Sometimes all our clients need is a little guidance.

 

One of our clients switched from being a W2 employee to a 1099 sub-contractor and as a result we were able to create a business, specifically an S-Corporation for him.  This allowed him to take business deductions against the 1099 income that he would not have been deductible as a W2 employee.

 

After extensive tax planning, we determined that he was going to owe taxes for the tax year.  We made the decision to set him up as an employee of his company and had him withhold taxes through federal withholding.  We calculated what his tax liability would be and set up a simple process to have that amount deducted from payroll through his federal withholding on a continuous basis throughout the year. He didn’t have to worry about coming up with a lump sum at the time his taxes were due as the tax liability was being collected and remitted throughout the year.  All taxes were paid in using a systematic and automated process that took the worry and stress away from our client.

 

We were able to save him money by switching him to an S-Corporation and his life was made easier through our tax planning process. It’s this simple guidance and strategy that our clients find so much value in. 

 

You don’t have to dread tax season anymore. 

 

Let our Tembo Team help you simplify your business and ultimately, your life.