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Business & Tax Planning

Tax Planning

Every family and every business has a silent, costly partner – the government. We can help you plan a strategy for the future and possibly minimize the lifetime impact of income or capital gains taxes. 

For instance, charitable remainder trusts and charitable lead trusts can be very effective ways to defer payment of taxes and fund your current lifestyle, while providing either a current or future benefit to those charities that you choose to support.  We can help you calculate the allowable tax deduction from various charitable gifting strategies.  We can analyze whether it makes sense for you to consider establishing a charitable gift fund or donor advised fund, which under the right circumstances can provide significant tax benefits.

We can also help you invest your funds in a tax efficient manner. For instance, your highest growth assets should optimally be owned inside a Roth IRA, because no income or capital gain taxes will ever be owed on the capital appreciation of the assets held inside a Roth IRA. 

High yielding assets should ideally be owned inside of a traditional IRA, because the ordinary income tax due on interest and non-qualified dividends can be deferred until distributed from the IRA. If possible, taxable accounts - such as Individual, Joint, or Trust accounts - should be used for relatively lower yielding, growth investments. Any capital appreciation of an asset held in a taxable account will be taxed at lower capital gains tax rates.

For our clients older than age 70 1/2, we calculate the annual required minimum distribution from your IRAs. We will prepare the paperwork and see that all distributions are completed prior to the deadlines.

Business Planning

Managing your own business is as challenging as it is rewarding. Allow us to take one issue off of your plate by helping you minimize your tax burden and assist you in providing retirement benefits for your employees. 

Qualified retirement plans offer significant tax benefits to both employers and employees. But the alphabet soup of plans is mind-numbingly complex – SIMPLE IRA, SEP IRA, 403(b)/TSA, 457(b), 401(k), Roth 401(k), Simple 401(k), Individual 401(k), profit-sharing plan, money purchase plan, and defined benefit pension plan. Each of these plans has different minimum and maximum funding requirements. Some require employer contributions, some do not. Each plan has different rules as to which employees must be included. 

With the help of an independent third party administrator, we can help you determine whether a pension or profit-sharing plan, a 401(k) or a SIMPLE IRA, is best for your unique business.


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Securities offered through Purshe Kaplan Sterling Investments, member FINRA/SIPC, Headquartered at 18 Corporate Woods Blvd, Albany, NY, 12211.
NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL.  NOT INSURED BY ANY STATE OR FEDERAL AGENCY.