Bellevue Tax Planning Attorneys
Developing Strategies to Make You Tax Efficient
Jerimy Kirschner & Associates, our legal team includes tax planning attorneys who are highly-experienced
in creating tax plans that minimize your tax liability. Whether you are
an individual seeking to minimize personal income taxes, estate taxes,
or other taxes or a business owner or manager in charge of your company’s
tax matters, we provide knowledgeable, effective, and efficient service.
We can analyze your financial situation or current
estate plan to determine if everything is working to put you or your company at the
lowest liability possible under the law.
As an individual, smart tax planning should be taken into consideration
in your overall financial management. When you decrease your tax liability,
it allows you to maximize your contributions into other vital areas, such
as investments or retirement plans. As a business, tax planning is also
crucial to ensure that you are in compliance with the law while minimizing
taxes so as to be more financially viable. Our firm understands how to
review your individual situation to help you make the smartest decisions
when it comes to minimizing taxes or to help you resolve any local, state,
or federal tax-related matters.
Let us help you create practical strategies for proper tax planning.
Contact Jerimy Kirschner & Associates, PLLC at
(206) 203-8802 for a free consultation about your situation.
Tax Planning Services in Bellevue
Taxes are not generally happy subject for any of us. In fact, taxes can
be frightening. No one wants to find themselves suddenly facing a large
tax bill that could have been avoided if proper steps were taken. This
is the essence of tax planning, whether for an individual or a business.
Many people and companies shy away from the subject of tax planning but
preparing ahead of time with an appropriate plan can wind up saving you
money and stress in the long run.
Depending on whether you are an individual or a business, tax planning
will be done in various ways. Basically, however, it involves using strategies
to postpone or reduce your taxes. This can be done with the help of a
legal professional who understands tax laws and provisions and which ones
may be advantageous to your unique needs. Using these laws to your benefit
can then allow for better tax deductions and credits. This amounts to
a thoughtful and precise use of the legal breaks that are authorized by
the IRS. This may sound fundamental but it requires knowledgeable research,
thought, and implementation ahead of time. Overall, tax planning involves
figuring out how to pay your taxes in a manner that is most advantageous to you.
What to Expect When Tax Planning
Tax planning starts with a thorough analysis of your finances. This forms
the foundation for creating a plan that will work for you whether you
are a business or an individual. As an individual, tax planning can reduce
your taxes by saving through a retirement plan, such as a traditional
IRA or through a 401(k) plan. Taxes can also be reduced through using
investment losses that can offset capital gains.
Corporate or business tax planning starts by taking account your overall
income, expenditures, investments, and your filing status. Many considerations
can be reviewed to reduce tax liability from investing in infrastructure,
selling off products or assets that have never sold, using Section 1031
of the Internal Revenue Code for property exchanges, and more. Your tax
planning professional can review all available options to help you take
advantage of those that apply to your business situation.