Tax Planning Services for Peace of Mind
Our firm offers tax services designed to give our clients’ peace of mind. We of course know and apply tax rules and regulations, but we also believe tax preparation is as much an art as it is science. There are often many correct tax positions that can be taken in a given situation. We strive to understand our clients’ needs in order to determine their best tax position. With extensive experience in tax planning, IRS representation, and even expert witness testimony in tax litigation, we truly offer our clients “tax” peace of mind.
Business Tax Strategy and Planning Services
Income taxes are an important consideration in any business. Smart businesses know that tax strategy is a year round activity. Your choice of business structure, whether LLC, C-Corporation or S-Corporation for example, of course can affect your personal tax liability. Decisions on investment in plant and equipment, when to make year-end purchases, setting up retirement plans and pre-tax employee benefit programs, how you pay family members working in the business, etc. are all other considerations when planning a strategy to minimize your business income taxes. You need an experienced partner at your side to guide you toward the best tax decisions as you plan for the year ahead and as events occur, and who will give you a heads up when tax law changes happen that may affect you. Our experienced tax experts have decades of experience working with business taxes. Let us help with your tax planning and filings so you are in control of your tax situation.
Estate and Trust Tax Planning
Families and couples with estate and trust tax concerns can benefit from an annual review and planning for minimizing the ultimate tax burden on heirs. This would include planning for the sale or gifting of assets, using a Family Limited Partnership (FLP), taking advantage of parents’ unused estate tax exemption, handling pass through business income and so on.
Individual Income Tax Planning
Individual tax planning should be done throughout the year with a strategy that takes puts you in the best tax position by the end of the tax year. Such strategies wold include reviewing your withholding and estimated tax payments, maximizing your retirement plan savings and managing retirement fund distributions, deferring income to the next tax year and accelerating deductions, planning investment sales to offset gains and losses where possible and other strategies such as reviewing your business pass-through basis limits with your tax adviser. There are many more considerations in your income tax planning process, including understanding how any changes in tax laws may affect your situation.
Let Nelson Chartered help you get ahead of the game and have solid tax strategy in place before it’s time to file.