Tax planning services for individuals and small businesses

estate tax planningTax laws change throughout the year, making it difficult to plan far in advance. Developing a strategy based on current tax law that minimize your taxes today, however, will help you keep more of your hard-earned money. We work with you to try to eliminate unwelcome surprises when you file your taxes, and yet enable you to have as much available cash as possible during the year. Each individual or business has a unique comfort zone; we tailor the plan to your particular needs.

There are a number of strategies you can use to reduce your tax liability for yourself or your business. These include shifting income and deductions from one year to another, pension plan contributions, and investing money to produce income that is exempt from federal and state taxes. We will help you understand these strategies, in plain English, giving you what you need to make an informed decision.

It is very important to contact us if something changes in your life, since it may require a change in your tax plan. If you experience a life event such as marriage or divorce, having a child, changing or losing a job, having a major illness or losing a loved one, it may be necessary to make a change in your tax withholdings to recognize more or less taxable income. There are steps you can take that can help prevent difficulties later on. As an example, having a child may lead to tax credits that could reduce your withholdings and give you more money in each paycheck. Alternatively, not having withholdings taken out of unemployment compensation or out of an early
retirement withdrawal could result in an unnecessary tax liability when you file. Deciding when to exercise stock options, make real estate transactions, or make business transactions all require planning to minimize the tax impact of these actions. Being pro-active requires an expert plan designed with your individual needs in mind.

Call us at (603) 432-0310 with your tax planning questions and to book an appointment.


About Judy Murray, CPA