Things change with each phase of life, one guarantee is that tax rules will change with you.
Planning is paramount to success in each of these phases of life.
With tax planning, your financial and personal life operate in sync. Without synchronization you pay unnecessarily and can become blindsided by risks that creep in unexpectedly.
At TKG Tax & Accounting, tax planning does not start and stop with a tax return. What begins with a conversation about your goals and objectives morphs into a framework constructed specifically for you, your business, and for your family’s future.
We work with individuals, families, trusts, and business owners who want a steady guide through a complex tax code. Our team of certified public accountants bring experience in several facets of tax, inclusive of income, estate, gift, and fiduciary.
We remain current so you can ignore the headlines and noise.
Thoughtful tax planning across the year
Tax planning works best when treated as a year-round process, not a once-a-year chore. Although the past can be used to bring clarity, we keep you focused on the future.
Examples of tax planning may include:
- Using retirement plans and health savings accounts to reduce taxable income
- Choosing correct business structure and/or reviewing those set up years ago
- Timing income and deductions to smooth out your tax bill over time
- Coordinating your salary, draws, and distributions as a business owner
- Aligning charitable giving with both your values, and your tax goals
- Planning for stock options, restricted stock, and other equity
- Maintaining bookkeeping software to ensure accurate records
Many clients also face questions that reach beyond one state or one type of tax. You may own out of state rental property, run a remote team of employees, or split your time between more than one home. We help you sort out residency rules and credits for taxes paid to other states, so you don’t pay the same tax twice!
We also work with you on estimated tax payments and safe harbor rules.
The goal is simple: No surprises or penalties at tax time.
Clear, accurate tax compliance
Good planning still needs careful execution. We prepare and review federal, state, and local returns for:
- Individuals and families
- Corporations, partnerships, and LLCs
- Trusts, estates & gifts
- Exempt organizations and private foundations
Our process includes a detailed review of prior returns. We look for missed deductions, misclassified items, and elections that no longer serve you. When we find issues, we explain your options in plain language prior to acting.
Support with tax authorities
A notice or audit can generate immediate stress, de-railing your focus. You do not need to face this scenario alone. Our CPAs respond promptly to tax notices, communicate with tax authorities, and aid in crafting a well-documented position. Our ability to focus on facts lends clarity and allows you to move forward with confidence.
If you want a tax team that speaks in straight answers and treats planning as part of a bigger financial picture, TKG Tax & Accounting is ready to help. Contact us today.