Tax Planning

What is the difference between Tax Planning and Tax Preparation?

Tax planning is the process of looking at a person’s life (and business, if applicable) to legally reduce their tax liability (before year-end).

Tax preparation is the service most accountants offer. This is the process of reviewing a person’s financial results in any given year and preparing tax returns for submission to the IRS (after year-end).

Your typical tax preparation service is reactive, so by the time the accountant receives the information, it is too late to make any changes that might reduce the person’s tax liability for that year (other than possibly making retirement contributions).

Planning is proactive, and is the key to successfully and legally reducing your tax liability. We can go beyond mere tax compliance (tax preparation) and proactively recommend tax-saving strategies to maximize your after-tax income and reduce your tax liability.

Businesses and individuals pay the lowest amount of taxes allowable by law because we look for ways to minimize your taxes throughout the year, not just at tax time.

With shifts in the economy, technology, and legislation, it’s become more challenging than ever to navigate the tax and financial landscape. Through our tax planning advice and advanced strategies, we help minimize your tax liability, and maximize your income and assets today and for the future.

We work for you not for the IRS. You can save many times over the amount of the fee for our planning services in reduced tax liability through careful planning and legitimate tax strategies.

We offer individual tax planning services as well as business tax planning services nationwide. Contact us if you’d like to receive more information about our Tax Planning Services.