Tax Planning Services
For most clients, taxes reduce income by between 30-50% – or more. Therefore, planning for taxes – and, moreorver, optimizing your finances for tax purposes –is a critical part of planning for success.
We have 19 years of experience working with professionals, including those with cross border situations and equity compensation.
Integrated Tax Planning
· Given our background in income tax preparation, all our advice is filtered through the lens of tax efficiency.
· All clients receive a tax projection as part of the Year End Financial Planning Meeting, as a way of guiding decisions to make them as tax-efficient as possible.
· In addition, we frequently consider multiple facets of tax planning, which other financial advisors may not be equipped to understand:
· Tax planning over multiple years to ensure lifetime optimization
· Trade offs between planning for income tax vs. gift and estate tax
Advanced Tax Planning for Clients with Corporate Equity Compensation
· Build out a tracking model, covering: vesting dates, options expiration dates, cost bases of previously exercised shares, etc.
· Model alternate scenarios to optimize exercise and sale decisions around cash flow needs, long-term goals and tax minimization
Advanced Tax Planning for Clients in Cross-Border Situations
Analyzing and optimizing tax residency
Tracking assets in and income from multiple countries
Analyzing foreign tax liabilities and planning opportunities
Coordination with foreign tax professionals to mitigate any double taxation
Optimizing taxes on US side by strategic use of Foreign Earned Income and Housing Exclusions, Foreign Tax Credits, and/or Income Tax Treaties
Advanced Planning for Trust, Gift and Estate Taxation
Comprehensive tax planning frequently requires consideration beyond the individual client. Based on your individual circumstances, we may need to consider inter-generational gift or estate tax implications.
Alternately, we may recommend the use of a Trust, and can advise on the income and estate tax implications of different types of Trusts.
As part of this planning, we can also offer advanced guidance on the proper selection of assets to donate for charitable purposes, as well as the most tax-efficient vehicle that aligns with your goals and cash flow needs, such as a Donor Advised Fund, a Charitable Remainder or Lead Trust, or even a Private Foundation.