Expert Tax Planning Services | Lakeline Tax

Looking for expert tax planning insights to minimize your taxes? Many people feel like their tax bill is too high. You probably do too. The good news is that it doesn’t have to be like this. At Lakeline Tax, we can put together a strategy that helps you save taxes you owe.

Objectives of Tax Planning

Financial Soundness
The best tax planning of an individual or a business is the ultimate testament to its monetary stability and accounting profits.

Avoiding Tax Audits
Appropriate tax planning certainly assists in avoiding IRS tax litigations, audits, and notices.

Minimize Tax Burden
Tax planning undoubtedly lets you take advantage of the legally available tax benefits, exemptions, and deductions. In addition, it helps to organize the business operations as per their tax decisions. As a result, it saves the maximum capital amount from being included in the tax liabilities.

Profitable Investment
Tax planning helps minimize tax liabilities and transfer the tax savings to a profitable channel.  Consequently, this assists in smart investments with optimum utilization of the available resources.

Three Types of Tax Planning

Purposive: Indicates the planning of taxes with a specific aim.

Permissive: Performed as per the regulations of the nation’s taxation laws.

Long-Range and Short-Range: Generally done for retirement and is conceptualized at the beginning (short-term) and end (long-term) of a financial year.

Our Approach

Proactive Positioning to Minimize Tax Liability

Taxes often create fear and confusion – not to mention unwelcome financial surprises — but they don’t have to. When you partner with our tax experts, you receive key information and insights that help you avoid surprises, capitalize on saving opportunities, and leverage the tax code to achieve professional and personal long-term financial goals.

Tax Solutions Tailored to Fit Your Needs

Everyone wants to achieve their goals efficiently while complying with all applicable tax laws.  Our Enrolled Agents’ industry-leading experience addresses a wide range of tax concerns, delivering comprehensive tax services to support individuals, businesses, and nonprofit organizations.

Who needs Tax Planning?

Privately Held Businesses

Nurturing your privately held business is your passion — one that requires years of effort and commitment. We share that passion and work tirelessly to help you fulfill your business and personal goals at each stage of the business cycle, from startup to exit strategies. Whether it’s planning for compliance or analyzing the tax implications of expanding to a new state, we’re here to help you throughout your journey.

Real Estate

Investing in real estate requires the right information to be successful. Without it, unforeseen tax consequences can limit or even eliminate anticipated gains and impact your portfolio performance. You need an experienced tax expert who can help you realize your portfolio’s potential and minimize risk in all your real estate activities.

Private Client Financial Advisors

Affluent individuals and families bring a truly unique set of tax challenges and planning goals. Working collaboratively with you and your existing advisors, our experienced tax professionals help you craft and implement a comprehensive, fully customized, and integrated tax strategy. From estate planning and wealth transfer to tax compliance and refunds, we offer the expertise and commitment to outstanding service that high-net-worth clients both expect and deserve.

Nonprofit Organizations

Nonprofits, from private schools to social service organizations, trust Lakeline Tax for customized, cost-efficient tax and advisory services that allow them to focus on advancing their mission. Our Enrolled Agents takes the worry out of your day-to-day operations, addressing unrelated business income or other potential tax concerns that may create unaddressed risks that could threaten the organization’s existence.

Our tax planning services include…

  • Considering the Tax Benefits of Incorporating – entity formation (LLC, S-Corp, C-Corp)
  • Consultations to Help Lower Your Effective Tax Rate – We do this by accelerating deductions and deferring income.
  • Reducing your taxes so you can keep more of what you make.
  • Investment Goals – These can be helpful to you by calculating what investments you need in order to maximize and boost your investment returns. While they help make the most of your finances, they decrease the risks you’re taking and ensure that you meet your goals.
  • Savings For Retirement – Most people value their retirement. Lakeline Tax Services takes that into consideration and evaluates your assets and sources of income. After doing this, we find the best advice on how to save the most for you in your retirement stage.
  • Protection – You never know when a tragedy is going to strike, and making sure that you have enough money saved in case of an emergency is important. Looking over insurance coverage, any disability you may have, and your health benefits, will help you determine what you need to save, and how to make the most of your savings.
  • Passing On Your Savings – Our goal is to increase the financial worth of your estate. We do this by looking into what risks we can minimize. We will single out the negative assets, and factor that into maximizing your estate. We save money by cutting down on the amount of estate taxes, lawyers, and creditors you have to pay for, because of the negative outcome it can have.
  • Education – Examining your assets, and giving you strategies on how to avoid shortfalls, is something that Lakeline Tax takes into account. We work to establish a savings plan, provide you with wealth strategies, and help you save so that you’re able to pay for education costs.

Our Tax Planning Strategies

Lakeline Tax is dedicated to helping you make the most of your financial goals. By using the right tax strategies, we can help you reduce any forthcoming taxes. We want to make sure you make the most of your investments and get you on the right track to saving your money. Let us help you invest in a better future.

To value your time and our time, we charge a small fee for the tax planning consultation appointment which will be adjusted towards the final invoice.

Our Strategies:
  • Making contributions to a deductible retirement plan.
  • Planning for stock options.
  • Deferring income tax liabilities.
  • Maximizing health savings account (HSA) contributions.
  • Making charitable donations.

