Financial Solutions

Tax planning is a different service than tax preparation service. Tax preparation is for historical transactions and activities, while tax planning is for future transactions and activities. Tax planning is one of the most important factors in increasing a business or an individual’s wealth. Tax planning is a process in which the tax payer, a business or an individual evaluates the tax impact prior to making a decision. For an individual, examples range from 401K retirement savings to whether the individual should install a natural gas energy system or install solar panel in their primary residence. For a business, it may be the timing of their capital expenditure and whether there are any allowable tax credits available for a specific year.

Many individuals and small business neglect tax planning all together, even though it is one of the most important wealth building activity tax payers should engage in. If you or your business want to increase wealth and cash flow, get in touch with us here at the NSR team and we can help you with your planning.