Tax Planning

At Cory Franklin & Associates, Inc., we know that proactive and diligent tax planning is critical to minimizing your tax liabilities. When you work with us we make tax planning part of your overall financial strategy and not just something we do at year-end.

You can be confident that our firm is on top of any current new developments pertaining to the ever-changing tax laws. We watch emerging tax developments by reviewing proposed legislation and regulations, new laws, and IRS rulings. We communicate with you about how these changes might affect your business matters and overall tax liabilities. Our advice is always up-to-date. We offer practical, proactive, and innovative solutions to tax planning that put your business or personal needs first. We provide our individual and business clients with the tax expertise and knowledge they deserve year round.

We consult with you on the best plans and strategies for operating in an efficient and advantageous tax manner. We understand the tax implications of proposed transactions and can help you evaluate the most tax efficient methods for managing these transactions.

Additionally, there are several basic tax-cutting strategies that we will consider for your individual and business planning needs, such as:

  • Splitting income among several family members or legal entities.
  • Shifting income from one year to another in order to have it fall where it will be taxed at a lower rate.
  • Shifting deductions from one year to place them where the tax benefit will be greater.
  • Deferring liability through certain investment choices and through pension plan contributions.
  • Helping you choose the correct business entity that will achieve the best overall savings for both income and FICA taxes.
  • Growing and preserving your assets by keeping Uncle Sam out of your pockets.

We encourage you to consult frequently with us during the year so that we may at all times be kept current with your financial matters and estimate potential tax liabilities of your transactions. This will enable us to proactively strategize for purposes of minimizing your overall tax liabilities.

Many clients also prefer periodic income tax and financial meetings that may be quarterly, semi-annually, or annually. The nature and frequency of such tax planning meetings is uniquely tailored to the nature and complexity of the particular client.