Tax Strategies

Taxes are a complicated issue, increasing in complexity as your income increases, which can be mitigated or potentially eliminated using proper tax strategies. However, tax strategies aren't always provided by your accountant. Before rushing to judgement, most accountants are not setup to deliver strategic tax planning.
Taxes are a complicated issue, increasing in complexity as your income increases, which can be mitigated or potentially eliminated using proper tax strategies. However, tax strategies aren’t always provided by your accountant. Before rushing to judgement, most accountants are not setup to deliver strategic tax planning. Many accountants are only paid to churn out tax returns. In general, we have found there are two types of accountants:
1) Those who count up the numbers and deliver the news of what you owe at the end. Potentially offering quick ideas like, contribute to a retirement account or some other generic advice.
2) The accountant that digs in and works with your team of advisors to provide strategic advice that could reduce or eliminate your tax liability.
If you do not identify your accountant as the latter, or number 2 above, you should investigate working with Drive Planning. It is possible that you may have outgrown your current accountant or simply aren’t asking the right questions.
Drive Planning is equipped to work with your current accountant or potentially provide you with alternate solutions. Some solutions could be as simple as a new accountant or bookkeeper but may also include additional strategies:
    • Retirement Plan Exit Strategies
    • Premium Finance Strategy
    • Private Reserve Strategy
    • Captive Strategies
    • Accelerated Depreciation of Real Estate
    • Multi-Family Real Estate Moves
    • Tax Free Investing
    • Conservation Easements
    • Oil and Gas Investing
    • Strategic use of Life Insurance
Our team isn’t limited to the list of strategies above but offer them as an example of opportunities which should be offered through proper financial planning. If you haven’t been offered this level of planning we would like to invite you into our office to learn more.