Tax Planning & Consulting

Our most common involvement of tax planning comes in October or November for many of our small business clients. We have found that the time spent is a great resource not only in adjusting the potential tax liability estimates that we calculate during filing season, but also a great opportunity for us to identify actions that can be taken to alleviate tax burden. Our clients often express appreciation for the timing of these meetings being such that enough of the yearís transactions are available so that we can make valid estimates, while still allowing them time implement the steps that we identify before year end.

We are also often involved in assisting clients in addressing and preparing for unique tax situations such as the sale of long term capital gain property, the purchase/sale of a business, or managing a retirement withdrawal strategy. It isnít necessary to wait until a tax return is filed to find out the tax burden of a potential transaction. As our name implies, we greatly enjoy the opportunity to look ahead and help bring the tax conversation into your decision making process. It is not uncommon for these conversations to have major influence in the negotiations of the structure and price of a deal.

And, one of the most valuable services that we offer is a comprehensive review of your finances. In these situations, we address the topics of where money is expected to flow over the course of a personís career or lifetime. This approach is intensely beneficial in helping clients make wise choices about such options as whether, and to what extent, they should participate in Roth IRAís, 529 education accounts, 401kís, IRA, debt reduction, etc. Please ask me why there can be such a difference in someoneís lifetime tax burden based on the account type(s) used for their retirement savings. The answer, Iím sure may surprise you.