Planning is the key to managing your tax liability successfully and ensuring there are no surprises around April 15th.  That is why we make it a priority to increase our knowledge of current tax laws and upcoming tax regulations by attending frequent tax seminars.  In fact, certified public accountants are required to attend 80 hours of continuing education seminars every two years. 

Throughout the year, we will monitor your tax situation and when appropriate, we will recommend tax planning strategies to minimize your tax liability and maximize your after-tax income.  We will offer to meet with you in the fall to review your income for the year and discuss any year-end tax planning strategies that we feel will benefit you at that time.

Some of the most common tax planning strategies include:

  • Splitting income among legal entities (i.e. limited liability companies or trusts) in order to get more of the income taxed in a lower bracket.
  • Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
  • Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.
  • Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities. 

These tax planning strategies will help you....

  • reduce taxes on your income so you can keep more of what you make. 
  • reduce taxes on your estate so your family keeps more of what you've made.
  • reduce taxes on your gifts so you can give more.
  • reduce taxes on your investments so you can grow your wealth faster.
  • reduce taxes on your retirement distributions so you can retire in style.

If you have any additional questions, please do not hesitate to contact us.