Tax Advisory vs. Tax Preparation
Worried about tax overpayment? Every year we help our clients perform proactive tax planning on each of these categories:
- Legal Entity Design
- Tax Cuts & Jobs Act (TCJA), FFCRA, and CARES Tax Acts
- Insurance & Asset Protection
- Legal Loopholes
- Niche-Specific Strategies
- Advanced Strategies
- Asset & Gift Freeze
- Tax-Advantaged Wealth Management
- Exit & Capital Gains
And when we perform this analysis, we review:
- Prior year estimated overpayment
- Current year estimated overpayment
- Future year estimated overpayment
And almost 100% of the time, people are overpaying each year.
There is a difference between tax planning, what we do and what the average tax preparer does for their clients.
Tax Planning: The process of looking at a person’s life, business, and regulatory requirements to legally reduce taxes.
Tax Preparation: Review the year’s financial results and prepare tax returns for submission to the IRS.
And we do both.
Have you done a complete tax planning analysis with your accountant? If not… we need to talk ASAP: [schedule a time here]