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Tax Planning

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Planning is looking ahead and being proactive . . .

Just preparing a tax return is only a compliance activity and reactive, all the decisions have been made and opportunities may already have been missed. 

Tax planning, for both individuals and companies, begins with effective tax minimization with long-term tax strategizing to establish overall objectives and is maintained with conscientious and consistent annual tax forecasting and mid-year tax planning.


A few activities with tax planning include, but not limited to:


  • Organization structure, sole proprietor, partnership, Sub S or Sub C. 
  • Determining when it is appropriate to setup a new legal entity.   Including, when to elect Sub S.
  • Forecasting future tax liabilities and determining how to be structured to minimize taxes.
  • Determining when to inject equity or loan money to an entity.
  • Determining how to depreciate an asset. Now, there are mutliple choices, over a fixed life, section 179 or bonus depreciation.  


  • Planning when to elect social security retirement benefits.
  • Filing married jointly or married separately.   
  • Determining the amount of Roth Conversion, IRA and HSA contributions.


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