Our approach to TAX PLANNING
is built upon 5 steps:
“Our new Constitution is now established and has an appearance that promises permanency, but in this world nothing can be said to be certain, except death and taxes.
— Franklin, in a letter to Jean-Baptiste Le Roy, 1789
This quote, made famous by Benjamin Franklin (not the progenitor), remains true!
Analysis of the existing tax situation:
Every individual or business is unique in where they are now regarding their Taxable Income or Tax Deductions. Therefore, understanding and analyzing the present tax situation is the first step in moving forward and pinpointing troubled areas.
Understanding existing and future goals:
We all have goals that we want to achieve in both the short and long term. However, there are almost certain times that we face difficult obstacles that take our eyes off the target. Focusing and fully comprehending the ultimate goal will make the difficulties we will likely face in this journey less burdensome and easier to tackle.
Establishing your road map to achieve existing and future goals:
Creating goals may be easy for some, but getting there is another story. You need to look at this similarly as if you were planning a road trip from Coast to Coast. You will need to GPS your way through different roads, where you will need to reset your GPS, and more importantly, when to stop and enjoy the journey.
Planning and managing the ever-changing tax laws and regulations:
We all know that we live in a changing world regarding finances and taxes. The ever-changing business environment, both domestically and internationally, will almost make sure that tax laws and regulations will need to change to gain either a competitive edge or survive an economic downturn. Therefore, Planning becomes even more integral to business success and future growth.
Strategizing and synchronizing business and personal taxes:
Nobody is flourishing when their business and personal taxes are not in harmony. By looking at both elements and understanding how each functions, we will create a strategy that you can successfully achieve the best result in both your business and personal taxes without sacrificing one for another.