Tax planning is an important aspect in wealth management, but you do not need to be wealthy in order to benefit from tax planning.  Tax planning can be as basic as avoiding penalties for underpayment of estimated taxes or increasing the probability of receiving a refund rather than owing additional taxes when you file your income tax return.  Year-end tax planning addresses these issues and more.

Although year-end tax planning should be a regular part of your financial management, you may need to seek advice regarding particular financial decisions as they arise during the course of the year.  Obtaining tax planning advice in advance can help you to avoid, delay, or minimize taxes related to the transaction.  Following is a partial list of transactions for which tax planning should be sought :

• Buying or selling a business

• Selling stock

• Exercising stock options

• Selling real estate

• Choosing a form of business entity (sole proprietorship, S-Corp, LLC, etc.)

• Wealth succession (estate tax planning)

• College costs

The adage,' it's easier to ask forgiveness than to ask for permission', rarely, if ever, works well when applied to taxes.

Call today for an appointment at 808-545-7774 or 808-343-0790.