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PHONE: (561) 453-1441
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PHONE: (561) 453-1441
Request an Intro
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Case Study

How we used our LTax review and tax planning consultation process to help a dentist and his family reduce their taxes.

Subject

An engagement where a family took advantage of our
complimentary LTax analysis and tax planning consultation for tax
planning strategies.

Objectives

  • Conduct an analysis of previous year’s tax returns (individual/joint, trust and entity)

  • Provide observations and recommendations regarding potential impact of proposed regulatory changes. Areas covered:

    • Federal and Oregon State Income Tax

    • Estate Tax Planning

    • Retirement Related Tax Considerations

Results

  • Capital gain tax mitigation: Opportunity Zone Investment - (1) Defer previously recognized capital gains, (2) Benefit from permanent exclusion of taxable income on new gains (10-year hold) generated from investment in Opportunity Zone Fund.

  • Capital gain tax mitigation: Tax mapping capital losses to offset large capital gains.

  • Maximizing itemized deductions: Charitable giving - increase charitable contributions based upon The Coronavirus Aid, Relief and Economic Security Act (CARES Act). Itemized deductions for cash contributions were increased to 100% of adjusted gross income for 2020.

  • Reducing estate tax exposure: Gifting ownership interest in private investment into irrevocable trust.

  • Planning: Roth IRA Conversion: Recommended recharacterization of a portion of traditional individual retirement accounts based upon projected 2020 marginal tax rates.

Click here to view final tax planning consultation.

LTax is a boutique tax firm emphasizing personalization, communication, and
initiative-taking responsiveness.

We take a consulting approach to tax preparation and planning, ensuring regular client communication and a personalized understanding of our clients’ needs. We tirelessly research tax mitigation strategies and develop actionable recommendations for the benefit of our clients.

 
Our Solutions
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Adam Raschke, JD

Director, Tax Practice Lead

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Schedule your complimentary 30 minute discovery call so our team can learn about your goals and how we might be able to help. Prefer a phone call? Call us at (561) 453-1441.

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