New York Tax Planning

New Yorkers know change is a way of life. You must be prepared for any financial event that comes your way. Whether it’s a rapidly expanding business or pending bankruptcy, the chance to sell a great investment or trying to dispose of the ones that don’t go as expected, receiving a great sum of money or suddenly confronted with a lawsuit – IRS and New York tax planning can be utilized to your overall advantage.

Few decisions are more sensitive than planning what will happen to your assets upon your own retirement or death. The timing of retirement and other distributions can have a material impact on your IRS and New York tax planning, as well as tax impact on your heirs. When it comes to estate planning, we recognize that trying to do the right thing for everyone often leads to conflict between all the people & interests you care about. Gary Kaplan will work with your attorney to ensure your wishes and goals are accomplished in the most tax efficient way. He can analyze estate and income tax aspects of wills, the use of various trusts, charitable planning, the use of life insurance and other available tools as part of your IRS and New York tax planning.

New York and IRS tax planning includes a blueprint for deferring income and/or accelerating deductions. The goal is to minimize overall tax liability and maximize the time value of money. Many current provisions such as low capital gains tax rates, the high estate exclusion & low rates for estate taxes are scheduled to expire at the end of 2012. The next few years will likely produce significant tax legislation; strategizing when there might be a major shift in tax policy will require the use of trustworthy expertise. Gary Kaplan devotes an exceptional part of his practice on new regulations, their effect on your situation, and what adjustments you may need to make on your comprehensive tax planning for the IRS and New York.

We provide a FREE initial consultation to every client. Give us a call at 1 (866) 643-3560 or fill out our FREE consultation form. We will contact you within 24 hours.