Tax Planning

Tax Planning for Individuals in Southeastern MichiganFrom the college student to retired worker, tax planning is critical. A brief phone call to your Padgett professional annually could mean saving hundreds, even thousands in taxes when your return is completed.

We can help you answer the following questions:

  • How much should I put into my IRA? What should I do with my 401K?
  • Have I put enough estimated taxes in?
  • I don’t want to owe anything come April 15th. How much should I have withheld?
  • I need to take out a student loan for my college student. Whose name should it go in?
  • My 18 year old works but I provide more than 50% of his living expense. Should I claim him as a dependent or should he claim himself? Does it make any difference?
  • Are tax-exempt investments, such as municipal bonds of benefit for me?
  • My financial planner says I should take out an annuity? How do I benefit tax-wise with such an investment?
  • Should I donate my long-term appreciated securities this year or cash?
  • My employer offers HSA’s. Is this something I can benefit from tax-wise and should I take part in it?
  • Should I buy a home? I would have to sell securities and take a capital gain. Is it beneficial for me to do this?

The #1 question we receive each year from clients is “How can I reduce my taxes?” With decades of experience we can come up with the answer. We also have available to us, the best tax planning software to assist us.

It will not take long for you to find out why our clients return year after year…

For tax planning assistance and advice, contact Jack at 586-323-2360.

How can we help with your tax planning?

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