Tax Services

A good tax accountant not only knows the tax law to achieve the lowest possible tax when preparing income tax returns on an annual basis, but we can help you plan to reduce your tax liabilities over your lifetime.

We have the expertise to work with you in a variety of tax planning and preparation situations. Our objective is to analyze your individual situation so that we may determine the proper tax strategies to help you achieve your goals.

 

We can provide you with the following tax services:

  

Tax Projections

In order to make informed financial decisions and provide an opportunity to do tax planning, it is important to look at proposed transactions before they happen and to estimate their future income tax consequences. We perform these "what if" tax projections for you and provide recommendations on planning alternatives to best suit your personal and business goals.

 

Tax Return Preparation

We prepare individual and entity income tax returns for federal and all state and local jurisdictions. In addition to income tax returns, we prepare estate and gift tax returns for individuals. As part of our preparation process we are looking for ways to maximize tax savings during the current and future years. We will also advise you of changes in the law which affect your individual tax situation.

 

Entity Selection

Businesses can operate in a number of different entity forms. Each form of operation has its own income tax implications. The entity form best suited for your operations can change as the needs of the owners change over the life of the business. Because each business is different, we work with you to evaluate which form of entity best meets your goals and objectives.

 

Retirement & Distribution Analysis

Retirement planning consists of providing you with the options available for saving funds for your retirement and monitoring your progress toward this goal. This requires knowledge of your retirement goals and periodic computations to determine if your goals can be met. When retirement approaches, the focus shifts to distribution planning. The tax law provides many options for distributing retirement funds.  We will help you understand your options, the related tax implications, and make recommendations consistent with your personal goals and objectives.

 

Estate & Gift Taxes

You will work a lifetime to build your estate. Without proper planning, this hard work can be significantly eaten away by estate and inheritance taxes. We will work with you, your attorney and other financial advisors to use provisions currently available in the estate and gift tax laws to minimize the future amount of estate and gift taxes that could be due at your death.

 

Small Business Transitions/Succession

Being able to successfully pass a business on to another family member or trusted employee is very difficult. Many times the success of this transition/succession is critical to meeting your retirement or estate planning goals. We will assist you in this planning process so the business will be properly and effectively transitioned to your successor.

 

College Financing Planning

Planning for college tuition for dependents involves many variables. Some are your personal choices. Others are financial, including tax-advantaged savings accounts, tax credits, and government programs. We will help you determine the savings plan necessary to meet your personal goals and objectives and will advise you of the options available to save income taxes while paying for college costs.

 

Personal Financial Planning

This type of comprehensive wealth accumulation and preservation planning incorporates many of the above services - projections, retirement planning, and estate planning to name a few. We work with you to create and monitor a plan that meets your long-term goals and objectives. When necessary, we will coordinate the services of other members of your professional advisory team - legal, investment, insurance, etc.

 

Deferred Income & Taxes

Many assets have deferred income built into them due to appreciation or other reasons. Our goal as tax accountants is to be aware of all of the client's assets, monitor the deferred income and related income taxes, and to assist you in planning for this delayed tax cost in meeting your long-term financial goals and objectives.

 

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