Introduction This comprehensive worksheet gives small business owners the insights needed to expand their businesses while optimizing their tax strategy. This is crucial in setting your business on a trajectory for sustainable growth and financial efficiency. Please take your time to fill out each section carefully.Business BasicsBusiness Name Business Structure Sole Proprietor LLC S Corp C Corp Partnership Years in Business Industry Business Expansion GoalsShort-Term Goals (Next 12 Months)Increase Revenue by 10% 20% 30% 40% 50% Hire Employees 1-3 4-6 7-10 10+ Open New Locations Yes No If yes, how many? Long-Term Goals (3-5 Years)Diversify Products/Services: Yes No Expand Internationally: Yes No Partner with other businesses: Yes No Financial Performance MetricsCurrent Annual Revenue: Net Profit Margin: Customer Acquisition Cost: Lifetime Value of a Customer: Inventory Turnover Ratio: Tax SavingsCurrent Tax RateFederal: State: Expense CategoriesEquipment Costs: Employee Salaries: Office Rent/Utilities: Advertising/Marketing: Others: Deductions Currently ClaimedDeductions Home Office Mileage/Travel Business Meals Retirement Contributions Health Insurance Depreciation Interest Expenses Education/Training Other: Tax Planning Measures: Quarterly Estimated Tax Payments Retirement Account Contributions Timely Filing and Payment Consultation with Tax Advisor Self-AssessmentDo you have a detailed business expansion plan? Yes No Have you consulted a financial advisor about your expansion? Yes No Are you aware of the tax benefits that can support your business expansion? Yes No Do you understand how different business structures affect taxation? Yes No Have you considered the impact of expansion on your current tax strategy? Yes No Do you plan to revisit your tax strategy in line with your expansion? Yes No Action StepsImmediate Goals: Consult Tax Advisor by: Review Business Plan by: Check Eligibility for New Tax Deductions by: This worksheet is a starting point. For detailed planning, consider consulting with business and tax advisors. Disclaimer: This worksheet is a starting point for in-depth business and tax planning. For specialized advice tailored to your individual circumstances, consult with qualified business advisors and tax professionals. You can reach out to Tax Goddess for tax strategies www.taxgoddess.com or book a call with our growth specialists here- https://taxgoddess.com/growth-team/ Δ
