Services For Individuals

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Our clients also count on us for tax planning/advice. Some will have special situations that need tax analysis. Others, with fluctuating income, have us monitor their tax burden throughout the year. Reducing the overall tax and avoiding penalties and interest while maximizing the funds you have working for you is our aim.

Some examples of typical special situations are:

  • I sold the rental building that I owned. How much of the gain will be capital gains and how much ordinary income tax will I have to pay?
  • I have a new job with a large increase in salary. How many exemptions should I be claiming?
  • I am going to buy a second home. Should I use the equity in my primary residence to finance this house or get a mortgage on the new home?
  • I want to sell my apartment building and buy another. Can I do a like-kind exchange?
  • Can I contribute to an IRA and is it deductible?

When a client has income that fluctuates we will review the income as often as needed, calculate the resulting income taxes and make tax saving suggestions.

Many businesses today are organized in such a way that the income from their business flows through to the owner's individual tax return. The effect of this is that the business does not pay income taxes. The owner's report the business income on their individual tax returns and they pay the income taxes. Therefore, we recommend that you have one accountant for all your business and individual tax needs. This is vital for accurate tax guidance.

Our firm also consults with clients on a regular basis on estate tax issues.