Tax planning and tax forecasting services for individual and small business clients is a core competency of the firm.

Tax planning is an integral and ongoing part of creating a comprehensive financial plan. Effective tax minimization begins with long-term tax strategizing to establish overall objectives and is maintained with conscientious and consistent annual tax forecasting and mid-year tax planning.

Taxes may change based on: Salary increases • Bonuses • Stock options • Deferred compensation plans • Qualified pension plans • Non-qualified pension plans • Investment gain or loss • Real estate capital gain or loss • Business gain or loss • Changes in family status • Funding of education and other tax-deferred accounts • Charitable giving

According to the U.S. Tax Code, tax is imposed on a taxpayer's worldwide income, thus, any worldwide income or realized gain is taxable, at some point, in one's lifetime. We help our clients to take advantage of provisions in the Tax Code that allow for:

• Tax Minimization
• Tax Credits
• Tax Deferment
• Gift Tax Transfers
• Estate Tax Transfers
• Generation Skipping Tax Transfers
• Charitable Tax Transfers

Changes to tax provisions or amendments may necessitate changes be incorporated into a client's tax plan. These changes may affect the following:

• Investments (eg. higher tax rate on dividends and capital gains or the abolition of the capital gain tax)
• Retirement (eg. new retirement vehicles allowing bigger contributions to employer and self-employed plans)
• Estate (eg. abolishment or increases in the estate tax)
• Education (eg. new vehicles allowing bigger contributions and no income phase-out limits)
• Insurance (eg. new medical savings accounts allowing bigger contributions or changes in the deductibility of medical and long term care expenses)
• Alternative Minimum Tax (AMT) Planning (eg. abolition of the AMT tax or changes in the Incentive Stock Options (ISO) and other provisions)