Tax Strategies - Tax Reduction

How can we safely reduce tax without risk?
Lion Tax Corp has the experience to know what deductions you can safely take without risk of a tax audit. We know how to structure your business to take full advantage of the latest tax laws. We work closely with our clients to put together a tax plan with which they are completely comfortable.

Interesting facts about tax payers
Studies by accounting professors have found that people who use tax-preparation services are mainly interested in filing correct returns. But some tax professionals take very aggressive positions, at least partly on the ground that this is what their clients want. Taxpayers are more likely to accept a tax preparer's advice if the advice is to forgo a deduction than if the advice is to seek a deduction.

Most taxpayers seem to prefer taking the safe course even if they do not believe there is a high risk of being audited or if the potential penalty is deemed small.

Taxpayers in general are more likely to terminate a relationship with a preparer if the professional is judged to be too aggressive in preparing a return than if he seems to be overly cautious.

Professionals' willingness to take greater risks is not based on innate recklessness. Preparers may be less fearful of audits than their clients because they know from personal experience that the chances of being audited are very slim -- only about 1 percent of all returns are ever audited.

Many taxpayers want to be totally sure they do not end up among that 1 percent. If they use a professional preparer, they need to make sure they discuss how much risk -- or how little -- they are willing to take in holding their tax bill down.

Today tax payers need to take the maximum amount of deductions that they are comfortable with. Many don’t take enough because they are afraid they will get an audit but the fact is the benefit is worth the risk. Lion Tax Help includes free audit protection with every tax return so you don’t have to worry about this. Also if you are taking the deduction you should, the audit will be nothing compared to the savings you see every year.

Call us today to start saving today 1-866-977-4TAX

Tax Strategies - Tax Blog