Tax Planning

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What exactly is tax planning? Tax planning involves strategizing to minimize future tax liabilities, while tax preparation focuses solely on filing your tax return accurately.

Key Components of Tax Planning:

01

Income Timing

Adjusting the timing of income to reduce taxes.

02

Deductions & Credits

Identifying potential deductions and credits for future savings.

03

Retirement Contributions

Planning contributions to tax-advantaged accounts.

04

Investment Strategies

Structuring investments for tax efficiency.

05

Business Structure

Choosing the right entity type for tax benefits.

In essence, tax planning is proactive, whereas tax preparation is reactive.

With our extensive understanding of the AMT, Entitled Tax Deductions, Mutual Fund Dividend Reinvestment’s, Tracking Year-to-Year Carryover Items, Maximizing Your 401(k) Contributions, Quarterly Estimated Tax Payments, Long Term & Short Term Capital Gains, Basis, Adjusting Withholding’s, and Contributions to IRA’s we can help you plan for the future.