Am I paying too much in taxes? Am I taking advantage of the right deductions? Is my business structured properly to minimize taxes?

These are but a few of the questions we hear year after year especially around April 15. We all want to pay our fair share but we believe our neighbor is paying less, for sure. Whenever we hear the word “taxes” all we can think of is “complexity, confusion, frustration.” And no wonder, the Federal Tax Code is very complex. There are over 2,000 forms and publications listed on the Internal Revenue Service (IRS) website with additions and deletions every tax year.
According to Nina E. Olson, National Taxpayer Advocate in her  annual report to the US Congress: “The existing tax code makes compliance difficult, requiring taxpayers to devote excessive time to preparing and filing their returns,”  “It obscures comprehension, leaving many taxpayers unaware how their taxes are computed and what rate of tax they pay.”
As your tax advisor it is our responsibility to stay on top of the many rules and regulations of the Tax Code and bring you the best options available to minimize your tax burden.

Tax planning, preparation and consulting services for individuals

Timely planning is the key to developing a successful tax strategy and timely planning does not happen weeks before the tax return is due. Timely tax planning is an ongoing collaboration between you and us, your tax advisor. Tax planning starts at the beginning of the tax year with an initial review follow by a midyear evaluation and concluding with the final tax preparation in the Spring of the following year. Our very affordable tax preparation fee includes tax planning during the year. We believe this fixed fee approach encourages constant communication with our clients without worrying about the cost of every meeting resulting in better outcomes at tax time.
Tax strategies for individuals may include: Timing deductions to leverage the standard deduction ● Gifts (charity or family) of appreciated stock ● Locking the 0/15 percent long term capital gains ● Installment sale of property ● Maximize retirement plan contributions ● Should you convert a traditional IRA to a Roth IRA?

Tax planning, preparation and consulting services for corporations

Unlike tax planning for individuals tax planning for business organizations begins before inception. When starting a business or restructuring an existing organization, one of the most important decisions the founder(s) face is the choice of legal structure of the new entity. Choosing among C corporation, or S corporation or a Limited Liability Corporation,  or Limited Liability Partnership, among others, will have a direct impact on future tax strategies. When a major transaction is contemplated we can assist in assessing the tax impact of the various options to structure the transaction. The chosen structure, form and financing of the transaction may have a major impact on the bottom line of the company, and in some cases might be the difference between going forward or not. As in the case of our tax services for individuals, our very affordable tax preparation fee for small business includes tax planning during the year. We believe this fixed fee approach encourages constant communication with our clients without worrying about the cost of every meeting or phone consultation resulting in better outcomes at tax time.

Call us for a free evaluation of your individual o corporate tax needs

(972) 824.5825

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