Los Gatos Tax Planning
It is our job to see that you pay no more tax than the law requires.We monitor the changes in the tax law that could affect you and recommend tax saving strategies.
If you are contacted by any government agency concerning your tax matters, your first call should be to us. We will take care of it so that you can get on with your business.
There is a certain mystique that has grown up around tax planning and tax-cutting techniques. We are here to put tax planning in plain English for you.
There are actually several basic tax-cutting strategies, and most plans involve one or a combination of them. In a nutshell, the strategies are:
- Splitting income among several family members or legal entities in order to get more of the income taxed in lower brackets.
- Shifting income from one year to another in order to have it fall where it will be taxed at the lower rate.
- Shifting deductions from one year to another to place them where the tax benefit will be greater.
- Deferring tax liability through certain investment choices and through pension plan contributions.
- Structuring your affairs to obtain a tax deduction for some expenses paid for things you enjoy - a vacation home, for example.
- Investing your money to produce income that is exempt from either federal or state income tax, or both.
Call us to discuss your financial and tax situation and determine how we can help you.
Tax-Cutting Strategies
This article offers many important tax strategies for individuals and homeowners. It also includes a section about investing in real estate.
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The Alternative Minimum Tax
Will it affect you? In your tax planning, don't overlook how your tax-saving strategies might be affected by the alternative minimum tax.
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How to Have a Comfortable Retirement
If you're age 35 or more and haven't made a serious effort to plan for retirement, your dreams of a comfortable and active retirement could turn into the nightmare of being old and poor.
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What is a Health Savings Account (HSA)?
Health Savings Account (HSA) is a special tax-advantaged savings account similar to a traditional Individual Retirement Account (IRA) but designated for medical expenses. An HSA allows you to pay for current covered health care expenses and save for future qualified medical and retiree health care expenses on a tax-favored basis.
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