AAs taxpayers, we have a responsibility to pay our fair share of taxes. However, the Internal Revenue Code (IRC) contains thousands of pages of tax-saving opportunities that most of us, including many of our CPAs, simply don’t know exist or how best to implement them. In conjunction with our elite Tax Planning Team, Life Planning, Inc. in Scottsdale can help high-income earners and high-net-worth individuals and families reduce the burdens of taxation, legally and effectively.

Selling Your Business

When your business becomes so successful that it is time to sell, you want to get a fair price. Not only that, but if you are unable to carry the load of being a business owner alone, you may need the support of a Life Planning associate to help you understand how to sell your business without losing any of your potential profits. There are times that you need to know exactly how the structure of your business affects your exit plan out of the company and how it can affect your bottom line.

Tax mitigation strategies are essential to successfully selling your business or shares of your company to stockholders. If you need a cohesive strategy to lessen your tax burden that involves your assets, plan to discuss the details of your business plan to create a tactic that reduces your overall tax burden.

Tax mitigation strategies

Selling Highly Appreciated Assets

Your highly appreciated assets make up an impressive financial portfolio that can include a variety of investments including stocks, real estate, trusts, and other capital investments.

Rely on these three tips for selling highly appreciated assets:

1. Establish a Budget

It is important to call upon professional tax mitigation strategies in order to avoid the “snowball effect.” Over time, capital gains deferral can accumulate causing a type of “snowball” effect. All of that can be avoided by gradually and steadily absorbing the related taxes.
Ideally, you want to maintain capital gains and avoid related taxes, making the most out of your tax planning. Use the tax mitigation strategies of a professional tax consultant to reduce capital gains tax and make the most of your budget.

2. Strategize

Strategic selling is a type of approach commonly used by investors to avoid missing out on an opportunity for growth. The set-up requires that you talk to a financial advisor and agree on the strategy as a plan for gradual positioning. Decide on a calendar schedule to secure your strategy.

3. Donate

Your lifestyle during retirement may require you to set aside a budget early in life. You may also want to create a charitable remainder trust to help you avoid taxes altogether. If done correctly, a charitable remainder trust needs experienced legal advice and is also irrevocable.

Buying Commercial Real Estate

Commercial real estate requires that you establish financing, and then conduct your due diligence to secure all of your assets. You may need to find a lender, conduct a property inspection, contact an insurance agent, review disclosures, and prepare detailed income, and expense analysis. However, the task of buying commercial real estate is oftentimes daunting. You do not have to take on the task of commercial real estate buying alone. Learning about commercial real estate is easier when you do your homework and consider the many opportunities you have within the current marketplace.

Reach out to Life Planning Inc. and talk to our advocate today. The free consultation is a simple and easy way to put your mind at ease during estate planning.

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