Tax Planning & Preparation
Documents & Legal Services
Below is a list of typical Legal Services that may included in a proposed Tax Plan.
Income Tax Optimization
We provide comprehensive income tax optimization services designed to help clients reduce their taxable income. We assist with identifying and applying eligible deductions, exemptions, and tax credits. Additionally, we offer strategic advice on timing income and expenses to take advantage of favorable tax treatments. Our team also guides clients in leveraging tax-advantaged investments, such as municipal bonds and retirement accounts, to minimize their overall tax liability.
Business Tax Planning
We offer business tax planning services to ensure our clients operate in the most tax-efficient manner. Our attorneys assist in selecting the optimal business structure—such as LLCs, S Corporations, or C Corporations—tailored to your specific needs. We provide expert guidance on maximizing deductions for depreciation, employee benefits, and operational expenses, while ensuring compliance with state, local, and international tax laws.
Retirement and Estate Tax Planning
We offer retirement and estate tax planning to help clients protect their wealth and minimize tax burdens for their beneficiaries. We develop customized strategies that incorporate trusts, charitable contributions, and retirement accounts to optimize tax savings. By aligning tax planning with long-term financial goals, we help clients secure their legacies and achieve their estate planning objectives.
Capital Gains and Investment Tax Planning
Our attorneys offer tailored advice on minimizing capital gains taxes through strategic investment planning. Services include tax-loss harvesting, advising on long-term holding strategies, and planning the timing of asset sales to reduce tax exposure. We also help clients utilize tax-efficient accounts such as Roth IRAs and 529 plans to maximize their financial outcomes.
Annual Tax Filings
Our law firm can assist with filing annual taxes for individuals, businesses, and joint returns by providing expert legal guidance on tax compliance, deductions, and structuring. We can seamlessly collaborate with your existing CPA or financial advisor to encourage a smooth filing process, offering a comprehensive approach that integrates both legal and financial expertise to minimize liabilities and maximize benefits.
Tax Planning for Life Events
We provide specialized tax planning services for significant life events that can impact your financial situation. Whether you are navigating marriage, divorce, parenthood, or inheritance, our firm offers personalized strategies to address these changes. We also assist with planning for education expenses using tax-advantaged accounts like 529 plans and provide advice on minimizing taxes for large gifts or inherited assets.
International Tax Planning
We deliver expert international tax planning services for individuals and businesses involved in cross-border activities. We help clients navigate complex issues such as expatriate taxes, foreign investments, and cross-border income. By leveraging tax treaties and structuring global operations efficiently, we ensure compliance and minimize tax liabilities on an international scale.
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FAQ's
To help promote a timely and accurate 2024 tax filing, please reply by February 3, 2025, to engage our services.
What You Can Expect
- 30-Minute Tax Intake Consultation
- All clients are encouraged to meet for a 30-minute tax intake consultation where we will provide you with a checklist and questionnaire to better assist you in your onboarding process.
- Secure Document Upload
- You’ll receive an invitation to the new Durfee-Drake Tax Portal at securefilepro.com (replacing the previous Practice Panther portal upload) where you can upload your documents safely.
- The portal includes a Comprehensive Organizer to help gather the details we need for maximum deductions. If you need help completing it, contact our paralegal, Kim.
- Flexible Support
- You may complete the Organizer on your own, or
- We can complete it for you at an additional hourly rate—simply let Kim know.
- Transparent Pricing
- Pricing starts at $1,200 and varies by complexity (number of entities, schedules, rush requests, etc.).
- Once we understand your full tax picture, we will provide a clear quote.
- Streamlined Payment
- Payment is due upon completion of your return—before we submit it to the IRS or any state authorities. After payment is received, we’ll submit your return. Done!
- Expert Review & Submission
- Our Tax Team inputs your data, then our attorneys will review and finalize your return.
- You’ll receive a draft for final approval before submission.
Kim will coordinate all activities to keep your process on track.
- Personal & Business Profiles
- We review income sources (W-2, 1099, passive, investments).
- We plan for significant life events: marriage, children, retirement, major purchases.
- For business owners, we focus on corporate structures, income streams, and entity restructuring if needed.
- Staying Current
- New Tax Legislation: We keep you updated on relevant changes.
- Temporary Provisions: Evaluate how carryovers and sunsetting items (e.g., from the TCJA) affect you.
- State-Level Changes: Especially critical for high-tax states.
- Key Focus Areas for 2025
- Income Management: Defer income or accelerate deductions as needed.
- Retirement Planning: Maximize contributions, evaluate Roth conversions in lower-income years.
