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PERSONAL & BUSINESS TAX PLANNING in BREA, OC CA
The purpose of tax planning is implement financial strategies that minimize your taxes. Effective tax planning will not only lower income taxes with tax deferral and other strategies, but it will also free up cash for property investment, capital business financing, reduce credit card debt, or for other purposes. Effective tax planning should also address potential estate tax issues where appropriate. Gerard W. O'Brien helps clients obtain significant sums of money by creating and implementing strategies designed to reduce the impact of taxes on your estate.
There are three primary ways to reduce your taxes:
- Reduce Your Income
- Increase Your Tax Deductions
- Take Advantage of Tax Credits
Business Tax Planning:
- What is self-employment / business tax? (One who files a Schedule C IRS Tax Form)
- Pay taxes on time to avoid any penalty
- Employ family members to save money (Shift business income to a relative)
- Establish employer-sponsored retirement plan (Keogh Plan, Simplified Employee Pension (SEP), Individual Retirement Account (IRA), 401(k))
- Take advantage of business deductions
- Deduct health care expenses
Personal Tax Planning:
- Postpone income (Defer income until later to reduce current income tax liability)
- Shift income to other family members in lower tax brackets
- Time deductions properly
- Use investment tax planning strategies
- Lower marginal income tax bracket
By following a few simple and legal strategies you can reduce or eliminate:
- State & Federal Income Tax
- Property Tax
- Corporate & Business Tax
- Capital Gains Tax
- Social Security Tax
- Estate Tax
- Death Tax
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PRACTICE AREAS
ESTATE PLANNING | Reduce Estate Tax, Create Successor Trustee or Beneficiary, Protect Your Family & Assets, Reduce Family Disharmony. Important documents: Power of Attorney for Health Care, HIPAA Declaration, and Living Will.
POWER OF ATTORNEY | General, Limited, Durable, Springing, Financial, Medical
PROBATE & TRUSTS | Orange County, CA, Probate Administration, Trust Fund Attorney.
BUSINESS PLANNING | Develop Systematic Process to Increase Revenue, Decrease Costs and Protect Assets
RETIREMENT PLANNING | Qualified Planner, Employee Benefits, Pensions, Protect Business Assets.
ASSET PROTECTION ATTORNEY | Legal Asset Protection Attorney Services for Living Trust, Family Limited Partnership, LLC & Lawsuit Protection.
TAX PLANNING | Personal & Business Tax Planning for Retirement & Deferred Tax Plans.
CHARITABLE TRUSTS & GIFT PLANNING | Legal Plannning for Giving Donations to Trusts, Foundations & Non-Profit Organizations.
PRIVATE FOUNDATIONS | Creating a Charitable Trust, 501c3 Tax Exempt Status
OTHER LINKS
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Gerard W. O'Brien - Tax Planning Attorney in Orange County including: Anaheim & Anaheim Hills, Brea, Buena Park, Cypress, Fountain Valley, Fullerton, Garden Grove, La Habra, La Palma, Los Alamitos, Orange, Placentia, Seal Beach, Stanton, Tustin, Villa Park, Westminter, Yorba Linda and other cities in Orange County, CA.
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