 |
Call today to revive your financial future! (800) 734-1124  |
Tax planningWhether you’re an S-Corporation, C-Corporation, partnership, LLC/LLP, Estate, sole proprietorship, expatriate, have foreign income or an individual, Meyers Financial can prepare your income tax returns.
Tax planning considers the tax implications of individual, investment or business decisions, with the goal of minimizing tax liability. While decisions are rarely made solely on their tax impact, it’s best that you understand income or estate tax issues and costs involved.
We can work toward minimizing your tax liability by:
- Reducing taxable income through income deferral or shifting
- Deduction planning
- Investment tax planning
- Year-end planning strategies
Investment tax planning involves evaluating how to best position your assets in order to minimize the amount of taxes you have to pay on an ongoing basis. This requires year-round planning, and it begins with an in-depth understanding of the tax implications of various investments and investment strategies, including:
- The treatment of wash sales
- Tax-exempt investments
- Gains and losses
- 1031 exchanges
- Qualified dividends
- Tax straddles
- Tax-deferred investing
- Passive income and losses
- Real estate
- Mutual fund taxation
When you give away wealth, during life or at death, you may incur federal taxes—and possibly additional state taxes. These taxes include gift, estate, income and inheritance taxes. You can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them.
Business tax planning
Tax issues are never far from the mind of the business owner, and it's likely that many of the decisions you make will be tax-based. Business tax planning starts with the formation of your business and continues through the sale. The factors that influence your tax liability are:
- The type of business you own
- How you pay out profits to the owners
- Your accounting decisions
Life event planning
Some events in life—retirement, for example—come with tax considerations. Life event planning focuses on the impact of significant events on your life, as well as on the stages of your overall investment plan.
About the EA (Enrolled Agent) Designation
Lillian Meyers, CFP®, CDFA, EA, is a member of the National Association of Enrolled Agents and the California Society of Enrolled Agents, which means that she is licensed by the federal government and is able to practice in all 50 states as well as U.S. territories.
Enrolled agents (EAs) are technical experts in the field of taxation for representation, collections, appeals and preparation of complex returns -- for corporations, estates and individuals.
Because of the difficulty in becoming enrolled and maintaining enrollment, there are fewer than 46,000 enrolled agents in the United States.
Commonwealth Financial Network does not offer tax or legal advice.
IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
Coming Up!
Join
us for our next wealth management session on "Estate Planning: Dos and Don'ts." February 23, 2012 from 12:00-1:30pm. Oakmont, CA. Lunch provided!
Meyers Financial supports Chemo Caps for Kids,
a Commonwealth Financial Network program that provides hand-knit hats to children undergoing cancer treatment.
"Great minds discuss ideas; Average minds discuss events; Small minds discuss people."
- Eleanor Roosevelt
Receive a free copy of our whitepaper — "Your Estate, Your Trust"
Enter your name & email address and you'll receive the whitepaper in your inbox instantly.