Quality tax services will always implement advanced tax planning as part of the game plan for the following tax year. To put it into Baseball parlance, think of the crafty base runner on first who sneaks a peek at the catcher flashing a sign to the pitcher for a particular pitch. The baserunner then clues the batter stealthily as to what the pitch is going to be to give the batter an advantage. This is essentially what a good accounting firm will have on deck for you by covering all the bases of accounting and financial planning for the following tax year.
Estate Planning & Trusts
Planning for today is always a good move, but what about the future? What will happen to your Estate when you’re gone? This is where Estate planning comes into play. Estates with high net worth are much more complex and difficult when it comes to decision-making after your departure. You don’t want any confusion or fights over your estate after your passing. Proper planning (wills, directives, splits, etc.) will clearly lay out what your wishes are.
Philanthropic Tax Planning
You can plan your donations and bequeathment to benefit not only those recipients but also your Estate as well in terms of proper planning for the tax year. There are many loopholes and snags when it comes to donations and the like and it pays to be on top of things.