PROVIDING INTEGRATED LIFETIME SOLUTIONS
"Any one may so arrange his affairs that his taxes shall be as low as possible."- Judge Learned Hand
Every year, as taxpayers we all prepare, or have prepared for us, various tax returns. However, tax returns report what has already occurred. Rather than waiting to find out what is on your next return, wouldn't it be better to find out methods by which you can defer, reduce or eliminate taxes ?
Until recently, the federal and state estate taxes played a prominent role in the tax planning process and forced you to think down the road. That role has diminished, however, as a direct result of the increase in the federal estate and gift tax exemption to almost $5.5 million per person AND the "portability" of the unused portion of a deceased spouse's exemption. For the vast majority of you, federal estate is of no concern, although Florida residents who own property in another state or country should be mindful of STATE estate, inheritance taxes that might apply.
You should maintain your forward focus on the potentially disastrous long-term effect of over-paying your state and federal income and capital taxes. Such taxes often have a tremendous impact on your assets and income available for retirement, to take care of your spouse when your gone, and your legacy.
Call us today to find out how effective Tax Planning can be part of your LIFEPLAN.
The NOWAK LAW GROUP has also represented clients before the IRS and Florida Department of Revenue on matters of employment, income, estate and gift taxes at audit, through the IRS Appeals Office and during collection. Don't let a letter from the IRS ruin your day. We can help.
TAX PLANNING/IRS REPRESENTATION