Frequently Asked Questions

How do I decide which entity is best for my company (LLC, etc.)?

That depends on many factors.  There are tax implications that apply to different situations.  We can help guide you through the analysis.  Talk to us.

How can I lower my tax liability?

There are many different strategies that can be utilized to help lower your tax liability.  We can help implement them for you.

Why do I need a business plan, and what does it need to include?

You need it for yourself to set and measure goals, for funding sources to secure financing for your business and for other planning purposes.  The plan does not have to be a massive document, just a clear, concise statement of goals and how you plan to achieve them.  Pascarella & Gill helps clients develop business plans on a regular basis.   We are happy to help.

What do I do if the IRS selects me for an audit?

Do not panic.  You may have been selected at random.  Call your CPA and assemble the necessary paperwork.  We will attend the audit and represent you before the IRS.

I wish to retire.  All I need to do is find a buyer for my business… right?

Exiting your business is a process not an event.  Believing that an exit strategy is simply the sale of your business is a major trap to avoid.  Owners should consider many options for their business exit.  Contact us… we can help you through this process.