When we talk to our clients about where they spend the most money, most people say things like their house, kids, cars, etc. However, for almost all of our clients, the largest expense that a family has are their taxes. Most advisory firms don’t talk about taxes since they don’t have CPA’s on staff that is comfortable giving the advice. Most CPA firms don’t give financial advice as their expertise is taxation; this is where Redwood Wealth excels. We seamlessly blend tax and wealth management advice together to help reduce a client’s tax burden. Some of the key areas that we assist in include:
- Lowering taxes on investment gains/income – we do this by putting the investments with high tax rates into IRA’s, and tax deferred vehicles. We also use specific investments, like municipals, to reduce federal, state, and health care (Obama care) taxes.
- Corporate Entity selection – we assist our business clients with setting up the correct type of entity, from C-Corporations, S-corporations, LLC, etc.
- Small business owner payroll consulting – we help determine the right amount of payroll a business owner should take to maximize retirement plans and minimize tax issues.
- Tax planning – analyzing stock options, grants, etc. and the tax impact to the client
- Tax Return Review – we review our client tax returns to look for areas of tax mitigation
- Tax Credits – we advise our clients on federal and tax credits that help reduce taxation
- We work with your existing CPA and keep them informed about your tax situation