Tax Preparation
Assisting individuals, corporations, s-corporations,
limited liability companies, partnerships, trusts and
estates with their income, estate and trust tax
preparation needs.
- Experienced tax preparation including multi-state
returns
- Continuing education on tax law changes
- Forms and instructions for all states with an income
tax
- Computer generated returns reduce our clerical time
allowing more time to consider your unique tax
situation
- Tax research materials from leaders in the tax
research field
Tax Planning
Judge Learned Hand said: "Anyone may so arrange
his affairs that his taxes shall be as low as possible; he
is not bound to choose that pattern which will best pay
the Treasury; there is not even a patriotic duty to
increase one's taxes." [Court of Appeals,
2nd Circuit, Commissioner of Internal Revenue, v. Evelyn
F. Gregory, (Mar. 19, 1934) full
text]
The key is in forethought and planning. Once the
transaction is complete it is very difficult and often
impossible to "arrange" the transaction to
reduce the income taxes. Calling after you have
completed the deal is like shutting the barn door after
the horse has run away. Call before
you make the deal, sell the property, exercise the option,
etc. Perhaps nothing can be done within the
parameters you define but at least you won't have to say
"if only I had ...."
When should you call your tax professional?
- Before you sign a contract to buy or sell
real estate
- Before you retire
- Before you take a withdrawal from an IRA, a
Roth IRA, and an Education IRA
- Before your child starts college or other
post-secondary education
- Before you set-up college savings accounts
for your children
- Before you start a business
- Before you sell a business
- Before making gifts totaling more than
$10,000 in one calendar year to one person
- Before setting up a trust
- Before you begin investing, if you are new to
investing
- Before exercising employer stock options
- Immediately upon receiving a notice from a
tax authority or being contacted regarding an audit
When tax planning you should remember the old saying:
"Pigs get fatter but hogs get slaughtered."
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