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Tax Planning
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While the federal income tax rules are now more complicated than ever, the benefits of good tax planning are more valuable than ever before. We go beyond tax compliance and proactively recommend tax planning and tax saving strategies that permit you to do what you want while reducing your tax bill along the way.
Phenomenal Tax & Accounting Services, LLC is committed to providing you the highest quality service and will work with you to help navigate through the complexities of financial and tax planning, new and changing tax laws, estate planning and business succession issues.

Our Accountants approach each situation with experience, intelligence and independent judgment.

Our individual and business clients pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at year end.

As a new client, you will immediately benefit from following Tax Planning & Analysis:

  1. Due Diligence Review of your prior year Tax Return

  2. Tax Refund Claims if an error was made on your prior year Tax Return

  3. Tax Optimization

We recommend Tax Saving Strategies that help you:

  • Reduce taxes on your investments so you can grow your wealth faster.

  • Defer or avoid income so you can keep your money now and pay taxes later probably at a lower rate.

  • Maximize deductions against your income so you keep more of what you made.

  • Minimize the effect of the AMT on this year’s tax liability.

  • Maximize tax savings by taking advantage of available tax credits.

  • Minimize the Medicare Contribution Tax on net investment income.

  • Avoid penalties for underpayment of estimated taxes.

  • Increase availability of cash for investment, business, or personal needs by deferring your tax liability.

  • Manage your cash flow by projecting when tax payments will be required.

  • Maximize the amount of money you will have available to fund your children’s education as well as your retirement.

  • Reduce taxes on your gifts so you can give more.

  • Reduce taxes on your retirement distributions so you can enjoy your golden years.

  • Reduce taxes on your estate so your family keeps more of your wealth.

  • Willful Penalty

​Here’s a few of the Tax Saving Strategies we use:

  • Splitting income among family members or legal entities to get more of the income taxed in lower tax bracket.

  • Shifting income or expenses from one year to another in order to achieve reduced effective tax rate.

  • Deferring tax liabilities through certain investment choices such as retirement plans.

  • Using certain investments to produce income that is tax exempt from either federal or state.

  • Finding tax deductions by paying for things you enjoy, such as a vacation home.

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