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Are you one of the thousands of people who dread doing their taxes? Do you feel like you’re swimming in a sea of paperwork and complex regulations? Nesso Tax can…

Tax

November 29, 2022

Written by John Wonneberger

Are you one of the thousands of people who dread doing their taxes? Do you feel like you’re swimming in a sea of paperwork and complex regulations? Nesso Tax can help. With over 30 years of experience, our team of tax professionals will take the hassle out of filing your return. 

We’ll work with you to find the best possible solution for your unique situation. We guarantee that you’ll be satisfied with our services. Our professional tax team of CPAs (Chartered Professional Accountants) can work directly with your Accountant to review your recent tax returns and identify potential savings or restructuring opportunities, giving you proactive ideas to save money in the future

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About Nesso Tax Services

At Nesso Tax, we understand how taxes can impact every aspect of your life, which is why our professional team of CPAs works directly with your Accountant to review your most recent tax return and identify potential saving opportunities.

Our main goal is to give you proactive ideas to save money in the future and protect your finances. We want your money and investments to be safe even when you’re not around anymore.

How Does Our Tax Planning Service Work?

Tax planning is more than just filing a tax return. It’s about taking a proactive approach to your finances and ensuring that you’re taking advantage of all available opportunities. Every purchase you make or plan has a tax implication. There are many items on your list that you probably didn’t consider, such as marriage, divorce, business acquisition and sale, education, or retirement.

Our team at Nesso Group helps you understand how certain financial decisions will impact all areas of your life and allow you to develop proactive actions to lessen the financial impact. Tax planning can involve deferring income and accelerating your deductions just before the end of the year

What Can Nesso Tax Assist You With?

Nesso Tax in Connecticut assists with personal, business, estate, and trust tax returns. Let’s go over each one of our services:

Personal Taxes:

The personal income tax is a fee applied to the earnings, like salaries and dividends, that a person accrues over a year. This Tax is usually imposed by the state where the income was earned. However, some states have reciprocity agreements with one or more other states that allow income earned in another state to be taxed in the earner’s state of residency.

No one likes doing their taxes, but it’s a necessary evil. At Nesso Tax, we can take the hassle out of tax season for you. We’ll work with you to ensure that you’re taking advantage of all the deductions and credits you’re entitled to, so you can get the best possible refund.

Business Taxes:

Business taxes are fees imposed on businesses by the government for the privilege of operating in a particular jurisdiction. The Tax is generally based on the business’s income, sales, or both. Businesses are required to remit the Tax to the government periodically, usually quarterly or annually.

Preparing your taxes can be daunting if you’re self-employed or run a small business. Nesso Tax can help you navigate the tax code’s complexities and ensure you’re taking advantage of all the deductions and credits you’re entitled to. We’ll also work with you to develop a tax strategy that minimizes your liability and maximizes your refund.

Estate Taxes:

An estate tax is a fee imposed on property transfer at death. The Tax is generally based on the property’s value, including real estate, stocks, bonds, and other assets. The executor of the estate typically pays estate taxes.

If you’ve recently lost a loved one, the last thing you want to deal with is the hassle of preparing their tax return. Nesso Tax can help ease the burden by taking care of all the details for you. We’ll work with you to ensure that the estate is properly valued and that all the applicable deductions and credits are taken advantage of

Trust Taxes:

A trust is a legal arrangement in which someone (the trustee) holds the property on behalf of another person (the beneficiary). The trust can be created during the grantor’s lifetime (a living trust) or after the grantor’s death (a testamentary trust). Trusts are subject to a variety of taxes, including income tax, estate tax, and gift tax.

Our tax services will help you determine which type of trust is right for your situation and ensure that the trust is properly structured to minimize taxes. We’ll also work with you to prepare the tax return and ensure all the applicable deductions and credits are taken advantage of.

What Do We Help You Plan For?

Planning for efficiency is key when it comes to financial and Tax planning. Our team of expert CPAs can help you plan for the following

Investments:

When it comes to financial investments, there are a lot of options out there. It can be difficult to know where to start or even where to put your money. But whether you’re investing in stocks, bonds, or other assets, we can give you a hand.

First, we help you establish and keep a clear goal in mind. What are you trying to achieve with your investment? Second, we prepare you to be aware of the risks involved. No investment is without risk, but some are riskier than others. Finally, we’ll set up a clear exit strategy. When do you plan on selling your investment, and how will you cash out?

Retirement:

It’s never too early to start planning for retirement. Even if you’re still in your 20s or 30s, it’s important to start saving now to enjoy a comfortable retirement later. There are different ways to save for retirement, such as contributing to a 401k or opening an IRA account. But which approach is right for you? It depends on your circumstances and goals.

Our financial advisors can help you figure out the best way to save for retirement based on your unique situation. Whatever route you choose, remember that the sooner you start saving, the better off you’ll be when retirement finally rolls around.

Business:

Depending on the size and structure of your business, you may be required to pay different types of taxes, such as income tax, sales tax, property tax, payroll tax, and more. And if you’re not careful, it’s easy to get behind on your tax payments or make mistakes that can result in penalties.

The good news is that our CPAs are prepared to help put your business with taxes. Nesso tax professionals offer advice and assistance. We focus on evaluating business structures to optimize the benefits of the Internal Revenue code and ensure that your business stays compliant with tax laws and minimizes its tax liability.

Industry:

As a business owner, you always look for ways to save on taxes. One way to do this is to research tax opportunities in your industry. This may involve taking advantage of tax breaks for businesses engaged in certain activities or operating in certain locations. Our CPAs look into ways to minimize your taxable income by careful planning and record keeping.

We take time to identify tax opportunities in your industry, so you can save yourself a significant amount of money. Plus, you can use these savings to reinvest in your business or take care of other important expenses.

What Do Our Tax Planning Services Include?

At Nesso Tax, we will work together during our tax planning sessions to review ways to:

  • Lower your income taxes
  • Grow and maintain your wealth and assets
  • Reduce taxes on your gifts
  • Reduce your investment taxes
  • Minimize your taxable income, defer your earnings and pay less in taxes later
  • Start retirement planning to be prepared for the future
  • Find and analyze ways to reduce your estate taxes

The process for each taxpayer is unique. It’s tempting to make assumptions and apply the same solution for everyone, but this isn’t the case with Nesso Tax professionals. We strive for the best answer for each client, tailoring a strategy that will work for them.

You will never reap the advantages if you don’t invest time and effort in tax planning and developing a long-term strategy. Ignorance is not bliss; you are losing out on opportunities to save money while investing in yourself and your family. Sit down today with one of our expert accountants at Nesso Group and get started on a successful tax plan for your future.

It’s Never Too Early To Begin Your Tax Planning!

No matter what stage you’re at in your life, it’s never too early to start planning for your taxes. And with Nesso Tax by your side, you can rest assured that your taxes will be in good hands. We offer a wide range of tax services to help individuals, businesses, and trusts minimize their tax liability.

Tax season is over, but that doesn’t mean you can forget your taxes. In fact, it’s the perfect time to start thinking about next year! Our team of CPA professionals is here to help review your recent tax returns and find potential savings or restructuring opportunities for the future. Contact us today to get started! We look forward to helping you save money on your taxes because that’s what we do best.

START YOUR TAX PLANNING

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