Proactive Tax Planning

What would you do with an extra $15,000 a year?

That is the average amount business owners overpay in taxes every year. In fact, taxes are their largest expense. A study by the Government Accountability Office (GAO) estimates that taxpayers overpay taxes by almost a billion dollars each year due to mistakes they and their tax preparers make on tax returns.

Typical tax professionals focus on putting the right numbers in the right boxes on the right forms. They do a great job recording history - usually the history you give them!

Tax Plan Now focuses on proactive tax strategies to save you money before April 15. They don't just record history - they help you write it.

Do you think you pay
way too much in taxes?


Tax Planning

The analogy I like to use is that tax planning is like using a GPS.

Most of us have used one at some point to figure out where we are going. It’s the same for tax planning. The planning gets you where you want to be.

We are not your typical tax service. Our client is looking for ways to legally lower their tax bill and increase their wealth. Most of our clients own rental real estate and have a business, but some clients are just starting out and we can help them accomplish their dreams and create a plan to start investing

What is tax planning?

Do you ever wonder how large corporations make millions of dollars a year and yet pay little to no income tax? They have a team of accountants, attorneys, and financial advisors working the tax system for them. Did you know the same laws apply to your business?

Tax planning is a different approach than tax preparation. In fact, tax preparation is the last step in the tax planning process. After all, tax preparation is simply filing a document recording the history of what has already happened. Tax planning is a proactive approach so that you know what that historical document will show. The truth is, once it is time to file a tax return, it is usually too late for planning.

We start with a discovery session. This would be your starting point. After all, if you don’t’ know where you are now, you definitely can’t figure out how to get where you want to be.

Then we gather information from you about your specific goals and what you are looking to achieve. Maybe it’s not only lowering taxes, but you need more retirement savings or funding for college expenses. This is your destination.

Now that we have the starting point and the destination our work really begins. We get to map out the path to get you there. But just like a GPS, there may be several different routes you can take. In taxes the scenic route is usually not what you are looking for, so we try to get you as direct a path as possible. Once we have the different possible routes, we discuss them to determine the best route for you.

We also realize that in life things change, maybe your child got into their dream college, and you need to change plans to account for that. Maybe you must now take care of an aging parent. There are a lot of scenarios that may arise along the way. That’s when we recalculate, using GPS terms. We look at your plan and see what adjustments we can make to accommodate your new route.

That’s it.

Those are the basics of tax planning.
Find your path and adjust as necessary.


Our Name Says It All

Not everyone shares the same opportunities for tax planning, but if you fall into one of these three groups, you can't afford to miss the benefits from their insight and analysis:

  • You own your own business
  • You own real estate
  • You manage investments

If you want to keep every dollar the law allows, you can't afford to wait until April 15. You need a plan that takes advantage of every legal deduction, credit, loophole, and strategy available.

Get Your Free Tax Evaluation Now!

Contact us today to receive a free tax evaluation to see how we can help you.