Tax rates are at one of the most historic lows in the past 100 years. With the current economic and political environment, we are likely to see tax rates rise in coming years. So tax planning is a critical component to your overall financial health and one of the most missed tax management strategies by individuals and business owners alike. Tax planning focuses beyond tax compliance and develops proactive strategies to reducing your tax expenses and maximize your after-tax income.
By utilizing our expertise in the current tax law, complex tax regulations, and new tax regulations; our planning clients better manage their tax expenses and are more prepared when tax law changes occur.
Here is a sample the Tax Saving Strategies we use...
- Implementing Roth Conversion strategies to create tax free income in later years.
- Better use of qualified and non-qualified plans to reduce current year's taxes.
- Develop plans to exercise stock options and other executive benefits to minimize taxes and maximize you net bentfit.
- Managing income and expenses between closely held businesses and the business owners.
- Developing strategies that determine if business activities should be in one legal entity or separated across multiple entities.
- Shifting income or expenses across years in order to have them fall in years with a lower tax rate.
Remember, we work for you not for the IRS. Many of our clients save many times the fee in reduced tax liability through careful planning and legitimate tax strategies.
