Identify tax-saving opportunities.
Understand strategies that may be available based on your income, business, investments, and goals.
Tax Planning
Plan ahead with strategies designed to reduce your taxes.
Don't wait until tax season to start thinking about taxes.
Good tax planning happens before the year is over and while you still have time to make decisions.
I work with business owners, individuals, and real estate investors to understand their complete tax and financial picture, identify planning opportunities, and develop strategies designed to reduce taxes while supporting their broader financial goals.
When you work with my firm, you work directly with me.
Evan O'Brien, CPA, MBA · Former Bank CFO & Chief Investment Officer · 13 Years in Finance
Tax planning may make sense when:
You're paying a lot in taxes.
Rather than simply accepting the number on your tax return, you want to understand whether there are legitimate planning opportunities available to you.
Your business or income has grown.
As your income increases, decisions around entity structure, compensation, retirement plans, investments, deductions, and timing can have a meaningful tax impact.
You're making an important business or investment decision.
Buying or selling a business, purchasing real estate, acquiring equipment, changing your entity structure, or making a significant investment can create tax consequences. Planning beforehand gives you the opportunity to understand those consequences before making the decision.
You own or are considering investment real estate.
Real estate creates its own planning opportunities involving depreciation, cost segregation, entity structure, passive activity rules, and the timing of acquisitions and dispositions.
You want to be proactive instead of finding out what you owe at tax time.
Tax preparation tells you what happened. Tax planning looks ahead and helps you determine what you can still do about it.
A written tax plan built around your financial picture.
Tax planning isn't about finding a single deduction or using every strategy available. It's about determining which opportunities make sense for your specific situation.
I look at your income, business, investments, existing tax structure, and financial goals to identify strategies worth evaluating.
Understand the potential impact.
Where practical, I estimate the potential tax savings so you can understand whether a strategy is worth pursuing.
Understand the tradeoffs.
A strategy shouldn't be implemented simply because it creates a tax deduction. We'll consider the financial implications, cash requirements, complexity, and other relevant factors.
Know what to do next.
Your plan provides actionable recommendations so you understand what needs to happen and when.
My experience as a bank CFO and Chief Investment Officer shapes how I approach these decisions. I look beyond the tax savings and consider how a strategy fits into your broader financial picture.
From your financial picture to an actionable tax plan.
We discuss your situation.
We'll talk about your income, business, investments, current tax situation, and what you're trying to accomplish.
I review the numbers.
After we agree on the scope of the engagement, I'll request the relevant tax returns, financial statements, and other information needed to understand your situation.
I identify and evaluate opportunities.
I'll analyze potential strategies, estimate their impact where appropriate, and consider how they fit into your broader financial picture.
We review the recommendations together.
I don't want to simply hand you a report. I'll walk you through the strategies, explain the reasoning behind them, and answer your questions.
You receive your written tax plan.
You'll have a clear summary of the recommendations, estimated tax impact where applicable, and the next steps needed to put the strategies into action.
Frequently asked questions
What's the difference between tax planning and tax preparation?
Tax preparation looks backward. It reports the income, deductions, and transactions that have already occurred and determines your tax liability based on those facts.
Tax planning looks forward. We evaluate decisions you may still be able to make and strategies that could affect your future tax liability.
Ideally, the two work together.
When should I consider tax planning?
The best time is generally before you make a major financial decision and while there is still time to act during the tax year.
Tax planning can be particularly valuable when your income increases, your business grows, you purchase or sell real estate, you start or sell a business, or your overall financial situation changes significantly.
Can tax planning help if I don't own a business?
Yes.
Tax planning isn't limited to business owners. Individuals may have planning opportunities related to investments, real estate, retirement, charitable giving, compensation, and other financial decisions.
The opportunities available depend on your specific circumstances.
Will tax planning guarantee that I pay less in taxes?
No. Every situation is different, and tax planning shouldn't be based on a predetermined promise of savings.
My job is to identify legitimate planning opportunities, help you understand their potential financial impact, and recommend strategies that make sense for your circumstances.
What documents will you need?
That depends on your situation, but I typically begin with prior-year tax returns and current financial information.
For business owners, that may include financial statements, payroll information, and entity documents. For investors, I may also need information about properties, investments, or significant transactions.
I'll provide a specific document request based on the scope of your engagement.
How do my business records affect tax planning?
Good tax planning depends on good information.
Accurate, current financial records allow me to better understand your income, expenses, profitability, and expected year-end results. If your books need attention, we can address that through my bookkeeping and accounting services.
Can tax planning include investment real estate?
Absolutely.
Real estate can create significant tax-planning considerations involving depreciation, cost segregation, passive activity rules, entity structure, and the tax consequences of buying or selling property.
Where appropriate, I'll evaluate those issues as part of your broader tax strategy.
