You and your loved ones are always at the very center of our planning process. Our firm offers the following private client tax solutions:
Individual income tax planning and compliance-
Effective tax management is one of the corner stones of managing and preserving your wealth. We offer individual income tax planning and compliance services to help you make the most of the tax deductions, credits and other incentives available to you. Most work-related,business, and investment decisions have a direct impact on your taxes so we work with you on an ongoing iterative basis to fine tune your personalized tax minimization strategy.
Business income tax planning and compliance: Business income tax return preparation is much more than merely completing tax forms every year. With a comprehensive view,the required task of tax preparation can become a strategic opportunity to identify and implement tax minimization strategies. Sometimes a small change in operations can cause a big change in lucrative tax credits and incentives. We are available to help you throughout the year and can quickly update income tax projections and adjust estimated tax payments so you are square with the tax authorities at the end of the year.
Trust accounting and tax compliance: The use of trusts continues to be popular way to protect family wealth, conduct tax planning, and provide for loved ones without giving them full access to the underlying capital. We prepare trust income tax returns (federal Form 1041 and related state forms) and help our clients evaluate their options for making distributions to minimize over alltrust income tax liability. Upon request we can also prepare specialized trust accounting and financial statements.
Residency planning: Many state tax authorities have become very aggressive in auditing high-income taxpayers who have changed their tax residency. State tax authorities now demand much more documentation and information during residency audits than in the past. For high-net worth individuals, contemporaneous planning and documentation of the intention to change residency is essential. Each state in the U.S. has a different set of criteria they look to in determining an individual’s tax residency. We clearly identify that criteria and guide you on what actions to take and how to document your change of residency.
Coordination with financial advisors and other professionals: We endeavor to coordinate with all of your other advisors such as your attorney, your financial advisor and your insurance agent when providing our tax planning and compliance services. If you happen to be missing an advisor relationship, we are happy to introduce you to some professionals that we trust. The team approach blending professionals with unique skills and perspectives is a consistent winning strategy. First-rate tax advice, just like all professional advice, should be collaborative and client-focused.
Updates on tax law changes for new tax planning opportunities: Tax law is ever changing. It has gone through countless revisions over the years and will go through untold more. As it stands the U.S. tax code is thousands of pages long and the most complex in the world. It is nearly impossible for anyone but a tax professional to keep up.Don’t worry, we have your back! Let us keep up with it for you and convert changes in the tax environment into new opportunities.
