How Tax Planning Works

by | Jun 22, 2021 | News

Tax planning is usually conducted by a Certified Public Accountant with extensive knowledge of tax law, and not a tax preparer (who may or may not be a CPA).

It involves a 4-5 week research process and custom analysis of your entire financial situation to determine ways of lowering your tax liability. This includes: 

1) Maximizing your deductions; 

2) Optimizing your retirement and insurance structures; 

3) Taking advantage of various tax reduction strategies available to businesses and their owners; 

4) Niche strategies (such as those pertaining to real estate); 

5) Advanced tax planning strategies, like those pertaining to tax credits; 

6) Legal entity optimization, if applicable;

7) Any of the recently-introduced pandemic-related strategies, such as employee retention tax credits;

6) Any other aspects of your taxes and finances that are important to you – such as funding your children’s education, minimizing capital gains taxes or insurance planning. 

Following the analysis, a Tax Reduction Strategist will be able to pinpoint the strategies you can implement to lower your tax liability on an annual basis.

This holistic and robust process is our flagship service – and we have over 20 years of certified public accounting experience.

Schedule a consultation to find out more!