Tax Planning

It is our job to see that you pay no more tax than the law requires.

We monitor the changes in the tax law that could affect you and recommend tax saving strategies. We will prepare all of your tax returns and serve as your advocate in all tax matters.

If you are contacted by any government agency concerning your tax matters, your first call should be to us. We will take care of it so that you can get on with your business.

There is a certain mystique that has grown up around tax planning and tax-cutting techniques. We are here to put tax planning in plain English for you.

There are actually several basic tax-cutting strategies, and most plans involve one or a combination of them:

  • Splitting income among several family members or legal entities in order to get more of the income taxed in lower brackets.
  • Shifting income from one year to another in order to have it fall where it will be taxed at the lower rate.
  • Shifting deductions from one year to another to place them where the tax benefit will be greater.
  • Deferring tax liability through certain investment choices and through pension plan contributions.
  • Structuring your affairs to obtain a tax deduction for some expenses paid for things you enjoy - a vacation home, for example
  • Investing your money to produce income that is exempt from either federal or state income tax, or both.

Call us for a no-charge initial conference. We will discuss your financial and tax situation and determine how we can help you.

What are your chances of being audited by the IRS?

Tax Credit and Grants

Over the years, we have saved our client’s hundreds of thousands of dollars in taxes by identifying and utilizing areas of the tax code sometimes missed by many tax and financial advisors. Some of the unique and often eligible tax benefits we employ for our clients include well designed retirement plans such as defined benefit and cash balance plans, 401k solo and companywide 401k/profit sharing plans, application of ROTH IRAs when the opportunity exists, non-deductible IRAs, and ROTH Conversions.

We also will take advantage of Donor Advised Funds in conjunction with a ROTH conversion and highly appreciated assets. This approach helps to avoid capital gain, get a tax deduction for charitable giving and potentially take advantage of a ROTH conversion to reduce lifetime taxes.

If you’re thinking of selling your business we can help to maximize the sale in the most tax efficient way. We will evaluate and consider maximizing the opportunity to net you the most after tax dollars either realized today or over time. We may implement strategies such as a Charitable Remainder Trust or installment sale techniques to take advantage of tax deferral and long term capital gain rates.

The last strategy and often miss understood are tax credits and grants offered by the federal and state governments to promote and spur your business. Some of these special tax opportunities and incentives include:

R&D Tax Credit - A state and federal tax credit for making new or improved products, processes, techniques, formulas, designs, inventions and software.
• Industries that qualify:
o Manufacturing (Heavy to Light) o Engineering o Architecture o Construction o Hi-Tech
o Life Sciences/Biotech/Medical/Pharmaceutical o Agriculture o Food & Beverage o Software Design
o Software Implementation (Any Industry) o Testing Labs
o Many Others (Just ask us if you are unsure about the industry)
• Saves US business more than $12Billion annually!

California Competes Tax Credit - The California Competes tax credit is for growing California businesses. Businesses expecting to increase headcount and/or make a capital investment in California qualify for the credit.
• Industries that qualify:
o Any Industry
• Businesses compete for these tax credits 3 times per year (January, April, July) by asking for a percentage return on investment.
• $200M available in the 2017-2018 fiscal year

California ETP Training Grants - Money for existing formal and informal training a business offers its employees.
• Industries that qualify:
o Any Industry
• Compensation is up to $26 per hour regardless if an employee makes that much.
• $90M available in 2017 fiscal year

Tax Preparation

PUTMANGROUP provides a full range of tax services which include the following:

  • Preparation of federal, multi-state and local income tax returns
  • Individual and corporate tax planning
  • Representation during examination of returns by the Internal Revenue Service and other taxing agencies
  • Estate and retirement planning advice
  • Tax compliance advice
  • Structuring of entities for future tax benefits and succession planning
  • Property tax administration and representation
  • Sales tax administration and representation

Our firm's tax department has the knowledge and expertise to meet your tax needs. We are fully versed in the recent changes in the tax law and are prepared to put our expertise to work for you. We can help you review your current tax situation and find ways to minimize your tax burden.

Sales Tax Preparation

We prepare all sales tax registrations and filings in most states. PUTMANGROUP also offers full sales tax audit representation.

IRS and Government Agency Representation

Without a doubt, a very stressful experience to endure, and certainly not something you should enter into without the benefit of our expert tax advisory.

At PUTMANGROUP, we will assist you, and provide you with professional representation for all technical tax issues, penalty assessments and negotiations to resolve payment of tax deficiencies. We are experienced in dealing with all taxing authorities, not just the IRS.

We can make sure that you understand exactly what's going on and see to it that you are properly and fairly represented.  Even if we didn't prepare your returns, just give us a call.