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Asking for a Second Opinion Unlocks Great Tax Benefits

By TaxWealth -

Our U.S. Tax Code is complex and multi-layered, with federal, state and local statutes competing to take their share of your hard-earned income and capital gains.

But, not every line of the code springs another tax on you. In fact, from solving capital gains tax issues to reducing income taxes, there is much in the tax codes that lets you significantly reduce your tax obligation.

Finding these tax remedies doesn’t have to be hard. Take some of the agony out of it by following a simple step-by-step process. Here is my suggested approach if you have appreciated assets you are ready to sell:

  1. An Unbiased Tax Analysis About the Sale of Your Appreciated Asset

If you are selling a capital asset like real estate or a business, you must gain a very clear view of the tax problem that will be triggered before you sell. Once the escrow closes on the sale, little can be done to mitigate the taxes.

Search out a qualified tax planner who offers complimentary, comprehensive analyses for each asset you would like to sell. Why is this important?  Property owners selling appreciated property are often surprised to learn that their IRS tax obligation may be higher than the current 20% capital gains tax rate. Without a well-crafted exit strategy in place, much more than 20% of their expected profit may be taken in capital gains, depreciation recapture and other federal and state taxes.

At TaxWealth® we eliminate these concerns by implementing a proven, unbiased and objective process. We offer a step-by-step approach to tax freedom that starts with a complimentary Pre-Sale Tax Analysis & Money Flow Projection for each property to be sold. As part of our analysis process, we investigate, identify and fully explain the most viable tax-planning options available in law to solve the tax problem and conserve greater profit and income for the seller to enjoy. Once we receive the information requested, it usually takes just a few days to complete our evaluation and report back our findings.

Note: As part of our process, it is very important that we evaluate all of your properties. Hidden tax benefits can be found in the properties you plan to keep that we can use to help offset the taxes due on the property you want to sell.

 2. Benefits Review Notice

After each analysis is complete, we send you a Benefits Review Notice detailing:

  • The projected taxes you would have to pay if you sold without a tax plan in place
  • The range of tax and income benefits available to you which are supported by tax law

You can then decide if you would like to meet with us for a free one-on-one meeting to discuss our examination findings in detail.

3. Free Analysis Review Meeting

We will thoroughly review your analysis with you so that you understand all your tax planning options and how each impacts you and your family.  You can choose which planning approach makes the most sense for you to solve the tax issues and provides the greatest peace of mind.

4. Legal Review Meeting

Once you choose a tax planning method to implement, the next step is to meet with your CPA and/or attorney to review the solution(s).  We will give them a clear understanding of these planning methods so that they can do independent in-depth due diligence to validate in tax law the chosen solution before you make a commitment. You should take all the time you need to be certain that the proposed solution(s) can stand up to IRS scrutiny. Only after this is done and you are comfortable proceeding, should you authorize the drafting of the appropriate legal documentation for implementation.

A Team-Oriented Planning Approach

The step-by-step approach outlined here has checks and balances in place that protect you from the beginning of the process through to its conclusion:

  • The tax-planning strategist identifies and facilitates the tax solutions.
  • Tax attorneys and your CPA or accountant jointly provide tax law validation and structure.
  • If real estate or a business is sold, your professional broker guides the sale of the asset.

All team members are dedicated to maximizing your profit and income.

The Good News: You Have Choices

Taxes can dramatically reduce your ability to successfully meet your financial objectives. But, you have choices. The tax laws let you pay less in capital gains and income taxes, create greater tax-advantaged income, and use these new assets for any purpose you think best. You just need to understand your real options. Take advantage of our Pre-Sale Tax Analysis & Money Flow Projection™ to identify solutions when you want to sell real estate, a business or other capital asset. We will give you the knowledge you need to make better informed decisions.


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