SERVICES - TAX PLANNING

Don’t wait 12 months, begin planning next year’s tax strategies with us and make tax season a breeze.

TAX PLANNING

This service is available to all of our clients, and depending on your business’s needs, there are many to choose from. Such as:

  • Strategic Tax Planning

We are able to manage your taxes to keep them as low as possible, so you can be more successful and increase capital.

  • Estate Planning

We are able to assist you in creating an estate plan that will preserve your assets for the future.

  • Non-Profit Tax Planning

With our vast understanding of tax laws governing Non-Profit Organizations, we are able to make sure your business stays in compliance with current tax legislations.

  • Multi-State Tax Planning

Alongside serving local clients, our services are available nationwide. Businesses that operate in multiple states know all too well the complications of possible tax issues that may arise. With our expertise, we will keep you and your business in compliance with all State and Federal tax regulations.

  • Succession Planning

Developing a proper plan to ensure your business will avoid tax issues when being transferred to your beneficiaries is very important to us serving our clients.

  • Alternative Minimum Tax Planning

We can help prepare the necessary paperwork to determine if you owe any Alternative Minimum Taxes.

ESTATE TAXES

Estate Taxes are taxes on your right to transfer property in the event of your death. Your estate includes, home, life insurance, stocks, bonds and other assets of value. We can guide you in preparing these types of taxes for you.

TRUST TAXES

We are qualified in preparing deductions for income distributed to beneficiaries; otherwise, known as Trust Taxes.

RESIDENT AND NON-RESIDENT ALIENS

Tax and advisory services to immigrants with various visa status like H1, L1, J1 and F1 Services include:
  • Obtaining an Individual Tax payer identification (ITIN) number
  • Foreign Bank Account reporting (FBAR)
  • Non-resident alien tax filing (Form 1040 NR for F1 status)

1031 EXCHANGES

A 1031 exchange is a specific type of transaction which allows an investor or property owner to sell their property and invest in a similar property. As long as the procedures set by the IRS are strictly followed, an investor or property owner can defer paying taxes on capital gains or losses incurred as a result of the sale. Some key points about 1031 Exchanges are as follows:

  • The sale of your “relinquished property” does not have to occur at the same time that you purchase a “replacement property”.
  • Within 45 days of the sale of your relinquished property, you must positively identify up to 3 potential replacement properties. Or, you may identify an unlimited number of potential replacements, so long as the aggregate fair market value does not exceed 200% of the value of all relinquished properties.
  • You must acquire, or close on, the replacement property by the end of the 180th day from the transfer date of your relinquished property.
  • Actual or constructive receipt of proceeds (if you touch the money) from the sale of your relinquished property, prior to acquisition of your replacement property, will disqualify the exchange.
  • The use of a qualified intermediary is required. The intermediary holds the money, accepts the property on your behalf, then transfers the acquired property to you. Many local attorneys and title companies offer this service. Someone who has represented you (attorney, Realtor, employee, etc.) within the past 2 years prior to the transaction may not act as your intermediary.
  • Exchanges involving family members have special restrictions. You may have to hold a property for at least two years after acquisition.