Tax Planning

“Before anything else, preparation is the key to success.”

– Alexander Graham Bell​

The key to minimizing your tax liability is to have a sound plan, developed by a team well-versed in current tax laws and codes. At Nicola Yester, we review each client’s entire financial picture and proactively look for opportunities for tax savings year-round, not just at tax time. Our staff is continually augmenting their knowledge of ever-changing tax regulations with industry certifications and education.

Good tax planning is more than just tax compliance. Let us advise you on tax-saving strategies to maximize your after-tax income:

  • Defer income so you can use your money now and pay taxes later.
  • Evaluate your withholding so you can increase your take-home pay.
  • Reduce taxes on your estate so can bequeath more to your family.
  • Reduce taxes on money you gift to others.
  • Grow your wealth by reducing taxes on your investments.
  • Reduce taxes on your retirement distributions so you have more to enjoy during retirement.

Here are just a few examples of tax saving strategies:

  • Splitting income among several family members or legal entities to benefit from lower tax brackets.
  • Shifting income or expenses to a more advantageous tax year.
  • Deferring tax liabilities through certain investment choices such as pension plans, contributions and similar plans.
  • Using certain investments to produce income that is exempt from federal or state taxes, or both.
  • Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.

Smart tax planning and strategizing can pay for themselves. Contact our office today to learn more about our Tax Planning Service.

Closed on Fridays

Our office will be closed on Fridays beginning July 5th – August 30th, 2024