Take the time to plan ahead and there’s a very good chance you can reduce your tax liability! As a Peoples Tax client, we’ll gladly meet with you during the year, free of charge. During this meeting, we’ll help you find proactive tax saving strategies and solutions that enable you to maximize your after-tax income, and help you pay the least amount of legitimate tax owed.
As the sister company to The Income Tax School, we’re always up-to-date with current tax law, and have a pulse on any and all tax regulations coming down the pipe. Don’t put off a meeting with us…it could mean the difference between a tax refund and owing the IRS this coming year!
The importance of proactive tax planning is often overlooked by individual taxpayers. This is particularly true of middle class taxpayers who often think that tax planning is only important for “rich” people and thus not something they need to be concerned about. Nothing could be further from the truth. The income tax laws both federal and state greatly impact the everyday life of each of us. Almost everyone experiences at least one life change each year that will impact his or her personal tax situation. From getting your first job to getting married, taxpayers need to consider these changes when they occur (or before) rather than after-the-fact at their annual tax appointment.
One of the benefits of being a Peoples Tax client is that we are available year-round to answer your tax questions at no additional charge. We encourage our clients to take advantage of this service in order to plan for the tax implications of events that occur between their annual tax appointments. Our professionals are available to meet with you in person or by telephone. You should consult your tax advisor if you experience any of the following:
- Birth of a child
- Purchase or sale of your home
- Purchase of sale of a second home
- Significant change in income, either up or down
- College and other educational expenses
- Retirement and retirement distributions
- Job change
- Major illness
- Loss of health insurance
- Purchase or sale of a business or rental property
- Death of a family member
Each of these situations can impact your personal tax situation. Planning can help you prepare for the inevitable tax consequences of events. By applying traditional tax planning strategies such as income deferral and/or deduction acceleration Peoples Tax can help you pay the correct amount of tax and maximize your after-tax income.