Tax Planning

Planning is the key to successfully reducing your tax liability. At Thompson Greenspon, we proactively recommend tax saving strategies to maximize your after-tax income. Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year. We can provide tax saving strategies that grow and preserve assets, defer income and reduce taxes on your income, estate, gifts, investments and retirement distributions.

Strategies we consider include:

  • Shifting income or expenses from one year to another
  • Deferring tax liabilities through multiple investments
  • Restructuring your income
  • Splitting income among several family members or legal entities

“15 years of receiving excellent tax preparation and other financial advice.”

– Frederick N.

TAX PLANNING INSIGHTS
Tax Tips – July/August 2022
HSAs can also be powerful retirement saving tools Health Savings Accounts (HSAs) are designed as tax-advantaged savings vehicles for funding uninsured health care expenses. But for those in relatively good...
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Net Gifts Differ From Standard Gifts
Thanks to the generous federal gift and estate tax exemption ($12.06 million in 2022) and the annual gift tax exemption ($16,000 per recipient in 2022), most gifts are shielded from...
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Managing Capital Gains
The right timing can result in significant tax savings. If you plan to sell capital assets, a little planning can do wonders for your tax bill. Capital assets include a...
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Our specialists are all seasoned professionals who have years of experience working within your industry. Reach out to us today to schedule a consultation.

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