Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency, with the elements of the financial plan working together in the most tax-efficient manner possible. Tax planning is an important part of a financial plan, as reducing tax liability and maximizing eligibility to contribute to retirement plans are both crucial for success.
Tax planning is something we keep an eye out for our clients as we do their work. Unlike other firms we will not wait for you to ask us if any tax efficiencies can be achieved, instead we become your proactive accountants by highlighting those efficiencies to you and where possible advising you as soon as possible to get those implemented.