Income Tax Planning

Personal Finance & Tax Management Services

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Income Tax Planning, Preparation & Compliance

Wellspring’s comprehensive approach to wealth planning includes special attention to income taxes. Not only do we prepare necessary income tax returns, we also provide a tax plan that evaluates and minimizes future liability.

So many tax advisors focus on the past—preparation of income tax returns.  While this is a necessity, it is the forward-looking tax planning that adds significant value to the overall financial plan. This proactive income tax planning conducted throughout the year is critical to our clients’ overall comprehensive plan. Through this quarterly approach, we analyze income, deductions and tax strategies to reduce overall tax burden to our clients.

Wellspring’s income tax planning, preparation and compliance services include thoughtful consideration of income taxes in the implementation of all financial, investment, retirement, wealth transfer and charitable planning. This includes:

  • Income tax return preparation for all federal, state and local returns
  • Income tax planning throughout the year to assess current and future liabilities to implement ideas to minimize taxes
  • Preparation of federal, state and local estimated income tax vouchers and/or income tax withholding recommendations for each calendar year, as needed
  • Assistance with IRS reviews and audits