Tax Planning and Implementation

Tax Planning and Implementation

Tax planning refers to the logical analysis of a financial situation with the view of reducing tax liability lawfully and proactively. The tax plan ensures that all elements of the financial plan work together to pay the lowest tax. Through tax planning, individuals ensure they can attain maximum tax efficiency. Reducing tax liability increases the ability to make contributions to retirement plans which are vital for success. Tax planning consists of various considerations. The main considerations include timing of income, size, and timing of purchases. Tax planning is crucial for businesses to help in achieving the set financial goals.

Our primary objective is to minimize a client’s overall tax burden whenever and wherever legally possible. TE WEICKGENANT & ASSOCIATES INC. offers tax preparation and planning to clients for Federal, State and Locality income tax. Other tax areas we specialize in include sales tax, gross receipts tax, franchise tax and more. 

Our tax preparation services are directed primarily toward constructive tax planning beginning early in the year and maintaining close contact with our clients throughout the year. Advanced Planning to minimize future taxes includes advice on tax effects of proposed transactions, corporate reorganization, and assistance in such tax-oriented areas as executive compensation, pension plans and other similar continuing services. We also have experience in providing assistance and advice in negotiations with taxing authorities.

We have developed a large base of tax clients whose size and complexity rival that of firms many times our size. We believe our success is due in large part to an added emphasis on strategic tax planning.