To minimize your taxes you need a plan. You need concepts and strategies that leave more on your bottom line, without raising “red flags” or straying into “gray areas.” To learn more about tax planning strategies, click here.

Most accountants do a fine job recording history – the history you give them! They compile monthly, quarterly, and annual books and records. At tax time, they put the “right” numbers in the right boxes on the right forms and file them by the right deadlines. But then they call it a day. It doesn’t matter how good your current accountant is with a stack of receipts on April 15. If you haven’t planned right, by April 15 it’s just too late. At tax time, your books tell your accountant how much in taxes you owe. You scramble for more receipts and more deductions. But by tax time, it’s usually too late to do anything more. Is that all you really want?

Proactive tax planning is the key to managing small business tax liabilities including savings plans such as 529 college savings plans or a Roth IRA to reduce and defer future taxes. Additionally, we work with all investment types such as HSAs, 403(b)s, IRAs, and 401(k)s to ensure you pay the lowest taxes possible while still enjoying the benefits that come with investing. Start planning your tax strategy today by working with our highly experienced tax planning professionals.

When you become our client, you are paying for a tax planning service that will pay you back. Most of our clients experience tax burden relief, as well as time saved and peace of mind. Our fees are often paid back through the reduced tax liability you will enjoy as part of our planning and legitimate tax savings strategies.

tax planning

Tax planning is the legal procedure of diminishing tax liabilities by optimally utilizing tax rebates, deductions, and benefits. It assists taxpayers in properly planning their annual budget and gaining maximum retirement savings. It has three types: short and long-range, permissive, and purposive.

As a high net-worth individual or a business owner, you have an incredible amount of tax-saving strategies available to you, but many financial, insurance, and estate planning professionals don’t take advantage of strategies that could save their clients a ton of money.  The truth is that they usually only use the more basic ones.

By working with a tax planning advisor and an Enrolled agent specializes in tax planning and tax resolution for high-earning business owners, you can increase your savings, avoid costly errors or omissions and optimize your return on investment.

Tax planning is important because it confirms savings on taxes that, in turn, financially strengthen taxpayers and help them easily pass on their inheritance to their beneficiaries. Additionally, it offers numerous advantages such as decreased litigation, lesser tax burden, assured national economic growth, and increased productivity. This lets them build their finances and level up their fiscal stature.

Tax planning is a legal approach to acquiring tax savings. The process is legalized as long as the taxpayers don’t intentionally choose tax avoidance or evasion. Moreover, this may include investment in long-term debt vehicles like municipal bonds, ELSS, mutual funds, PPF, etc. All of our tax strategies are court-tested and IRS approved to save you tax. We will not recommend a strategy that we do not feel comfortable defending in an audit.

Tax preparation is a service that helps you file your tax returns. The main goal is to make sure your tax reporting complies with both federal and state tax laws. Tax planning is a service that helps you optimize your tax situation before reporting.

For new businesses, implementing the right tax strategy at the outset can make all the difference in profitability later on, so we create short and long-term tax plans that encourage sustainable profitability and growth. We at Lakeline Tax are trained to be compliance experts on tax laws. However, many advanced tax planning strategies require a deep understanding of other financial planning topics such as investment planning, employment benefits optimization, insurance planning, retirement planning, business planning, and estate planning. We will review your current structure and recommend any changes needed to increase profits. No matter what stage your business is in, we’ll be sure it’s positioned to take advantage of all tax deductions allowed under state and federal law. We watch for any revisions to tax legislation that might benefit our clients and make sure they take advantage of the savings they deserve. We guide our clients through tax planning and preparation decisions
with strategies that minimize tax liabilities, maximize cash flow, and keep track of financial goals.

Our expertise, experience, analysis, and thorough research allow us to optimize financial opportunities within the scope of the current tax laws.

Discover how Lakeline Tax can find significant tax savings for you and/or your business. 

  • Increase Wealth
  • Reduce Tax Liability
  • Eliminate Surprises
  • Achieve Financial Independence

Expertise: Our Certified Enrolled agents with over 25 years of experience and have resolved several complex tax issues with 100% success rate.
Our Enrolled Agents, equipped with profound insights into tax laws and IRS intricacies, have earned their stripes by consistently delivering favorable outcomes.

Authoritativeness: Acknowledged by the IRS and fortified with industry accolades, Lakeline Tax embodies authority in the realm of tax resolution. We remain vigilant in keeping abreast of the ever-evolving tax landscape to provide spot-on counsel.

Trustworthiness: Our sterling reputation is the byproduct of countless satisfied clients who’ve benefitted from our transparent and dependable service. We pledge to maintain this integrity in every interaction.

We constantly update our knowledge and keep ourselves current with the latest tax laws and develop new techniques to save our clients the most money on their taxes. Click here to check the Credentials and Qualifications for Tax preparation experts.

Lakeline Tax provides tax preparation services for everyone including Individual Tax PreparationBusiness Tax Preparation, Self-Employed Tax Preparation, Partnership & Corporate Taxes, Bookkeeping, and Tax Resolution, serving Austin, Cedar Park, Leander, Liberty Hill, and surrounding cities, along with all 50 states. We utilize QuickBooks and are certified QuickBooks ProAdvisors. Get more done with us.