2020 has changed a lot of things for every single one of us, from Brooklyn to Beijing.
If you’re still trying to do “business as usual” with an unchanged model – maybe the same one you opened up with in 2020, then your days are numbered, and that’s the point of this post.
The companies and individuals who have thrived in this year are those who have critically analyzed how they do business or how they approach the operations of their business to ensure survival.
Even as an entirely online firm based in Brooklyn, we have had to make changes to our operating model – from expanded meeting options for clients to increased investment in online document exchange portals and an expanded home office. Maybe you’ve moved your business online or hired contractors to complete projects virtually instead of the old in-person model. Maybe you took advantage of all the time at home to fine tune your business plan and plan to launch operations this year.
Regardless of how your business has changed, you’ll want to ensure you understand the impact of these changes have from a tax perspective. This includes any new opportunities for deductions & credits, as well as new obligations and requirements that may arise from your new business model. Contact us today to begin work on tax planning & consulting to handle these needs in 2021!