Tax Planning
The right tax planning is a team effort. Tax planning situations will vary depending on whether it is a family tax plan and/or business tax plan. Tax planning involves structuring your financial situation in the most tax efficient legal manner to maximize profits and increase net after tax cash flow. The adage, it is now what you make but what you keep.
Our in-house CPA can help you navigate the complex tax code. Tax planning can involve:
- Timing on Sales
- Utilizing trust
- Creating Donor Advised Funds
- Setting up retirement plans
- Reviewing your business filing status
- Investment strategies utilizing tax credits
- Combining various investment strategies to increase post tax investment yields
- Business strategies – R&D tax credit, installment sales, captive insurance companies
Because our in-house CPA works alongside our financial planning team, we can proactively spot scenarios where additional documentation or information may be necessary to help minimize your chances of being audited.
According to the 2021 Investment News Pricing & Profitability Study, only 9% of financial firms offer income tax preparation. For the hundreds, if not thousands, of families utilizing the other 91% of firms, they leave money on the table by failing to capture tax savings opportunities to maximize their financial growth.
