Tax Planning
At Nichols & Company, CPA PC, we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize their tax liabilities, maximize their cash flow, and keep them on track to realize their financial goals. Our expertise, experience, analysis, and thorough research allow us to find and optimize financial opportunities within existing and recently altered tax laws.
Tax Planning & Advice for Individuals
- Alternative Minimum Tax (AMT) analysis & planning (including tax planning strategies related to stock options)
- Capital gains analysis and planning (including explanation of the "wash sale" rule)
- Home ownership analysis & planning (including the tax implications of selling your home)
- Roth Conversions
- Planning for paying for college, including financial aid planning
- IRS and Massachusetts Department of Revenue Representation
- Tax-planning strategies that are possible to implement after year-end
- Estate and gift planning (legacy planning)
- Tax-planning related to a child's income (kiddie tax, gifting, retirement)
- Tax implications & planning for investing in real estate, including buying a multifamily or vacation home.
Tax Planning & Advice for Businesses
- Mergers & Acquisitions
- Compensation Planning
- Retirement Planning
- IRS and Massachusetts Department of Revenue Representation
New Ventures
- Development and/or evaluation of business plans
- Entity planning (S Corp. vs. C Corp. vs. Sole Proprietorship vs. LLC)
- How to minimize employment taxes
- How to evaluate "Employee" versus "Independent Contractor"
- Gift and Estate Taxes
- EFTPS setup
- Development of budgets & forecasts
- Health insurance planning
- Explanation of rules related to maintaining books and records
- Explanation of general rules for deducting expenditures
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