Tax planning is obviously an important part of financial planning since tax effects may modify otherwise sound financial decisions. However, we believe that developing a financial plan is more than just reducing your income taxes. The objective of financial planning is to accumulate and manage your assets and utilize them to achieve your personal and financial goals.
Our tax specialists focus on planning to quantify and reduce current and future year federal, state and local income tax liabilities. Planning opportunities are illustrated to show the tax and cash flow consequences of implementing an idea. We can help you reach your personal goals by:
- Revising debt structure to increase the portion of interest expense eligible for current income tax deductions
- Determining the timing and structure of charitable gifts to increase the value of the income tax deduction
- Evaluating investment transactions to determine a tax strategy for capital gain/loss recognition
- Evaluating the tax consequences of non-qualified and incentive stock option exercises and helping the individual in determining an option strategy
Our tax compliance process involves one-on-one meetings to gather tax information, prepare the necessary returns, calculate appropriate tax withholding and estimated tax payment amounts, as well as responding to any inquiries received by the individual from a taxing authority.
To bring new leading-edge tax planning ideas to our clients, we maintain a proprietary database of tax planning ideas, strengthening our tax advisers ability to suggest tax savings solutions for our clients.
