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Tax

Tax Planning

The best time to address many tax decisions is before the year is over. Tax planning looks ahead. We help individuals and business owners evaluate potential tax consequences, upcoming transactions, and planning opportunities before filing season begins.

An adviser pointing a pen at a financial report while a client listens across the desk

Proactive Tax Planning

A tax return reports what already happened. Tax planning considers what can still be done.

Depending on your circumstances, planning may involve income, deductions, estimated payments, business structure, compensation, retirement contributions, investments, real estate, and other significant financial events.

Areas We Evaluate

  • Estimated tax payments

  • Business entity structure

  • Owner compensation

  • S corporation reasonable compensation

  • Pass-through income

  • Retirement contribution tax considerations

  • Depreciation and capital expenditures

  • Capital gains and losses

  • Real estate transactions

  • Multi-state taxation

  • State tax elections, including PTET where applicable

  • Timing of income and deductions

  • Year-end tax strategies

Year-Round Planning

Tax planning is especially valuable when circumstances change—for example, when income increases substantially, a business becomes more profitable, property is sold, a new entity is formed, or a taxpayer moves between states.

Frequently Asked Questions

When should I start tax planning?
Planning can occur throughout the year, but significant transactions should ideally be discussed before they occur.
Is tax planning different from tax preparation?
Yes. Tax preparation reports completed transactions. Tax planning evaluates future or upcoming decisions and their potential tax consequences.
Can you calculate estimated tax payments?
Yes. We can evaluate projected income, withholding, prior payments, and other relevant information to determine appropriate estimated payments.
Do you provide tax planning for both businesses and individuals?
Yes.

This material is provided for general information only and does not constitute accounting, tax or legal advice. It does not take account of your particular circumstances. Contact the firm before acting on anything you read here.

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Plan Ahead, Not Just at Tax Time

Make tax decisions while there is still time to act.

Schedule a Tax Consultation