Based in Flowood, Mississippi, Capital Preservation Services is a specialized firm bringing together a team of seasoned professionals and advisers. Capital Preservation Services deals with marketing and tax planning using a safe framework and time-proven corporate structures with a goal of ensuring clients benefit from trusted and advanced tax planning guidance.
The ultimate goal of tax planning is to come up with tax strategies aimed at reducing tax liabilities with an aim of saving money. Tax planning entails analyzing a company or individual's financial situation from a tax perspective. To maximize possible tax savings, it is important to put in place efficient tax planning strategies, which should entail the following aspects. 1. Effectively coordinate tax planning activities with all advisors. Many problems arise when there is lack of coordination between the tax, financial, and legal departments of a business or other entity. Without coordinating key advisors, one can unknowingly make financial or legal decisions that lead to an undue tax burden. 2. Create a holistic tax plan that addresses all the highlighted inefficiencies while catering to every financial aspect including investments, business structures, income, retirement plan, and charitable giving. 3. Strategically manage taxes on investments by reallocating highly taxed investments to more tax-friendly accounts that meet the same return objectives. This is advantageous because investment income is often the most heavily taxed segment. 4. Promptly adjust to any current tax law changes, as the tax code often changes on an annual basis. A strategic tax planner should always review the finances of a business in the wake of any tax changes. This can help in maximizing tax savings for the present year as opposed to leaving advisors to try to catch up the following year.
0 Comments
Leave a Reply. |
AuthorCapital Preservation Services - Financial Services Provider Since 2004. ArchivesCategories |