When was the last time you gave any thought about your business entity type?
By Sean M. Hugo, CPA
Recently we were working on a consulting project for an oil and gas client in Oklahoma. During the consulting project we asked to see the client's income tax returns for the four years. We were shocked at what we discovered and so was the client. With some proper planning the client could have paid $60,000 less in taxes over a four year period. Needless to say our consulting project was expanded to cover business entity formation and consulting. We developed a business entity structure that will help our client to pay less in taxes and also protect his assets. Give us a call today to discuss your business structure and to see if you have been overpaying on your income taxes.