Tax Services – Tax Planning

Tax planning is a broad concept used to describe the process of identifying, selecting, and implementing tax strategies to meet objectives within the context of the client’s long-term goals.  In general, the tax planning process involves these steps:

  • Identify the client’s long-term goals,
  • Understand their current situation and unique circumstances,
  • Work together to identify opportunities,
  • Present options and potential tax strategies,
  • Implement selected strategies, and
  • Consistently monitor implemented strategies in light of evolving circumstances

Planning requires active involvement of accountant and client, as changes in circumstances oftentimes require prompt modifications to tax strategies.  Effective communication of changes and there effect to originally planned outcomes must be made in a timely manner.