July 18, 2019 – San Francisco, California. Safe Harbor LLP, considered one of the top tax advisors in San Francisco, California, for businesses, startups, and individuals, is proud to announce a new tax guide for 2018-2019. The new guide is a handy summary of recent tax changes, and allows high income individuals and business owners to take advantage of tax planning and advisory opportunities. Most of the client base of Safe Harbor LLP is in the San Francisco Bay Area, but interested persons are encouraged to download and leverage the no-cost resources in the tax planning guide.
“As they say, ‘failing to plan is planning to fail,’ and so it goes with taxes,” explained Chun Wong, Managing Partner at Safe Harbor LLP. “We’re very excited about this new tax planning guide since in our capacity as tax advisors here in San Francisco we work very closely with our clients to leverage every possible tax minimization opportunity. The new guide makes a fun (in quotes) summer read for any businessperson or high income individual who wants to have a tax minimization strategy for 2019. ”
Persons who would like to access the tax planning guide can visit the website. Those who want to take the next step and learn about tax advisor services in San Francisco can then click up to the ‘contact’ button to request a consultation.
A NEW TAX ENVIRONMENT AND A NEW TAX PLANNING GUIDE
Here is background on this release. On December 22, 2017, President Trump signed the “Tax Cuts and Jobs Act,” which became known in the vernacular as the “Trump tax cut.” This controversial overhaul to the US tax system took away certain deductions, among them the deduction for state and local income taxes or SALT, which had an impact on many San Francisco residents. After all, the Golden State is one of the most heavily taxed states in the Union. The new law took effect in the 2018 tax year, with 2019 being the second year under the next tax changes.
For this reason, the new tax guide is a wonderful opportunity for businesspersons and/or high income individuals to do some initial reading and look for tax minimization opportunities. The guide has sections on tax basics, investing, real estate, compensation, family and education, and more. Of particular importance here in San Francisco is the coverage of compensation. Many San Francisco businesses are entrepreneurial startups, and startups can run afoul of the tax code when setting up compensation systems. Indeed, Safe Harbor LLP has become known as one of the best startup CPA firms not just in San Francisco or the Bay Area but throughout California. The best first step is to download the guide and read it; the second is to reach out for a consultation. No two tax situations are the same, and a consultation with a true tax advisor is the best way to begin to formulate a customized tax plan for 2019.
ABOUT SAFE HARBOR LLP – A PROFESSIONAL CPA FIRM IN SAN FRANCISCO
Safe Harbor LLP is a CPA firm that specializes in accounting and tax services for individuals and businesses throughout the San Francisco Bay Area and greater California. Safe Harbor CPAs helps both individuals and businesses with tax preparation, IRS audit defense, and audited financial statements. The firm prides itself on friendly yet professional service and utilizes state-of-the-art Internet technology to provide quality customer service.
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