Las Vegas Small Business Owner Discovers $2,580 in Annual Tax Savings Through Professional Tax Planning

A Las Vegas tech consultant and QuickBooks user was paying more in taxes than necessary – not because of complex tax strategies he was missing, but due to simple bookkeeping and tax documentation issues that could be easily fixed. During a one-hour summer tax planning session with our firm, we uncovered several completely legal tax-saving opportunities that were being overlooked.

“Like other small business owners in Las Vegas, I’ve been so focused on delivering great work to my clients that I wasn’t paying attention to my own business accounting and tax planning,” said the consultant, who operates his business from home. “I’ve seen tax recommendations on social media, but they just confused me more, so I didn’t do anything.”

Through our business tax review and QuickBooks analysis, we identified over $7,000 in potential tax deductions for our client using money they were already spending in their business.

At a 24% tax rate, these small business tax deductions translated to approximately $1,680 in actual tax savings. Additionally, by implementing proper estimated tax payment strategies, we identified a way to eliminate another $900 in IRS tax penalties.

The total impact? A $2,580 reduction in their annual business tax bill, all from a one-hour tax planning meeting with a Las Vegas tax professional. More importantly, we created simple accounting and bookkeeping systems to track everything properly, ensuring these business tax deductions would stand up to IRS scrutiny if questioned.

“I learned that you don’t need aggressive tax positions to save money on taxes,” the consultant noted. “It’s about understanding small business tax rules and implementing the proper accounting systems. The tax planning meeting with a professional who understood my business helped me understand my legal options to reduce my taxes. The meeting paid for itself many times over.”

Want to discover your potential small business tax savings? Contact our CPA firm to schedule your summer tax planning session before July 31st. Our tax professionals help small business owners throughout Henderson, Summerlin, and the greater Las Vegas valley maximize their tax deductions and minimize IRS penalties. Not in our service area? No problem. We conduct our strategy meetings via Zoom so you can get a recording of the meeting and a written transcript that highlights your action items.