Tax planning is the analysis of a financial situation from a tax perspective. Tax planning is an essential part of a financial plan, it ensures tax efficiency. All elements of the financial plan work together in the most tax-efficient manner possible.
One easy way to maximize your return potential is to minimize taxes. By making tax-smart investment decisions, you can reduce the amount lost toThe IRS each year and keep more of your earnings for current or future needs.Traditional Tax planning was centered round the idea of rearranging financial affairs so you ultimately end up owing as little in taxes as possible. You can do this in three basic ways: You can reduce your income, increase your deductions, and take advantage of tax credits. These options aren’t mutually exclusive. You can do all three for the best possible result.
At Avant Tax, we have broken down the paradigm of Tax Planning in to two major heads:
Advanced Tax Planning:
- We are equipped with advanced training designed to lower your taxes.
- Tax loopholes within the current tax code (legal strategies to lower your tax bill)
- Income shifting and expense shifting strategies
- Passive loss strategies (losses and credits)
- Real estate tax planning
- Investment strategies to lower tax
Hybrid Tax Planning:
Our priority is to enhance the mastery of current tax law, complex tax codes and new tax regulations by attending frequent tax seminars and minimize taxes at each time of the year not just at the end.
- Keep uncertain taxes out of your investment
- Defer income to keep money now and pay less taxes later
- Reduce income taxes
- Reduce taxes on estate
- Reduces taxes on gifts
- Reduce taxes on investments
- Reduce taxes on retirement distributions