Other methods of reducing current federal and state income tax expense for a business client is our active involvement in the “transactions” of your business. This means that either monthly or quarterly we review your financial statements and your personal business activities to determine if you are failing to deduct any expense that would otherwise meet the “ordinary and necessary” test for deductible business expenses. If you are an Employee, we discuss with you any employee business expenses that could be deducted as an itemized deduction. However, for high income clients, the percent limitation many times precludes any deduction.