Provident CPA & Business Advisors provides our clients with peace of mind through our Five-Star Program. Discover how each step can smooth your path to prosperity.
Executives, investors, and high-income entrepreneurs know how big of a burden tax time can be. You need a strategy in place to ensure you’re mitigating the impact and setting yourself up for growth. The 5 Star Program™ at Provident helps you get out from under large tax bills and instead shift toward long-term profitability.
Here’s an overview of the five stages of our program and how they can benefit your business.
1. Total control over tax expenses
An essential part of our process is ensuring that you pay the least amount of tax legally possible. We review each and every way you can save. You won’t leave any money on the table just because you weren’t aware of your options.
Provident helps you with tax forms, deadlines, and ways to minimize your income tax burden. Our team of professionals enables you to take control of all of your finances come tax time—and well before it.
2. Creating a road to wealth and prosperity
We set your business on the path to success. Provident performs a financial statement review, helps with budgeting and forecasting, determines the critical drivers of your business, and assists with cash flow planning.
There won’t be any uncertainty about your current financial position and where you’re headed with the right tools and strategies in place.
3. Maximum savings and minimum liability
Our professionals will help you implement tactics to lower your tax obligation without adding tax liability. We’ll make sure you’re deducting all applicable business expenses. You may be missing out on worthwhile deductions, like the home office deduction, that could help ease your tax burden.
You may not be aware of every deduction that applies to your business, and we’ll make sure you qualify.
We’ll also review your investments to ensure that your choices are the most tax-efficient. Tax planning in every aspect of your portfolio ensures that you’re not paying more than absolutely necessary. Because your investment income may be the most heavily taxed, we must break down each tactic and reconsider the best options.
4. Lowering taxes legally and ethically
There are many strategies that high earners take to lower taxes legally, relieving April’s impact. These include:
- Lowering taxable income with pre-tax IRA contributions
- Making charitable contributions
- Bundling contributions to combine two years of deductions, raising deductions over standard thresholds
- Harvesting tax losses on losing investments to reduce taxable income
- Investing in a health savings account (HSA)
- Contributing to a 529 college savings account
- Contributing to a flexible spending account (FSA)
- Deferring income if you think you’ll make less in the next tax year
- Starting a side gig to claim more deductions
- Increasing the cost basis by adding reinvested dividends after selling an asset, reducing the capital gain
- Claiming applicable military deductions
Our team will walk you through even more ways to save on taxes, as applicable to your situation or business.
5. Peace of mind
The final stage in our 5 Star Program is leaving you with peace of mind. We cross our t’s and dot our i’s so that you’re never worried about the risk of an audit. We adapt our thinking and approach to your specific situation to ensure you’re paying the least amount of tax legally possible, setting you up for more profit and continued growth for many years to come.
Our advisors know how important it is for your business to have the right strategies in place so that you’re never concerned about paying too much in taxes.
Our SES Process™
We implement four stages in our Strategic Entrepreneurial Systems™ process, including:
- Strategic Blueprint™: This is a quantitative assessment of your financials, from taxes to accounting to business cashflow. We then provide suggestions to improve and information about how Provident can help in a long-term engagement.
- Onboarding: When you decide to work with us, we’ll start onboarding by gathering all additional information about your finances and your business.
- SES Implementation: We customize the services we provide based on your needs and our recommendations.
- Quarterly Pulse: We meet with you every 90 days to review goals and adjust the plans for the next quarter.
When you’re ready to strengthen your business and start the path toward long-term growth, work with our experienced team at Provident CPA & Business Advisors. We put concrete, measurable goals in place so that financial outcomes are attainable.
Contact us today to get started.