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.

How inflation will affect your 2022 and 2023 tax bills
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation...
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Understanding Virginia’s New Pass-Through Entity Tax
A pass-through entity is any entity in which the income and losses from operations pass through the entity level and down to the partners or members who are ultimately taxed...
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Tax Tips: November/December 2022
Should you file a joint return when your spouse dies? When a spouse dies, the surviving spouse must determine whether to file joint or separate tax returns for that year....
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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.