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Tax & Retirement Planning

Planning Areas

Individual Tax Planning:
Tax planning is the process of reviewing numerous tax options to determine how you conduct business and personal transactions to reduce or eliminate tax liability. Most small to medium-sized business owners disregard tax planning and don’t give their taxes consideration until it is time to meet with their accountant to file a return. Tax planning is an ongoing process and tax advice from a Certified Public Accountant is a valuable commodity for both your business and you personally. It is to your benefit to review your monthly income and expenses to ensure you are taking full advantage of the tax deductions available. In most circumstances the taxes saved are far more than the tax planning fees.

Business Tax Planning:
Tax planning for a business is just as, if not more important than individual tax planning. In most taxpayers’ current tax structure there are many S Corporations, partnership and LLC’s that the income or loss flows through to the individual owner. As such, tax planning at the business level has increasing significance. Our planning ideas and strategies minimize the tax impact to the individual. Decisions on the type of pension plan and when to fund it, the many different depreciation methods available; we can assist in the planning of asset purchases to maximize the current and future depreciation, as well as acceleration of expense and deferral of income are just a few of the tax planning strategies we utilize.

Retirement Planning:
Need help with tax & retirement planning? Don’t be afraid to ask for retirement advice. All of us would like to retire comfortably, and you can if you take the time to build a successful retirement plan. Often times, individuals only visit accountants during their working years and think nothing of retirement savings. With a little homework and a long-term plan you will be able to enjoy your new stage of life!

College Planning:
Creating a plan for college ahead of time will save you both time and money. A modest savings can multiply given enough time to grow. Do you have children or grandchildren and wish to start a college savings fund for them? Complete the contact form on the Contact tab or call us today to begin saving for your family’s education.

Budgeting & Cash Flow:
A seasonal business or not, the need to project future cash needs, income stream and the payment of debt obligations is a necessity. We work closely with business owners to provide the necessary information to make intelligent management decisions. We assist in the development of budgets, cash flow models, debt repayment and debt restructuring.

Succession Planning:
Succession planning is the process of identifying and mentoring inside individuals with the potential to fill key business positions in a company. Succession planning assures that you have employees established and well trained to fill these leadership roles. Effective, proactive succession planning leaves your company well prepared for expansion as well as structurally sound for the sale of a business.