As a business owner, you play multiple roles. You are the hiring manager, you ensure smooth functioning of the organization and you go an extra mile to maintain overall peace and harmony among the employees.  Like most of the business owners, if you are not fond of handling accounts, then Ed Lloyd and Associates PLLC are the right solutions for you.  It is a firm based in the United States that provides exceptional Accounting and Bookkeeping Services to the businesses and organizations.

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Accounting and bookkeeping form an integral part of any business.  No matter whether you are a small, a mid-sized or a large business owner, it is extremely crucial for you to keep a finger on the accounts of your business to stay updated with the current business position.  Ed Lloyd and Associates is a team of some highly qualified, skilled and knowledgeable professionals that can help you prepare official reports and maintain books in a timely manner so that profits and losses can be measured accurately.

The team at Ed Lloyd and Associates goes an extra mile and ensure the work has been completed meeting the highest standards of quality.  They take the time to understand the needs of the clients and then plan out a strategy best suiting your requirements.  There is a long list of happy customers that can speak for the proficiency and expertise of the professionals.  They are resolved to pass on meticulous accounting and tax planning services so that you can prosper in your business.


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ACCOUNTING & BOOKKEEPING SERVICES IN CHARLOTTE | ED LLOYD CPA

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Paying income tax can be a threat to many of the business owners. But proper tax planning can make you feel confident about paying income tax on time, says Ed Lloyd & Associates, a tax expert who helps you in reducing the audit risk and help you prepare proper documents for all your finances. Many people ignore tax planning and do not even think about the amount of taxes they have to pay. Then they regret at the time when they have to pay a huge amount in taxes.

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It is important for you to plan for your taxes as they are bound to have priority demands in any company’s cash flow. There are a number of benefits of strategic tax planning if done in a proper manner.

Tax planning is not a single time process, rather, it is an ongoing process that continues with your every purchase, says Edward Lloyd. There are a number of tax planning strategies available for a person and some of them are:

  • Reducing your taxable income
  • Decrease your tax rate
  • Paying tax on time
  • Checking for any tax credit availability
  • Making retirement plan contributions

According to  Ed Lloyd CPA, a strategic tax plan always consists of a proper and customized tax strategy that is completely built around your objectives. The first area to analyze is your desire and need that is making you pay heavy taxes at the end.

A firm foundation plan is needed in strategic tax planning. All the sources of income need to be studied in order to determine the best way to decrease the taxable income, says  Edward Lloyd. One of the methods of strategic tax planning includes that you must get every tax deduction that you are entitled to under US tax code.

Another way to save on your taxes is to increase your entertainment expenses as these expenses are great deductions. Even you can get business automobile deductions as well. All these deductions can make you happy after paying your income tax.

Are you facing financial problems? Read – Best Advice on Financial Problems Faced by Young Generation by Ed Lloyd & Associates


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ED LLOYD CPA | KNOW SECRET TO A SMOOTH TAX SEASON

TAX PLANNING WITH BEST LAW FIRM – ED LLOYD AND ASSOCIATES, PLLC


 

Tax Benefits for Senior Citizens

According to Ed Lloyd & Associates PLLC, the number of senior citizens and retired people in the USA is growing at a very fast rate. When a person turns 65, the way he files his taxes changes. It should be noted that there is a major difference between a retired person and a senior citizen. A retired person is someone who has completed his term of full-time work. On the other hand, a person who is of the age 65 or more is known as a senior citizen.

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Popularly known as contribution plans, 401 (k) is your key to smart saving towards retirement based on tax-deferred aspect. That is to say, now you don’t have to pay state taxes on savings or even their investments until retirement when you actually withdraw your money. But the benefits don’t end there. Experts at Ed Lloyd & Associates PLLC give you a clear picture of what 401 (k) exactly is and the pros of vouching for it.

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Interestingly, there are many employers who sponsor a retirement savings plan for the betterment of their employees through various plans. The fact is that tax rate is low at the time of retirement than during working years and when you pay tax on your retirement; you eventually pay a lot less on your savings. Now these 401(k) plans are for public or private for-profit companies’ employees. Under these plans, a regular amount is cut from your salary before you are made to pay taxes, which reduces the amount income which is taxable and so you end up paying less tax. You can also put money aside on after-tax basis under this plan. Read More →