Whether you’re an individual or business owner, every financial transaction has the potential to affect your tax strategy. In addition, different types of taxation, from federal to state and local, can make it challenging. Therefore, tax planning is key to successfully and legally reducing your tax liability.

 

MN Accounting & Consulting Services makes it a priority to constantly enhance our mastery of the current tax law, complex tax code, and new tax regulations. Our tax strategy, planning and recommendation ensure that business and individuals pay the lowest amount of taxes allowable by law. Our complete solution goes beyond tax compliance reducing the overall tax burden and foresee a successful financial future.

 

Our services include but no limited to:

 

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

• Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.

• Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.

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

• Finding tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.