Personal Tax Planning

Advising individual taxpayers is a service designed to build retirement assets through tax-deferred benefit plans, and to preserve accumulated wealth by minimizing income and estate tax costs through the effective use of tax strategies. Income tax planning has changed considerably over the last 15 years. The emphasis today is on tax deferral of earnings and investment income, and acceleration or the proper timing of tax deductions. The deferral of income is accomplished through the use of deferred compensation arrangements and qualified retirement plans. For taxpayers with real estate or with tax sheltered investments, we plan the matching of passive income and losses. We consult on non-routine matters, including divorce property settlements and qualified domestic relations orders; dispositions of interests in partnerships, limited liability companies and S corporations; tax planning for withdrawals from qualified retirement plans and IRAs; timing for the recognition of accrual income and deductions; and constructive receipt income issues.