Making Life Less Taxing
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Advanced Tax Planning Services

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 tax professionals 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.

“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 25.1.1.2.4

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 Chandler & Knowles CPAs by filling out our form or calling 817-430-3000, or you can visit one of our two locations in Flower Mound and Addison, TX. Don’t lose any part of your wealth to taxation that you don’t have to give up.

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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

Related Pages & Posts:

An Overview of the Benefits of Irrevocable Trusts

Mar 16, 2017

When making plans for the future of your estate, and who will benefit from your assets when you are gone, you will have several options available to you. A common option people choose is to establish an irrevocable trust. However, if you are unfamiliar with the complexities of the options you have when estate planning,…

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The Benefits of Estate Planning

Jan 12, 2017

Many people do not consider estate planning either because they believe it is only for the wealthy, or because it is not something they want to consider. While it may not be fun to consider what will happen to your estate after you are gone, there are many reasons to consider estate planning, and many benefits…

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Facts about Irrevocable Trusts

Dec 29, 2016

A trust is an arrangement where the creator of the trust, or settlor, identifies a trustee to manage the assets of the trust for the benefit of one or more people known as the beneficiary or beneficiaries. A trust can be established after death pursuant to a will (known as a testamentary trust) or during…

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Business Owner Retirement Funding: Five Critical Mistakes and How To Avoid Them

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Basic Tax Planning Strategies [Video]

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Learn more about how to save on taxes through these tax planning strategies. Video Transcript: Chad Chandler: There are many strategies around taking itemized versus standard deductions. Can you give us an example of one? Kristina Knowles: Absolutely. One tax planning strategy is to double up on your itemized deductions every other year. This is…

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Investing for Retirement with Life Insurance

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Everyone knows that life insurance is a useful estate planning tool. But did you know there is a living benefit of life insurance that can help fund your retirement? Imagine an insurance policy that not only pays a death benefit to your heirs, but can also be a source tax-advantaged income for you in retirement.…

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Why is Tax Planning Important? [Video]

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Find out why tax planning is vital to your financial health. Video Transcript: Rochelle Chandler: What comes to mind when you hear the term “tax planning”? Does it mean saving your receipts and keeping track of your expenses and income, or is it much more than that? The answer is yes. It is much more…

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How do Tax Brackets Work? [Video]

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Learn more about how tax brackets work, and find out how they can work in your favor. Video Transcript: Chad Chandler: There’s a lot of confusion about what tax brackets really mean. Many people think that if they earn more money, they jump to a higher tax bracket and pay more taxes and then have…

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Advanced Planning Process [Video]

Oct 25, 2016

Learn more about our Advanced Planning Process and how it can benefit your wallet. Video Transcript: We start with our comprehensive checklist that helps you to collect the necessary documents and get organized. Upon receiving them, we input your data into our financial modeling software. This gives us a complete picture of your financial life,…

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Top Retirement Funding Options for Small Business Owners

Oct 13, 2016

As a small business owner, it’s up to you to plan for your retirement’s funding. There’s no employer there for you to fall back on here for business owner retirement funding help. Additionally, if you have employees, you’re also responsible for helping them plan for their retirement as well. With this in mind, here are…

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