Tax Planning

Many of our tax clients like to work with us throughout the year, particularly during the last quarter of the year (October through December), to discuss potential tax-saving measures to implement prior to the end of the year.

A few of the Tax Saving Strategies we use are:

• Splitting income among several family members or legal entities in order to ensure more income is taxed in lower brackets.
• Shifting income or expenses from one year to another in order for them to fall at a time when their taxation occurs in such a way as to obtain as low of a tax rate as possible.
• 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.
• Finding tax deductions by structuring your investment portfolio and/or funds to pay for things you enjoy, such as a vacation home.

While we work to be sure that all clients are in compliance with the current tax law, we are working for our clients, not for the IRS. We are always on the lookout for legal tax saving opportunities which may apply to any particular client. In many cases our clients find that tax savings far outweigh the fees incurred for tax preparation services which include thorough, careful, planning and legitimate tax strategies.