Heemer, Klein & Company, PLLC provides a wide range of services to individuals and businesses in a variety of industries. At Heemer, Klein & Company, PLLC, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment. Our professional services include:

Tax Planning & Tax Projections

Tax Planning & Tax Projections

Although it can be tempting to put taxes out of your mind until the new year arrives, this attitude can cost you valuable tax savings. With our tax planning and tax projection services, we can create strategies to maximize savings for your business. For example, proper retirement account planning or converting Schedule C filing to S-Corporation filing can both reduce your tax liability.

Historically, clients who benefit most from tax planning are profitable Schedule C filers and existing S-Corporations that allow us to perform a 9-month update of their current year bookkeeping. This 9-month update allows us to run projections and set detailed plans for reducing your current year's tax liability.

To reduce potential underpayment penalties, we tax plan our clients to ensure they are adequately paid toward their current year's tax liability.

Implications of COVID-19 on 2021 Tax Planning for S-Corp Business Owners

Government-related COVID-19 relief has brought with it some changes to S-Corporation tax planning for 2021.  Some things to consider when asking for help with your 2021 tax planning include:

  • Having an analysis conducted of financial results to determine eligibility for the Employee Retention Credit.
  • Ensuring Payroll Protection Program loan funds are properly used.
  • Obtaining assistance with PPP loan forgiveness applications.

Heemer, Klein & Company, PLLC: Your Experienced CPA in Macomb County and Oakland County

Business taxes can be difficult and time-consuming to navigate, especially with the complications presented by our current COVID-19 climate. Planning the most effective tax strategy requires considering the many aspects of federal, state, and local tax codes. If tax planning feels overwhelming to you, our knowledgeable staff will utilize their expertise to build you the strongest tax plan possible for your business.

To learn more about how Heemer, Klein & Company’s tax planning service can save your business money, get in touch with one of our offices in Troy, Sterling Heights, Warren, or Richmond today at (586) 751-6060. We also offer a free initial consultation which you can sign up for through our online contact form.

Services Contact Form