Tax Planning Services
Today the tax code works on you.
Let’s make it work for you.
Navigate the US tax code, including international and real estate taxation with seasoned real estate certified public accountants.
Diana Tang, CPA, MBT
Tax Planning Advisory
Things have changed…
The pandemic accelerated everything, from government borrowing to early retirements.
Tax laws and tax regulations have been increasing at an alarming rate over the past few years.
The USA will need to fill budget gaps. And municipalities are hunting for new taxes and fees, too.
Not to mention, countries around the world are starved for funds and will seek out new ways to tax your international income.
The IRS’s funding has jumped. States and cities will follow. They’re going to look for taxpayers who aren't bulletproof.
“Municipal, state, federal, it doesn’t matter how many levels there are. There’s still only one level of taxpayer.”
Individuals seeking tax preparation services or tax advice from tax professionals typically approach an accounting firm way too late in the tax cycle. Typically, prospective clients to an accounting firm look for ways to minimize their tax liability after the year end has closed. We strongly recommend a year-round approach to working with a tax advisor to ensure that whether you’re considering taking advantage of credits for your business or structuring your investments in stocks or local property, you are prepared to have the Internal Revenue Code work for you.
What we know about the 2020s
Taxes will increase.
Reporting complexity and compliance will ramp up.
Municipalities will be starved for funds and will tack on taxes and fees to stay afloat.
Labor laws will tip the scale further in favor of employees. Expect even more risk and the need to improve your documentation and paperwork.
Real estate ownership and international tax compliance will require more risk management. Governments will respond with more price controls and complexity.
Tax Planning & Advisory
First, our tax advisors identify your specific opportunities to save on taxes and preserve your wealth with a thoroughly explained strategy, including (where appropriate):
A tax efficiency analysis
An income shifting opportunity
Real estate tax strategies
Change in tax jurisdictions (or an opportunity to leverage international taxation in another country)
Change in entity type
Second, one of our tax professionals will also help you identify ways to maximize exemptions and deductions based on prior tax returns which will minimize tax liabilities in future years.
Third, we continue to work with you throughout the year to ensure you receive the right amount of time needed to address your evolving financial needs and so you can experience the benefit of our expertise in taxation when you need it most, not when it’s too late.
The value you realize in working with Advise RE
The value of the shortcut is in some cases immeasurable, but there is no question as to its existence. The value you receive from our information is clarity and understanding. Whether you are new to real estate investing, need estate planning or understanding trusts, or would like a better understanding of the rental properties or international taxation, we’re here to provide you that shortcut with our extensive experience.
Clarity
Risk Reduction
Accidental non-compliance could undo your newfound gains. Some examples include:
Not filing your Report of Foreign Bank and Financial Accounts “FBAR” ($10,000 penalty)
Not completing a Information Return of a 25% Foreign-Owned US Corporation “Form 5472” ($25,000 penalty)
Misclassifying employees as contractors ($10,000 minimum and realistically much, much more)
Not audit proofing your records to withstand an IRS or state tax audit ($10,000-$100,000)
No financial or oversight controls in place over payment processing ($20,000-$500,000)
We help clients stay on top of the regulatory environment, preserving your tax and investment earnings.
By implementing a risk reduction strategy, you can sleep well at night knowing that your money is protected.