Personal & Business Tax

“By failing to prepare, you are preparing to fail” – Benjamin Franklin

The IRS Code consists of thousands of pages of arcane, technical language derived from centuries of tradition and written over the past 30 years by thousands of politicians, bureaucrats and lobbyists with various and often competing interests. But that’s just the tip of the iceberg. There are books of Regulations that multiply the Code by ten. Still more books of Revenue Rulings and Revenue Procedures multiply that again. Then there are Orders and Decisions issued by the US Tax Court, the District Court, the Circuit Court and the Supreme Court in thousands of cases, citing thousands more. Together, these add up to hundreds of thousands of pages of tax law and enough books to fill a library. These rules and laws are interpreted and enforced daily by over 100,000 IRS officers, agents, attorneys and employees, each one with strengths and weaknesses, interests and biases, consulting thousands more pages of guidelines contained in the Internal Revenue Manual and numerous other Regional and Local publications.

Is it any wonder that US tax rules are complex and difficult to understand? How can anyone sort through all these variables and run a business or a household with any real confidence that their taxes are ok? How can we be secure in the knowledge that we are not breaking some serious rule? How can we know our taxes are paid, but not overpaid? It is a task fraught with frustration and confusion, one which imposes a heavy burden upon many Americans. After all, taxes impose their effects on 30-50% of the bottom lines of nearly every business in America. They take 40% or more of an individual’s top levels of income. And 55% of the top levels of capital passed on to families by gift or inheritance from one generation to the next. Taxes take a big chunk out of our lives and livelihoods. We can plan for taxes and legitimately respond to reduce their impact. Or not, and pay a large and unnecessary price.

Major decisions confront American businesses daily. Development. Acquisitions. Market strategies. Mergers. Sales. The big opportunity. The big threat. Almost all of these involve large issues of tax and business strategies. On a smaller scale, so do American households. A house is sold. A new business idea is attempted. Kids go to college. A hobby becomes profitable. A family member passes away, raising questions about probate and trusts and extra taxation. Why address such questions alone? Why put such important information, which such potential impact, with less than full focus?

Every business has personal impact. Impact on the chief executives and operators. Impact on employees and their families. Impact on customers and suppliers. And their employees and families. Every family has a need to treat certain aspects of family life as a business. Budgets. Investments. Risk management. Critical decision making. MC Tax was formed to provide the best in consultation and counsel to those businesses which intend to seriously address and not avoid tax issues, for the betterment of the organization. And to provide the best in private and effective advice to families who want to do likewise. As Ben Franklin observed, those who fail to prepare are preparing to fail. Wise and far-sighted corporate managers, like wise and caring family members, will not fail to prepare. Instead they will prepare to succeed. And thrive.
Most folks are really good at only a small portion of those things life requires of us. We might muddle through with much of the rest, not great but ok. Then there are those things which really stump us, or cause us to retreat, shrink back or even avoid involvement. For many folks, taxes are tough. Maybe because of the complexity. Maybe because of the fear of crossing a powerful government agency. Maybe just because we don’t like to deal with them, and would rather do something else.

That’s where MC Tax comes in. Taxes “R” us. Taxes are what we do. What we like to do. What our training, backgrounds and interests have made us very good at. MC Tax was formed to be your “A Team”. We are dedicated to one proposition for you: The Lowest Legal Tax.

At MC Tax, taxes are our core competence, not our frustration. So they don’t have to be yours.