Tax Planning

With careful consideration of your short- and long-term goals,
Kristen H Lane, CPA can help devise a plan that fits your unique tax circumstances.

Tax Strategies for the Long-Term

Effective tax planning considers more than just the year ahead. At Kristen H Lane, CPA, we help clients plan for the upcoming year as well as future years to minimize exposure to overall tax liability. We take the time to listen and pay close attention to every detail to ensure our clients aren’t paying too much or putting themselves at risk of not meeting compliance requirements.

Immediate Tax Planning Needs

There are numerous situations that may yield a need for short-term action, such as a business that is considering a potential transaction or experiencing expansion or contraction. Or, an individual may be facing a change in wages, dependents, higher education costs, a sale of real estate, or pending retirement. We’ll work closely with you to consider all options and alternatives to mitigate your tax burden in each stage of your life.

Some strategies that may be employed
in tax planning include:

• Reviewing expenses to see if they are currently deductible and, if not, whether they could be restructured to become deductible
• Determining whether to purchase or lease equipment and vehicles
• Deciding when to incur expenses for maximum deduction in the current year
• Reviewing the tax implications of selling investments or property
• Determining how to structure business entities for maximum tax efficiency
• Planning for retirement and estimating future income needs
• Reviewing estate planning documents to ensure they are up to date
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