZ

By Jeffrey Brooks, CPA, CFP, MBA for JBrooks Wealth Advisors, PC, a Professional CPA and CFP Firm 602-292-2009 Please consult with your professional tax CPA regarding your specific circumstances!

There are very few expenditures that are tax deductible at the business level and not taxable on your personal tax returns. This legal deduction which allows the legal write off of your home expenses requires that ALL the rules be followed including having a signed agreement and keeping track of the time and duties that are being performed at home for the benefit of the business!

Many business owners deduct personal expenses through their business credit card which is NOT legal because they expect that the IRS will never audit them. Unfortunately, they fail to keep a big enough cash reserve so when they are audited, the result is a serious cash crunch!

Most small businesses are on a cash basis. The result is that they do not have enough cash to be used to reduce taxable income and personal income taxes.

There is a better way. Learn what expenditures will be tax deductible when the proper documentation is kept!

What do we do? We are a different kind of CPA firm. Instead of being reactive and past focused, we are proactive and present and future focused.

Why are we future focused? Because it is too late to fix the past. We can make a difference by focusing on what can be done now and in the future to reduce taxes and tax rates up to 45% of taxable income!

We are seasoned and experienced. We know a lot more than we knew 10 or 20 years ago!

We are Phoenix tax accountants who have over 30 years experience as a Phoenix CPA firm specializing in tax reduction, tax savings and reducing IRS audit risk

I sent this email to my loyal business clients to remind them to get reimbursed on a monthly basis or they would lose the business deduction

As a free service to you, our valued client, I am sending you information, as well as to other business owner clients, on a distribution list. This email impacts most business owners but may not impact you.

Again, good news! There is no charge for a 5 to 10 minute phone call regarding this matter.

I estimate that 80% of our business clients used the Office Admin Expense intellectual property to reduce last year’s income taxes. For those who do not know what Office Admin Expense relates to:

Business owners have a written agreement with their companies to use their home office for administrative and other business purposes for at least 10 hours per week. The number of hours should be recorded on your calendar or in another safe place. Reimbursement should be paid by the business on a monthly basis by the end of EACH month!

The reason I am sending this email out to you is because I am observing that most clients are not getting reimbursed by the end of each month which would be a serious mistake should IRS audit.

If this is the case, PLEASE get reimbursed year to date and make sure to get reimbursed by the last day of each month.

December is a critical month to make sure that the reimbursement is cashed by the shareholder on the December 31st bank statement. Therefore, you will want to write the check a few days earlier than December 31st.

If the reimbursement does not clear the bank until after January 3rd, the reimbursement will not be considered deductible by your business in the current tax year.

I am requesting that each client who using this system, please send the Excel spreadsheet along with a proof of reimbursement to our email.
Please let me know if you have any questions. Thank you very much! Jeff



Jeffrey I. Brooks*, CPA, CFP®, MBA,
JBrooks Wealth Advisors, PC.
4647 N. 32nd Street Suite B245
Phoenix, AZ 85018
Phone: (602)292-2009 (cell for client calls)
602-687-9900 x101 (non-client calls)
Fax: (602)467-3040
“for a wealth of useful information, visit our website at”

*This transmission is intended for the named addressee(s) only and may contain confidential and privileged information. Reading, copying or disseminating this transmission by anyone other than the named addressee(s) is strictly prohibited. If you have received this message in error, please notify us immediately by reply e-mail or phone at (602)687-9900.

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About Jeffrey Brooks

Jeffrey Brooks, CPA, CFP, MBA since 1976 has specialized in helping clients save significant taxes, help businesses increase their cash flow, revenues and profits while increasing their control and satisfaction. Jeff and his accounting firm sincerely cares about the happiness of his clients.

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JBrooks Wealth Advisors, PC.

Certified Public Accountant
Address: 4647 N 32nd Street, Suite B245
Phoenix, Arizona 85018
Phone: 602-292-2009