Tax Planning & Preparation

With ever-changing income, gift and estate tax laws, Kreinces & Co.’s tax practice is all about PLANNING – our mantra is “the tax return should follow the planning”. We invest significant time and resources in projecting and planning, throughout the year, what your tax returns will look like at filing time.

Through our approach, we eliminate, or certainly greatly reduce, the risk that you will be surprised when you open your tax returns. The economic advantages our clients realize from such innovative and forward-looking tax planning is clear and measurable:

• The ability to eliminate or reduce estimated tax installment payments where projections indicate that the current year income will be less than that of the prior year
• We prepare tax returns for most states in the U.S. that have an income tax; we can assist you in determining if you have a tax filing or registration obligation in any state
• Where projections indicate that the current year income will be more than that of the prior year, to be informed of a greater than expected tax liability at the earliest possible time – better to be aware of a significant additional tax  payment in November or December than in March or April of the following year. With advance notice, our clients have several months to accumulate the cash required to meet their tax obligations and/or to take steps to mitigate such obligations before the end of the tax year, after which most opportunities to minimize tax are no longer available
• Building on the foundation of effective tax planning, we then prepare your tax returns – federal, state and local income tax returns (including any required self-employment filings); trust and estate income tax returns; gift tax returns
• As we develop an intimate understanding of your personal and/or business finances, we are uniquely positioned to work closely with you and your other advisors to assist you in laying out effective estate and gift planning strategies – ours is a dual focus – minimizing estate and gift tax burden AND structuring your estate to accomplish YOUR goals and objectives with the latter, in our opinion, receiving the top priority
• We file income tax returns for U.S. entities that have foreign owners and can provide guidance on the proper structure of such entities and the related intricate filing requirements