Income Taxes

We employ a number of techniques to reduce the otherwise taxable income of an individual or other type of taxpayer. Some of these are forms of techniques in common usage, e.g., retirement plans, but with sophisticated modifications. A few of these techniques are quite unusual and only available in selected situations. For example, a 38 year-old might be able to contribute $40,000 to a conventional defined benefit plan, and a 61 year-old might be able to contribute $150,000. With special techniques those deductions can be increased to $150,000 and $600,000, respectively (or even more).

Timing is critical in planning to reduce ordinary income taxes. Unfortunately, too many people wait to consult with us until the last three months of the year. We strongly advise you to talk to us about your potential planning at the beginning of the year.

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