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WE FOCUS ON WHERE MONEY IS MADE NOT WHERE MONEY IS SPENT

Strategic Tax Planning

WE FOCUS ON WHERE MONEY IS MADE NOT WHERE MONEY IS SPENT

You might have a CPA and an attorney, but navigating the complexities of the 2.4 million words in the Federal Tax Code is a daunting task for most. Many accountants don’t specialize in this area, which is where we come in. At Shapcott & Lauber, we have created a joint partner agreement with a firm that highly specializes in this area. They have helped countless businesses minimize their tax liabilities legally. Strategic tax planning is essential for financial success, allowing you to increase profits while keeping more of your hard-earned money. Let us help you optimize your tax strategy and enhance your bottom line.

THE IRS UNVEILS NEW FEDERAL INCOME TAX BRACKETS FOR 2025

 

​On October 22nd, 2024, the IRS unveiled the new federal income tax brackets for 2025. Every bracket was changed, including the top one. When you add, State and local taxes (SALT), unemployment insurance, social security, medical and expense deductions, our overall tax burden keeps rising.  Not one thumbs up! As a business owner – you are the most advantaged group in the tax code – take advantage of the vast tax planning opportunities available to you now!

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37% tax for singles making more than $751,600 ($609,359) and married couples making more than $751,600 ($731,200).

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35% tax for singles making more than $250,525 ($243,725) and married couples making more than $501,050 ($487,450).

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32% tax for singles making more than $197,300 ($191,950) and married couples making more than $394,600 ($383,900).

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24% tax for singles making more than $103,350 ($100,525) and married couples making more than $206,700 ($201,050).

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22% tax for singles making more than $48,475 ($47,150) and married couples making more than $99,950 ($94,300).

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22% tax for singles making more than $48,475 ($47,150) and married couples making more than $99,950 ($94,300).

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12% tax for singles making more than $11,925 ($11,600) and married couples making more than $23,850 ($23,200).

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10% tax for singles making more than $11,925 or less ($11,600) and married couples making more than $23,850 or less ($23,200).

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Changes are also being made to medical savings accounts. Out of pocket expenses will be increased for both single and family coverage.

​THE ONLY RELEVANT FACTOR IS NOT

WHAT YOU MAKE BUT RATHER WHAT YOU KEEP

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​As an entrepreneur, your business is your most valuable asset for ongoing revenue and retirement. Our mission, alongside our partners, is to educate our clients in the construction trades on tax, business, and legal planning opportunities. We’re committed to transforming how business owners approach tax-friendly exit, succession, and transition planning. To maximize your taxes, your business's value and prepare for a smooth exit strategy and to create the wealth you want, the following focal point will point you in the right direction:

Proactive Tax Planning

TAX PLANNING is a critical component of any business. As a business owner – you are the most advantaged group in the tax code – take advantage of the vast tax planning opportunities available to you.

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Family Succession

Nothing succeeds like success, the saying goes. But for family businesses, it’s smart succession planning that can be the key to sustaining the company in the future and keeping it flourishing.

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Sound Financial Strategy

A solid financial strategy involves spending less than you earn and effectively using the surplus. This requires budgeting to track expenses and identifying opportunities to invest your excess cash.

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Increasing Market Value

You’ve become an expert at solving other people’s problems – now let us help you solve one of your business’ biggest issues – your business’ market value to a third-party buyer, investor, or lender.  

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Tax Incentives for Contractors

Many specialty contractors overlook tax incentives. For instance, only 37% utilize accelerated depreciation and cost segregation, potentially giving Uncle Sam extra money that could strengthen their bottom line.

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Exit Planning Process

What is Your Business Really Worth? As a business owner, a business valuation should be the starting point of your exit planning. Get your business to reach its maximum market value.

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Selling the Business

Many would agree that the hardest part of going into business is starting it. But there is one other decision about businesses that is just as challenging and difficult to make: deciding when to sell the business. Planning is essential.

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Finding the Right Broker

Selling your business is an important step. Most likely, it will change your life. If you want to make sure you are doing everything right, you may want to consider hiring an experienced business broker. 

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Treetops
Bill Shapcott

Bill Shapcott

Co-Owner / Managing Partner

Director, Business Development

As a business owner, you’ve been deeply immersed in daily operations—growing your business, managing taxes, addressing employee concerns, and everything else necessary to keep your doors open. In the midst of this, you may have overlooked vital strategic planning opportunities that could significantly reduce your tax liability and enhance the overall value of your business.

It's crucial to recognize the importance of proactive strategic tax planning.

 

The gap between businesses that merely input their figures into tax compliance software and those that engage in comprehensive strategic business, tax, and legal planning—like the major corporations—will continue to widen. The larger companies are already elevating their planning efforts. Don’t fall behind—act now!

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