Expert Tax Planning in St. Petersburg
Tax planning refers to strategies that make your financial processes more efficient with the aim of ultimately paying the lowest tax amount possible. At Raymond Moulton, CPA, our expertise goes beyond the numbers. We craft customized strategies after a thorough analysis of your personal and professional objectives. Our long-term solutions have a proven record of success for both individuals and businesses.
We enjoy serving those living and working in St. Petersburg. If you're looking for trusted tax planning backed by decades of experience, contact us to schedule a consultation today!
Why Tax Planning is Important
Tax planning is essential because it can help your personal and professional financial goals. When you have a sound tax plan in place, it can help reduce your taxable income and tax rate, allowing you to gain more control over your obligations.
These strategies have a variety of benefits when implemented correctly. Our specialists show you more efficient ways of holding your assets and capital, which results in lower taxes on your income, investments, savings, and capital gains. Since tax deductions reduce your overall liability, we'll analyze your finances to determine which ones you can claim.
Benefits of Tax Planning
Professional tax planning can provide long-term benefits for you and your business. You can reduce your tax burden in a natural way while gaining a fresh and informed mindset at the same time. Obtaining a basic understanding of the U.S. tax system, your money, and what happens with it are essential for being able to reduce taxes and save money. Other notable advantages to tax planning include:
Overall, tax planning helps you save time and achieve your financial objectives in a stress-free way. Our specialists initiate solutions after a comprehensive analysis of your needs, not just the financial aspect.
Tax Planning for Life-Changing Events
As certified accountants and tax experts, we're always up to date with the ever-changing tax code. Since we all go through significant life events, it's advisable to have tax planning strategies around them. Are you delaying huge decisions due to financial uncertainties? Not only will our CPAs help you avoid unpleasant surprises, but we'll also show you how to make significant savings on taxes for your business or yourself.
Some of these life events are:
These events will affect your taxes either positively or adversely. We can analyze each unique circumstance and come up with efficient strategies to reduce your tax obligations.
Tax Saving Strategies for Businesses
Having a business comes with various tax benefits. If you actively run your business from home, the IRS allows you to deduct some expenses from business income. Home office deductions will enable you to pay utilities such as the internet, which your business depends on for success.
Another tax-saving strategy is to aim for long-term capital gains since they offer better tax options. Depending on your income level, you might receive a preferential tax rate of up to 20% if you hold an asset for more than a year. The longer you have such investments, the higher the chances of growing your wealth.
Additional tax-saving strategies for businesses may include:
Saving on Individual Taxes
Another tried and tested tax strategy involves contributing to retirement plans. If you can't be part of an employer-sponsored plan, you can still start a traditional individual retirement account (IRA). A health savings account (HSA) is like a 401(k) in the sense that you make pre-tax contributions to the plan.
For you to take maximum advantage of these tax-saving strategies, your finances must be in order. That way, you can accurately file tax returns, as well as prepare for future payments. You also stand better chances of qualifying for and enjoying IRS credits. Our tax specialists are always available to help you make the most effective decision.
Contact Us for Experienced Tax Planning
At Raymond Moulton, CPA, your success is our main concern. Because your finances play a huge role in your overall comfort and happiness, we help you manage them as efficiently as possible. In addition to tax planning, we also provide strategic accounting, tax preparation, and IRS resolution.
We understand that each client is unique, so we don't have a one-size-fits-all approach to accounting and tax problems. Our specialists are understanding, compassionate, and ready to help you improve your financial health. Contact our St. Petersburg firm to schedule a consultation today.