Higher profits and lower taxes? It can be done.
When business is humming and profits are rising, everybody’s happy. Well, almost everybody. Guess who’s not? The folks in finance; for them, an increase in profits means a bigger tax hit. At first glance, the two go hand-in-hand. It’s a simple matter of cause and effect. Right?
Well, as George Gershwin declared in his hit musical, Porgy and Bess: “it ain’t necessarily so.”
The fact is, there are strategies a business can employ to minimize their tax burden even during times of strong, profitable growth. For example: utilizing cash based accounting for taxes and the accrual method for financial statement reporting; and understanding at what point reporting strong profits is more important than incurring additional taxes.
Strategies like these are not taught in the classroom. They are discovered and gathered, often painstakingly, over years of corporate financial and business experience. Moreover, they can translate in to significant savings for the business.
Join Kaplan CFO’s Managing Partner, Ken Kaplan, on Thursday November 8th from 1:00pm to 1:45pm ET for an important webinar: “Minimize taxes vs Profitable Growth: Do I have to choose?” hosted by The Platinum Group.
During this webinar, Ken will offer some of the diamonds of insight he’s collected across his 40-year career as corporate CFO and business owner. Along the way, he’ll address key issues and opportunities that are at the heart of this seemingly intractable problem.
• Are higher profits and lower taxes mutually exclusive? • How can tax credits turbo-charge cash flow? • What key business ratios should you monitor?
This program is part of The Platinum Group’s Human Capital Management and Business Enrichment Webinar Series. For more information, go to the webinar registration page.