Tax Planning

Tax Planning for California Businesses and Individuals

Poor business decisions and poor financial advice can often result in unanticipated tax consequences. Before making a costly mistake, you should consult with a legal tax advisor or a financial planner like the financial advisor's at Blosser Harrison Wealth Management. Our financial planners, and financial planner Andrew Kerr. We are not accountants or CPA's however, we are proficient in tax concepts, we stay abreast on current tax planning techniques that will reduce your tax liability. Tax law changes constantly so we're constantly educating ourselves on IRS and legislative changes, like the new Tax Reform act passed by President Trump.

If your starting a new business or have an existing business, our Financial Advisor's can determine which tax strategy, retirement plan and business structure will bring the highest tax savings now and down the road.

Income tax planning doesnt have to be hard, it just takes a little patience and sound financial planning and together and even with your CPA or accountant we can help navigate you or your business so you can reduce taxes and keep more of your had earned money.

Featured Tax Planning Services

Succession Planning

There are many questions involved in business succession planning. Will your family retain ownership of the business? Will you transition ownership to a key employee? Our Advisors will work collectively with your legal team or CPA to help you consider these options ahead of time and develop the proper plan that's in line with your personal priorities.

 

Estate Planning

No matter what stage of you're life, its never too early to consider the financial future of you and your family. The Financial Advisors at Blosser Harrison offer comprehensive estate tax planning to help you understand the potential impact your networth could have on your family. Our advisors will work with you to formulate a multi generational tax plan, wealth preservation plan, life insurance plan (if needed) and wealth accumulation plan. Our goal is lining up your potential tax liability with the right approach so your loved ones are not burdened with taxes if a death were to occur.

 

Featured Tax Planning Services

We offer a variety of tax planning services to both businesses and indivuals. Continuous tax planning throughout the year can save you money and make tax time easier. Our goal is to help you develop a plan, review the plan with our CPA or accountant and implement your plan. From there and each year we will review your planning strategy and adjust as needed.

 

401(k) and Retirement Plans

401(k) Plans offer your business the opportunity to reduce your tax liability for you and your employees through matching employer contributions and profit share contributions. Blosser Harrison's 401(k) platform is a full service solution that includes plan administration, 5500 filings and asset management. In addition to 401(k) plans, SEP IRA's, SIMPLE Plans and traditional IRA's are another great way to defer taxation.

 

RMD Planning

Required Minimum Distributions (RMD's) are required for anyone with an IRA and is over 70.5 or anyone who inherited a non spousal IRA from someone who was over 70.5.

Our Fresno Financial Advisors work with many clients who are beneficiaries of retirement accounts from parents or loved ones. Each year you must withdraw a certain portion of those funds. A miscalculation can result in penalties of 50% of the required amount. A professional like the Advisors at Blosser Harrison can help you manage this aspect of your inheritance and help you avoid penalty.

 

Self Directed IRA Tax Planning

If you are interested in purchasing real estate, a private business or precious metals or other alternative assets through your IRA. The professional Financial Advisors at Blosser Harrison can help you calculate and analyse the tax benefits of self directing an IRA, Solo 401(k) or SEP IRA including a ROTH IRA or ROTH 401(k). Understanding the cash flows of your future investment is important to the big picture. Let us help you plan your tax and income strategy for your investment.