fbpx

Tax Planning Services

We understand you have a lot on your plate. Keeping up to date on the latest changes to the highly-complex Internal Revenue Tax Code can be challenging and time-consuming. However, when you partner with the accountants at MB Group, you don’t have to! You’ll enjoy a knowledgeable team of allies proactively working all year long to help you create your tax plan.

 

tax servicesWhat Is Tax Planning?

 

In short, the main goal of tax planning is to maximize tax efficiency through reducing your overall tax liability. Implementing a tax planning strategy can be helpful and beneficial in a variety of ways to individuals as well as businesses. These strategies are a piece of a larger financial plan, and help navigate the tax implications of major decisions—whether they be personal or professional.

Individual Tax Planning

Tax planning is important for individuals as well. Much like businesses, individuals can benefit from implementing tax planning strategies to reduce their tax liability. We believe preserving your hard-earned money should always be a priority. There are many routes and strategies individuals can take advantage of when it comes to tax planning such as:

 

    • retirement accounts
    • trusts
    • estate planning

Strategies centered on investments, children, education and retirement can significantly reduce your personal income tax liability. Through strategies such as these to avoid or postpone taxes, you will be able to have more money to save, invest, or spend. This is a strategic way for anyone to make sure they’re being as prepared and organized as possible when it comes to their money.

business tax planningBusiness Tax Planning

Regardless of your industry, location, or size, every business can benefit from strategic tax planning. While some business owners may attempt to plan and prepare their taxes personally, this regularly results in money being left on the table.

 

Because the Internal Revenue Tax Code is very complex and changes regularly, it makes dollars and sense to have a dedicated team of professionals working to strategize and optimize your tax planning. Partnering with MB Group for strategic tax planning can help you and your business and eliminate your worry. 

 

Instead of waiting until tax season, tax planning is a proactive process where we help arrange your business affairs to either avoid or postpone taxes. Because every business is different, each tailored tax planning strategy can yield a different set of benefits. In either case, some of the most common benefits of strategic tax planning include:

 

    • reducing your tax rate
    • lowering the amount of taxable income
    • optimizing the use of tax credits
    • strategically managing when taxes are paid
    • managing the effects of the Alternative Minimum T

Aligning Tax Planning and Financial Planning

 

Tax planning is an important part of a larger financial picture. Financial planning helps you to achieve your overall goals in the long term as well as the short term. Taxes are undoubtedly a big expense item, so making sure you have an adequate focus and strategy in place in order to minimize that tax burden is an essential part of your financial planning goals. 

 

Taxes are often complex, and any misstep has the ability to cause an individual or business to pay more in taxes than they need to. This situation is entirely avoidable through proper planning means. When making important financial decisions with taxes in mind, you have the potential to save a lot of money that can be used in other ways.

 

The team at The MB Group is ready to create a long term strategy to help minimize your tax liability. Schedule your appointment online or call today.

Schedule A Meeting

Additional Resources:

five year end tax strategies
cpa vs tax preparer
tax prep tips