Tax Planning Services in Huntington Beach CA
Tax planning is arguably the most underutilized strategy for saving money and building wealth. It's a game we're all forced to play, with rules we don't understand, and the competition are players we would rather just avoid.
It can reduce our tax bill but it requires being proactive, estimating our tax liability before January 1st and taking advantage of legal, tax avoidance, strategies.
For example, a business owner that pays too much towards Social Security and Medicare might consider changing their business structure from a sole proprietorship or LLC to an S-Corporation. After paying themselves a reasonable salary, they can reduce their annual self-employment tax paid on earnings.
Our tax planning strategies are designed to comply with tax law, while maximizing tax savings.
Employee Withholding & Payroll Adjustments
Understanding employee withholding is essential for both business owners and employees. Withholding the correct amount ensures compliance with federal and state payroll tax requirements while avoiding underpayment penalties.
This service includes:
Scenario Tax Returns
Creating a scenario-based tax return is a powerful tool for understanding the tax implications of different financial situations. Income tax has multiple moving parts, and some areas are often overlooked while others are overestimated. This process eliminates errors by considering all factors and providing a comprehensive look at potential tax outcomes before filing.
This tool is especially useful for:
Amending past-year tax returns
Estimating taxes for the current year Preventing tax surprises at the end of the yearTax Research & Compliance
Tax laws change frequently, and understanding how new regulations impact your financial situation is critical. Our tax research services analyze evolving tax laws and help individuals and businesses stay compliant with federal and state requirements.
What You’ll Take Away
This is an advisory service focused on one specific area of tax planning. You will gain a clear understanding of your selected topic, whether it’s managing estimated tax payments, adjusting employee withholdings, preparing a scenario-based tax return, or improving tax compliance.
The session will provide expert guidance and outline actionable steps to help you make informed tax decisions.