Background A client operated a successful HVAC business for many years. The business generated approximately $300,000 in cash flow and was in a C-Corporation. Like many C-Corporations we come across, the prior “strategy” was to pay the profit out in W-2 wages to avoid double taxation, while overpaying FICA. The client was paying approximately $116,000 in income tax and FICA tax each year. Fortunately, they called one of our Managing Directors at Redwood Tax Specialists! The Plan The client wanted a 5-7 year exit strategy and is extremely conservative and wanted fixed/guaranteed options for any retirement balances. Based on the client’s preferences, cash flow needs, and budget, we designed their custom tax plan with:
"We reduce taxes by 50% almost 100% of the time."
Redwood Tax Specialists Cornelius, North Carolina and Surrounding Areas
This website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.