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Service: Second Opinion Tax Diagnosis™

The federal, state and local tax codes are multi-layered and even the best professionals may miss the opportunity to leverage strategies to help relieve your tax burden.

However, the codes offer benefits as well as obligations.

From solving capital gains tax issues to reducing income taxes, there are many sections in the codes that lets you significantly reduce your tax obligation and save thousands of dollars in taxes you will otherwise wastefully pay. Finding these tax remedies is sometimes challenging because they are buried in “lines of code.”  We take the agony out of it by following a simple step-by-step process.

The TaxWealth Second Opinion Tax Diagnosis™ Process

1. An Unbiased Tax Analysis

If you own a business, we will analyze your last three years’ personal and corporate tax returns to identify missed planning opportunities, taxes that are wastefully being paid and pinpoint tax savings that the tax codes verify you are entitled to keep. We would also like to assess your investment portfolio because changes to how you allocate expenses and investments across all assets and operations can also generate tax benefits.

Our Second Opinion Tax Diagnosis™ also includes a complimentary Pre-Sale Tax Analysis™ if you have property, a business or other capital asset to be sold. Property owners selling appreciated real estate or other capital asset will find that their tax obligation is often times much higher than the current 20% capital gains tax rate. It is important to plan ahead because once the escrow closes on the sale, little can be done to mitigate the taxes.

After we receive the information requested, it usually takes a short while to complete our evaluation and report back our findings to you.

Note: As part of our process, it is very important that we evaluate all of the investment properties you own. It is not uncommon to find hidden tax benefits in those properties you plan to keep which can be used to help offset the taxes due on the property you want to sell or use these benefits to capture added tax-advantaged income.

2. Complimentary Benefits Review Notice

After our Analysis is complete, we send you a Benefits Review Notice detailing:

  • The amount of taxes that you have needlessly overpaid.
  • 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 one-on-one meeting to discuss our examination findings in detail.

3. Analysis Review Meeting

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

4. Legal Review Meeting with your other Advisors

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 in-depth due diligence to validate in tax law the chosen solution before you make a commitment. Only after this is done and you are comfortable proceeding, do you approve the drafting of the appropriate legal documentation for implementation.

5. Tax-Saving Program Implementation

With all due diligence completed, we work with your CPA, attorney and other advisors and help facilitate the necessary paperwork to recoup or obtain your tax savings.

A Team-Oriented Planning Approach

This step-by-step collaborative approach has checks and balances in place that protect you from the beginning of the process to its conclusion:

  • TaxWealth identifies and facilitates the tax solutions.
  • Your CPA or accountant, attorney and other tax authorities jointly provide independent tax law validation and structure.
  • If real estate or a business is sold, your professional broker guides the sale of the asset.
  • You reap the tax savings and other benefits.

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

The Good News – You Have Choices

Tax laws exist that 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 Second Opinion Tax Diagnosis™ service. We will give you the knowledge you need to make better informed decisions.

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Are you ready to save more of your client's bottom line by taking a long term view?

Are you a CPA, enrolled agent, or financial advisor?

Are you an attorney or other legal representative?

Are you a real estate or business brokerage agent?

Are you an individual or business owner?

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