Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
Tim Smith, MSEE, PE
Tim Smith, MSEE, PE, is CEO of Avazzia, the premier microcurrent biofeedback manufacturer. Smith, principal designer of Avazzia technology, had decades of engineering design experience and success at Texas Instruments before starting Avazzia. While at TI, Smith's products included the logic chips used with the Apollo lunar modules; technology used extensively in military jets, including the F-14, F-15, B1 and B2; and micro-technology that transformed the telecom industry.