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Tax Planning

Maximize income with tax planning strategies

Tax planning is the key to successfully and legally reducing your tax liability. Chandler & Knowles CPAs goes beyond tax compliance and proactively recommends tax planning strategies to maximize your after-tax income. Our online CPAs make it a priority to enhance their mastery of the current tax law, complex tax code, and new tax regulations by obtaining countless hours of training on the ever-changing and complex tax laws. With shifts in the economy, technology and legislation, it’s become more challenging than ever to navigate toward financial opportunity. Through our tax planning advice and advanced strategies, we help you maximize your income and your assets today and for the future. We offer individual tax planning services as well as business tax planning services nationwide.

“Avoidance of tax is not a criminal offense. All taxpayers have the right to reduce, avoid or minimize their taxes by legitimate means.” IRS manual sec

What Is Tax Planning?

Tax planning involves structuring your financial situation in the most beneficial, legal manner to maximize profit and reduce your tax liability. Tax planning takes the effects of all provisions of the tax code into account, whether for family tax planning or business tax planning, and charts the most beneficial path for your particular situation. In today's complex environment, planning for the tax effects of your personal and business decisions isn't an option, it's a necessity. 

Chandler & Knowles CPAs can help you chart your most effective financial course. Tax planning can involve:

  • Timing on sales
  • Utilizing trusts
  • Setting up retirement plans
  • Reviewing your business filing status
  • Investment strategies, and numerous other aspects of your daily personal or business transactions. 

We use extensive financial modeling to test and forecast the impact of any financial decision that affects you. By consultation and utilization of these models, we help you make the most advantageous business tax planning or family tax planning decisions. 

Why Is It Important?

We're all obligated to pay the taxes we owe. But planning to minimize taxes and maximize profits is legal and desirable. As you undoubtedly know, the tax code is complex, for both family tax planning and business tax planning. In business, specialization permits you to offer your clients considerable expertise and knowledge gained in a particular area. It would be impossible and impractical to gain expertise in every type of business activity. The same principle applies to your tax situation. We've spent years becoming experts in the pertinent IRS tax regulations so you don't have to. Our job is to reduce, avoid, or minimize your taxes by all legitimate means, as the IRS allows, and we're among the best in the world at that. Proper tax planning can help you keep your hard-won profits.

More on why tax planning is important

Some of Our Advanced Tax Strategies:

  • Tax-Free Retirement Plans -- As one never knows what the tax rate will be at their time of retirement, it is critical to try to limit taxation on retirement funds. Both Roth IRAs and some insurance plans can limit your taxable retirement income.
    Learn more about our Tax-Free Retirement Planning Services
  • Financial Modeling -- With financial modeling we can test and verify ideas, strategies, or products to see if they are in our your best interest prior to making those financial decisions. With the models we are able to see all our financial products and strategies at once on one page. Understanding the impact of our decisions, we can create measurable strategies to reduce taxes while also building, protecting, and growing our wealth.    
    • Our financial modeling service is designed to help you:
      • Forward thinking tax planning
      • Understand how your financial products work
      • Learn how to coordinate your products
      • Measure performance
      • Compare financial decisions
      • Eliminate financial errors and omissions
  • Estate Planning -- Estate planning gives you the opportunity to pass your wealth on as you see fit. Your estate includes everything from your car and home to life insurance and bank accounts, and estates and inheritances unfortunately also mean taxes. Advisors at Chandler & Knowles help you to pass on your estate with as little taxation as possible by avoiding tax traps and properly managing life insurance and other assets.
    Learn more about our Estate Planning Services
  • Irrevocable Trusts -- Through irrevocable trusts, assets are transferred into the trust for later ownership by the beneficiary, and the grantor’s ownership is completely removed from these assets.  Irrevocable trusts can include life insurance policies, cash, investments, businesses and more.  The main benefits of these types of trusts are elimination of estate tax on assets inside the trust, asset protection, and avoidance of "dis-inheritance".
    Learn more about our Irrevocable Trust Services
  • Captive Insurance Companies -- A captive insurance company – which is an insurance company affiliated with an operating business entity -- is typically formed to provide insurance to the business as a supplement to its commercial coverage. For more than 50 years, large U.S. corporations have utilized captive insurance companies to obtain better rates on reinsurance, to allow coverage of risks not easily available (or not available) at a reasonable price on the commercial market, or to replace commercial insurance coverage. It has been estimated that at least 80% of Fortune 500 companies operate one or more captive insurance companies. One of the successful results of captives has been the reduced loss ratios experienced by the businesses as a result of improved risk management practices. When a business manager realizes that fewer losses translate into an improved bottom line for the corporate group, better risk management tends to follow. In the case of commercial policies with few claims and losses experienced over many years, the benefit of substituting captive policies is not so much a further reduction of losses as the capturing of underwriting profits that would otherwise have been paid to the commercial insurer. Large captives have also enjoyed income tax benefits, primarily through the deferral achieved by the creation of loss reserves.

Learn more about our Captive Insurance Management Services


Within our complicated taxation system, there are many ways to be taxed on sales, income and investments, and at the same time, there are multiple ways to avoid or minimize taxation. For example, selling a property that has significantly appreciated before you are married instead of waiting until afterwards can cost you tens of thousands in avoidable taxes. Leaving your IRA to your estate instead of another person can result in a chunk of your hard-earned money going to fees, debts and taxes. When these affairs are managed with advanced tax planning in mind, the difference in financial results is significant.

Smart management of your liquid assets (stocks, bonds and accounts), life insurance and fixed assets is necessary to maximize your wealth. Our tax planning services help you manage your current assets and plan for your retirement and your estate with minimal tax liabilities.

Schedule a Tax Planning Session

Speak with a Professional CPA Today

Contact us by filling out our form or calling 817-430-3000, or you can visit our Flower Mound CPAs. Don’t lose any part of your wealth to taxation that you don’t have to give up. We offer a variety of tax and accounting services nationwide.

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Client Testimonials:

"I recommend Chandler & Knowles CPA's without hesitation, and we look forward to working with Rochelle, Kristy and the rest of the C&K staff for another 7 years and beyond!"

~ Tony Rex, CEO of Medical Experts of Texas, P.A./Premier Inpatient Management Services, LLC

They are a great company to trust with all of your tax needs. They are good people and I enjoy my relationship with them. And it truly is a relationship, not just a service I use once a year.

~ Rick Schenck, UPS Business Owner

Great people. Effective. Efficient. Competent. Unlikely you would find a better, or even equal, CPA firm in the DFW Metroplex, and likely in the State.

~ Todd Benton

"The staff at Chandler & Knowles CPAs could not be better! They are always friendly, accommodating, and efficient. Their quick return/response time is greatly appreciated, as customer service is an uncommon practice during this day and time."

~ Tracy Richards

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