Tax Planning Services
Tencap’s tax planning and strategy services are committed to providing tailored solutions that go beyond traditional tax preparation. We focus on creating a personalized tax strategy designed to meet your unique financial goals while seamlessly aligning with your life’s purpose.
By understanding your priorities, aspirations, and long-term objectives, we deliver strategic guidance that optimizes your financial outcomes and empowers you to make confident, purpose-driven decisions. With Tencap, your financial success is not just about numbers—it’s about creating a meaningful and fulfilling future
Why Should You Consider Tax Planning
in Salt Lake City
Tax planning services help you minimize your tax burden while staying compliant with the law. Expert guidance can uncover deductions, credits, and strategies that save you money, leaving you with more resources to invest in your future. Effective tax planning means keeping more of what you earn.
Tencap has a team of tax strategists all over the country that help us bring high-level tax planning to our clients. Tencap does not mix words – we believe Americans high income earners are paying way too much in Federal Taxes! As one examines the amount of income lost to taxes on your last dollars earned, it’s staggering and debilitating. We want to pay what is required of us, but not one dollar more!
How Tencap Can Help You With Tax Strategy
At Tencap, we specialize in comprehensive tax strategy tailored to your unique needs.
- We boast a nationwide team of highly skilled tax strategists.
- We believe effective tax planning goes hand in
hand with smart business entity structuring; both
are essential. - We know a CPA is crucial, but achieving excellence in tax planning requires the expertise of a tax strategist.
- We understand the tax code is complex, but within it lies opportunity. We didn’t create it, but we know how to navigate it.
Tencaps Strategic Tax Planning Process
# 1 : Initial Review
We review your return to identify any uncaptured opportunities, ensuring we only move forward if we can demonstrate clear value.
# 2 : Coaching
We identify uncaptured opportunities, guide you on what is needed, and coach you on on what is needed and how to “fill the prescription” our tax team writes.
# 3 : Displaying results
We create a proforma that shows how your return will look after implementing the recommended changes.
# 4 : Flexibility
We don’t just review this with you once. We provide ongoing support for business entity planning and adapt tax strategies to help you navigate your constantly changing financial needs and goals.
# 5 : Focusing on the big picture
We regularly review and adjust your plans, increase savings where possible, and shift focus to other priorities as your retirement savings goals evolve. Sometimes our business owners, doctors and executives need to focus on other areas and come back to saving.
Talk With Our Advisors in Tax Planning
Ready to take the next step? Contact us today and let’s make your vision a reality!
Meet with our team to discuss tax planning. We are extremely proud of the intelligent yet ethical way our team navigates the area of tax planning.
We can maintain integrity and showcase intelligence when it comes to tax planning. Our assertion and opinion is this is best done by having a great CPA that can lead out with filing the return and reviewing compliance and having a professional review your tax return from a tax strategy lens. In our opinion, to create excellence in this space, you need both!
FAQs
What is the purpose of tax strategy?
A tax strategy aims to minimize taxes—plain and simple. CPA’s are heavily trained in tax compliance; there is nothing wrong with that, we all want to file a tax compliant tax return! However, you can take advantage of hundreds of tax incentives and deductions AND still file a tax compliant return! In other words, you need both! Our team of tax strategists focus on strategic and intentional tax planning. We can use your CPA to help assemble the tax return with these strategies, or we can introduce you to a CPA that can complete the work – that’s your call. But we unabashedly suggest that you need a professional to assemble and file a tax return, AND you need someone tactical and professional to help you build out tax strategies!
How does tax planning work?
Tax planning involves reviewing and analyzing your income, expenses, and financial goals to formulate strategies that reduce your tax burden. By leveraging deductions, credits, exemptions, and income and expense timing, your potential liabilities turn into tax savings. How is this done? Hundreds of different ways! Remember, the tax code is longer than the bible! It’s astonishing how complex the tax code is. We did not create this complexity, but we do pride ourselves in leveraging this complexity! What that means is we can absolutely deploy and utilize the rules that the IRS has authored to ethically reduce your tax bill! This is done in a number of different ways, but let me sight a few examples: Financial modeling for tax credit projects, inflation reduction act credits and incentives, fixed asset study, opportunity zones, cost segregation studies, renewable energy and utilities, pension plans, R&D tax credits, section 179D deductions, WOTC tax credits. Just to name a few!
What does tax planning usually achieve?
The right tax planning strategy reduces tax liabilities, maximizes available credits and deductions, and ensures compliance with tax laws. It also helps individual and business taxpayers improve their overall financial efficiency, including their ability to save for retirement and other wealth-building opportunities.
What is Tencap’s tax planning approach?
Tencap utilizes proactive, tailored solutions to tax planning. After your initial consultation, we go over your tax returns with a fine-tooth comb to ensure that you’re taking advantage of every possible opportunity to minimize your tax burden. As financial advisors in Utah, we have an in-depth understanding of IRS rules and policies that can help you identify federal opportunities as well as region-specific strategies.
How much should I expect to pay for tax planning services?
Regardless of your situation, Tencap can help you with your tax planning. We are happy to offer some coaching on the various ways we structure compensation. Tencap adheres to a fee-based structure, meaning you pay for our expertise, not for products or commissions. This approach ensures that our advice is always in your best interest.
Tax planning costs vary based on the size and complexity of your business, but with our transparent, fee-based model, you’ll know what exactly you’re paying for.