Tax Planning

Mike Habib

The boutique tax firm of Mike Habib, EA serves individuals and businesses with tax representation, tax planning and tax preparation.

Our value proposition is simple: Good tax advice does not cost you...it pays you!

Most individuals and businesses prepare their income tax returns and pay their taxes and more. The question is are you confident that you are utilizing all the deductions that you are legally entitled to, or is your CPA just plugging your figures in certain boxes on your tax return?

Do you know that you are paying (with the help of your CPA) on average over 25% to the federal government, the IRS, and around 10% to the state, the FTB? Would 35% or more (some pay 55%) of your hard earned income is enough for you to stop what you are doing and sit down and think about how many thousands of dollars you could have legally saved and paid yourself with.

With our tax firm you will always pay what you are legally required to pay, no more and no less either. However, you should know that you could be paying more to yourself (keep more of what you make) and paying less in taxes by utilizing our tax planning service. If you could save 35-55% or portion thereof, then that is a great investment, what investment would pay you 35-55% instantly every year?

So what is tax planning then?

Tax planning is the most unutilized tool in most CPA and EA tax firms around the nation! Tax planning is simply a proactive tool to beat the IRS legally; you must utilize it throughout the year, not by April 15th for individuals or March 15th for the corporations as it will be too late then.

Here is some tax planning points as implemented with a client:

  • Healthcare Cost Control: consider a medical reimbursement plan
  • Taxable investment accounts vs. tax deferred or tax free accounts to consider
  • Business entity consideration: C Corp vs. S Corp or LLC

Do not wait for another April 15 to approach you by surprise; you know you can count on your CPA or EA for a timely, accurate tax return. But many times, just filing your return isn’t good enough, and actually could cost you dearly. I want to emphasize that you need a “tax plan” to pay the least you legally can. And that can only be accomplished if you conduct tax panning prior to year end and before April 15th of the following year.

So, our tax planning service starts with proactive and comprehensive analysis of at all your income and expenses, personal and business as applicable. Our goal is to find out every legal deduction, credit, loophole, and strategy available, before you file your tax return.

Of course, there are No “red flags.” No “gray areas.” No “aggressive” moves.

And yes, everything is court-tested and IRS approved and per the IRM – internal revenue manual.

If you want to succeed personally, in business and investing, you need the best information. Best information on prospect buyers, best information on sellers, best information to make money, and best information to keep more of your money.

You rely on your CPA or EA for some of your most important information. But what does your CPA or EA actually do with that information to help you?

At tax time, your books (or worse your shoe box that is full of receipts), tell your CPA or EA how much tax you owe. You scramble for more deductions, backup, receipts, adjustments, etc. But by tax time, it’s usually too late to do anything more meaningful to keep more of what you’ve earned.

Most CPAs or EAs do a fine job recording history – yours, the history you give them! They usually compile monthly, quarterly, and annual books and records. At tax time (April 15th, or March 15th), they plug the “right” figures in the right boxes on the right forms of your tax return, and file them on or before your deadline. Then you call it a day…and so on year after year.

Is that all you really want? Pay without planning or knowing your options?

Here’s How to Beat the IRS. Legally!

To legally minimize your taxes, you need a tax plan. You need concepts; you need strategies that leave more on your bottom line, without raising “red flags” or getting into so called “grey areas.”

It doesn’t matter how good your current CPA or EA is with your stack of receipts on April 15. If you haven’t planned right as shown above, April 15th is just too late, again.

Let me ask you, have you organized your business right? Do you have the right benefit plans for yourself and your employees? Do you have the right retirement plans to prepare for a “less taxing” future? Are you taking advantage of all the legitimate deductions, credits, loopholes, concepts and strategies the current IRS tax code offers you?

Our tax firm is headed by Mike Habib, he is an IRS licensed Enrolled Agent and therefore represents clients in all 50 states. Our firm is an accredited A+ rated company by the Better Business Bureau, and we are an ELP – endorsed local provider by Dave Ramsey. Dave is a popular financial figure who helped millions of families manages their finances. Dave Ramsey handpicked our firm to represent his clients, listeners and prospects.

You can contact us locally at 1-562-204-6700 or nationally at 1-877-78-TAXES [1-877-788-2937]. We look forward to working with you.

Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized tax service boutique firm serving clients in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.

Local communities served:

Tax planning and preparation service help for clients throughout Southern California including Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Newport Beach, Irvine, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley and the San Gabriel Valley.