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.