The Tax Planning Process

Our tax planning process typically proceeds with the following steps:

 

• Engage in initial situation assessment and fact-finding to determine if significant tax savings opportunities are likely available.

 

• Obtain relevant additional information.

 

• Assess prospect’s situation and develop initial Tax Savings Estimate.

 

• Review the Initial Tax Savings Estimate with client.

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• Client makes decision as to GO or NO-GO.  If NO-GO, the discussion is terminated in a professional manner.  We have found that many NO-GO decisions don’t really mean “No” but rather mean “Not Now”.  If GO, the following steps continue.
   

• Provide engagement letter identifying various responsibilities to client for signature. Arrange for payment of fees.

 

• Finalize the Tax Savings Plan, review with Client and obtain Client approval and buy-in.

 

• Implement the Tax Savings Plan and start reaping the benefits.

 

• Ongoing follow-up to ensure proper engagement implementation and to identify future tax strategies required by a changing client situation.

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