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Tax Services
Behind every action is a consequence. In some instances, tax implications can drive an action or decision. Our goal at LFL Veritas is to help you achieve the desired results without the unwanted or unplanned tax consequences. Whether your business is looking to expand a product line, enter a new market, buy an existing business or undertake some other financial strategy we can guide you through the entire transaction to avoid adverse tax consequences. Our tax services include:
Tax Planning
The key to minimizing taxes is proper and timely planning. It is figuring out what to do before you do it, not fixing it later. We understand each transaction has tax consequences. That is why we are part of your advisory team on an ongoing basis, rather than calculating your tax liability after the fact. Some of our tax-planning services include:
- Business & individual tax projections
- Buy vs. lease analyses
- Asset sale analyses
- Choice of entity structure
- Tax allocation planning for business acquisitions & sales
- Coordination with estate, financial & retirement planning
Tax
Preparation & Compliance
Save time and effort and take the worry out of taxes by letting us help you with your returns.
Let our experts in individual, corporate and partnership taxation help you minimize your taxes and meet all your government (federal and state) reporting requirements. We have full electronic filing capabilities. We prepare all returns including:
- Corporate
- Individual
- Partnership & LLC
- Estate & Inheritance
- Fiduciary
- Gift
- Foundation
- Not for profits
Estate
and Gift Planning
Estate planning is not just for the extremely wealthy, but is important for everyone! It is preserving your assets for your heirs. It is about making sure your assets end up where you want them. Some of our estate and gift strategies include:
- Asset distribution arrangements
- Annual gifting programs
- Planning for tax consequences of distributions
- Asset protection plans
Retirement
Planning
We can no longer rely on the certainty of a safety net for our old age. Benefits like Social Security and Pensions are not set in stone, and even if they were, they are not likely to provide for the lifestyle you would like to enjoy with your grandchildren, and hopefully great grandchildren! Add to that the fact that we are all living longer and are dependent on the income we generate, retirement planning is crucial. Some of our retirement-planning services include:
- Pension plan design and administration
- IRA planning
- Contribution/Deduction maximization
- Tax benefits of Corporate & Individual pension plans
- Beneficiary planning
Succession
Planning
Succession planning involves having the right people in the right positions. Different tax characteristics apply depending on whether the right person is a family member or an outside party. For instance, giving part of your business to a family member may trigger gift tax issues. Or handing over a part of your business to an outside party can trigger change in ownership issues. For every owner, there is a related tax issue. We can help you minimize this burden by helping you choose the right person for the job.
Personal
Financial Planning
If you do not know where you want to go, you will never get there. You work hard for your money; let your money work hard for you. If only planning were as simple as tucking away dollars in an IRA, or making a few wise investments in stocks and bonds. Unfortunately, it isn't. Some of our personal financial planning services include:
- Cash flow analyses
- Pension distribution planning
- Review of investment strategies
- Portfolio allocation
- College funding analysis
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