Tax Strategies

Montgomery Tax Planning Services

JL Reyes Accounting & Tax Service, LLC

With every year that passes, the rules that surround tax payments, deductions and refunds appear to become more complex. It can be difficult for individuals and small businesses to know what steps need to be taken to maximize the level of income they can retain while remaining compliant with all the relevant state and federal tax laws. It is all too easy to miss out on deductions and refunds due to the complexity of the tax regulations.

Taking expert advice regarding tax planning is no longer a luxury required only by the very wealthy. An increasing number of individuals businesses could benefit from taking professional advice in relation to tax planning and preparation. By tapping into the professional expertise of the team at JL Reyes Accounting & Tax Service, LLC you could reduce your tax bills and keep more money in your pocket.

Tax Planning for Individuals

You work hard to earn your salary and provide for your family. However, without careful planning, you could find yourself paying more than you need to in tax each year. JL Reyes Accounting & Tax Service, LLC can help you to plan your finances in such a way that you minimize your tax liability while complying with your legal obligations.

Tax planning is about retaining more of your hard-earned cash. If you plan ahead and reduce the amount that you are paying to the IRS each year, you could afford to take a vacation, put a down payment on a car or remodel your home.

The action you need to take to minimize your tax payments need not be complicated. However, it is important to have a thorough understanding of the relevant tax rules. There are a number of simple tax planning strategies that could reduce your tax payments, including:

  • dividing your income between family members;
  • moving income or expenditure from one year to the next;
  • deferring your tax liability through tax efficient investments, such as pensions; and
  • generating tax-free income from certain investments.

We can help you to plan a tax saving strategy that suits your circumstances.

Tax Planning for Businesses

Positive cash flow is vital if your business is to remain healthy. Planning ahead and taking action to keep your tax payments as low as possible can help you to retain as much cash as possible in your business. This, in turn, can reduce your interest payments and enable you to meet your commitments in a timely manner.

It is vital that you do not leave your business tax planning to chance. The result could be higher than necessary tax payments, or even financial penalties for failing to meet your tax obligations. At JL Reyes Accounting & Tax Service, LLC we have extensive experience in supporting businesses with their tax planning and preparation.

Contact us today on (215) 525-2976 to find out how we can help you to maximize your wealth through effective tax planning.

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