B &S Income Tax & Credit Repair Services

Tax Planning and Strategy

 

Judge Learned Hand best stated the doctrine of tax planning in 1947 when he wrote:

“Over and over again, courts have said there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor, and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced extractions, not voluntary contributions.”

 

Commissioner v. Newman, 159 F.2d 848 (CA-2, 1947)

It’s very important that tax planning is done on an ongoing basis when all the different business transactions have not been completed already. This gives the taxpayer more control over the tax consequences. Otherwise, once the tax year has ended, in most cases, clients might be limited to the presentation of the facts to the IRS in the most favorable, legally acceptable manner possible.

 

Our approach truly makes all the difference, allowing you the opportunity to save on taxes, remain compliant and often offset the investment you’ve made in us.In fact, our engagements are specifically structured around providing the flexibility to meet with you regularly so that we can stay on top of your evolving businesses. We always want our advice to be proactive and on-point.

 

 

Our goal is to work with small business owners and utilize business tax laws that minimize tax liabilities and keep more cash in the business.

 

As IRS Enrolled Agents, we are constantly attending tax training’s and seminars to stay abreast of the evolving tax landscape and to collaborate on practical, unique ideas and ways to apply them to the tax law. We spend more than 80 hours a year just attending tax laws and tax update seminars so that we can help our clients get the most tax benefits possible.

 

Now that higher income tax rates have been in place for roughly two years, many high-net-worth individuals have modified their tax-planning strategies.

 

Indeed, routinely revisiting your tax plan at least annually is integral to sound wealth management. You’ll want to consider a variety of strategies so that you’re well positioned to meet your financial goals and preserve your wealth in any scenario, for both you and your family.