Tax Planning & Compliance
We provide planning for individuals, corporations, trusts and estates that are seeking effective strategies to keep more of what they’ve earned. We also prepare all types of tax returns, including individuals, businesses, gifts and estates, trusts, nonprofits and foundations.
Tax planning and tax preparation are not the same service. As tax planners we provide proactive strategies to ensure that you reduce your tax liability and take advantage of all tax savings opportunities.
Have you considered the following?
- How to use tax-loss harvesting to offset your investment gains
- How to manage your tax bracket and make adjustments
- How to maximize your charitable deductions in a tax-efficient way
- When you should do a Roth conversion
- What to do with your stock compensations from a tax perspective
- What the most tax-efficient way is to withdraw money from your taxable and non-taxable retirement accounts
We partner with you to plan, educate and help manage your finances throughout the year.
- Proactive year-end tax planning ensures the advantage of all possible tax saving options and you avoid any last-minute surprises
- Education with regard to taxation – what deductions are available and how to document the data
- Year-round tax consulting. This ensures that we take advantage of all of the most current tax laws
- Annual management meetings to discuss tax impact of your decisions
- Client Web portal provides secure, password protected site that creates a single point of access to your sensitive documents
- Regular newsletters and blog posts covering the most current tax laws that can affect your bottom line
- Representation and guidance for you with inquiries from tax authorities
Our Tax Return Process:
The Tax Client Relationship:
INTRODUCTION & DISCOVERY
- Tell you about us
- We learn about you
- Review of our process
- This interview culminates in a mutual decision as to whether our services are a good fit for your circumstances
REVIEW OF PRIOR YEAR RETURNS
- Setup of personal web portal
- Data collection includes financial and legal documentation (previous tax return, estate planning documentation, legal documentation, financial planning documentation)
Business Owner considerations
- Data collection also includes QuickBooks or other software files and additional legal documentation regarding the business and organization documents
RECOMMENDATIONS & ONGOING SUPPORT
Recommendations may include:
- Determine all possible tax deductions
- Use of tax-loss harvesting to offset your investment gains
- Managing your tax bracket and make adjustments
- Maximizing your charitable deductions in a tax-efficient way
- Consideration of a Roth conversion or backdoor Roth IRA
- Consideration of your stock compensation from a tax perspective
- Tax-efficient ways to withdraw money from your taxable and non-taxable retirement accounts
- Financial, estate, and retirement plan recommendations through *Copper Leaf Financial
- Education planning and related tax credits and deductions
- Divorce support (determine and divide assets and income, tax analysis of settlement)
- Continued tax strategizing
Business Owner considerations:
- Tax strategizing
- Entity structure recommendation
- Consideration of various credits and deductions including Research & Development (R&D),
- Energy and Education credits, Paycheck Protection Program (PPP), Employee Retention Credit (ERC)
- Withholdings and estimates
- Cost segregation studies
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Review of accounting records and format of financial reports
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CFO and Bookkeeping services options
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Exit planning/Transition strategy that incorporates a personal financial plan and life after business plan
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Fraud Prevention and risk assessment
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Retirement plan assessment
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Transition planning should begin 3-5 years prior to planned transition
In many cases we work closely with *Copper Leaf Financial to implement our recommendations. Many tax decisions need to factor in your financial goals (and vice versa).
* Copper Leaf Financial is an affiliated and separately registered entity.