- Charitable Contributions: Bundle donations or use donor-advised funds for efficiency.
- Tax-Efficient Investments: Use HSAs, 529s, and tax-loss harvesting.
- Estate Planning: Implement trusts, gifting strategies, or intra-family loans to reduce estate tax exposure.
- Depreciation & Amortization: Use Section 179 and bonus depreciation for business purchases.
- Proactive Planning
- Quarterly Reviews: Ensure estimated payments are accurate.
- Tax Credits: Identify and claim R&D, clean energy, or employee retention credits, if applicable.
- Business Structuring: Optimize whether you operate as an LLC, S-Corp, or C-Corp.
- Audit Risk Management: Maintain the right documentation to reduce audit risk.
- Leveraging Technology
- Durfee-Covee Tax Planning Platform: Personal monthly, data-driven tax strategies.
- AI & Machine Learning: Efficient data gathering, thorough insights.
- Cloud-Based Document Management: Streamlined, centralized communication.
- Ongoing Communication & Education
- We’ll share regular updates on new tax laws and strategies.
- We plan educational workshops, webinars, and one-on-one sessions to keep you informed.
We understand that proactive tax planning may feel daunting, but the rewards can be financially significant and exciting for you and your family. And it's not just for high net-worth individuals—it is beneficial for almost all taxpayers. Here are some key benefits:
- Maximize Deductions: Thoughtful planning ensures you take full advantage of available deductions.
- Reduce Taxable Income: Align your income streams with tax-advantaged opportunities.
- Avoid Surprises: Minimize unexpected tax bills by forecasting liabilities.
- Build Wealth: Reinvest savings into your future financial goals.
Our Tax Team is here to guide you every step of the way, helping you achieve these outcomes with ease and confidence.
- Income Management:
- Working within our Planning Platform, we will suggest strategies to defer income or accelerate deductions, depending on the client’s financial projections.
- We will use the Platform to review capital gains and dividend income, advising on asset sales or holding periods.
- Retirement Planning:
- We will help you maximize contributions to retirement accounts (401(k), IRAs, Roth IRAs).
- We may recommend Roth conversions in years of lower income for long-term tax benefits while blending in such recommendations to your growing estate plan, whether you or just starting or having a completed plan.
- Charitable Contributions:
- We will guide you in the use of donor-advised funds for high-income clients to bundle contributions.
- We can help you identify appreciated securities for tax-efficient donations.
- Tax-Efficient Investments:
- Within the platform – we can advise of tax-advantaged accounts like HSAs or 529 plans.
- We can assist you in focusing on tax-loss harvesting to offset gains.
- Estate Planning:
- We can work with you if your estate exceeds the estate tax exemption threshold (e.g., $13.61 million in 2025 or adjusted amounts for inflation).
- We can implement trusts, gifting strategies, or intra-family loans to reduce estate tax exposure.
- Depreciation and Amortization:
- For your business, we can help maximize Section 179 and bonus depreciation rules.
- We can help you analyze asset purchases for accelerated write-offs.
So, what else can we do to help you minimize tax liabilities and increase your wealth for 2025 and beyond? At Durfee Law Group, tax planning is about more than just meeting deadlines—it’s about creating opportunities for you. Most people think about taxes when they are dealing with their filing deadlines. But look - if you plan…you will have a much better outcome, and we are going to give you the tools to do that.
We hope you will consider these tools as year-round planning for positive wealth enhancement opportunities—because that is how we think about them.
This year, we’re excited to introduce our exclusive Durfee-Covee Tax Planning Platform. When you use our Tax Planning Platform, we will help you create a tax plan for the entire 2025 year and beyond. We will give you a detailed strategy to navigate any investments, purchases, and sales. Throughout the year, you can consider “what if” scenarios that let you look at the effect of investments and asset purchases with the goal of giving you:
- Monthly Tax Strategies: Tailored to reduce liabilities and optimize deductions.
- Proactive Insights: Stay ahead with real-time opportunities to save throughout the year.
- Compliance Confidence: Ensure alignment with the latest tax laws and regulations.
- Unmatched Knowledge and Tools
- Our Tax planning with you for 2025 involves strategically analyzing your financial situation and aligning your goals with federal and state tax laws to minimize tax liability and maximize savings.
- As your Tax Team, our tax planning is focused on personalized advice specifically for you. We leverage the latest tax laws and incorporate tools like Durfee—Covee to provide consistent, proactive planning throughout the year.
Start Your Tax Journey Today!
One of our Tax Team Members will respond to your inquiry shortly.