Tax Mitigation Services

Optimize Savings and Minimize Liabilities

Tax mitigation planning is essential for reducing your tax burden, staying compliant, and maximizing savings. Our experienced tax professionals create customized strategies that help you legally minimize liabilities and enhance your financial health.

Lifetime Tax Mitigation Strategies: Build a tailored plan to optimize deductions, credits, and income timing.
Evaluate Tax Exposure: Identify and mitigate areas where your business is overpaying in taxes.
Ensure Compliance: Stay compliant with ever-changing tax regulations, avoiding penalties and audits.
Optimize Deductions: Maximize your eligible deductions and credits to reduce taxable income.
Provide Strategic Tax Advice: Receive expert guidance on minimizing taxes while growing your wealth.

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(385) 552 5962

Comprehensive Income Tax Planning Strategies

Our team is well-versed in the 9,000+ pages of Internal Revenue Code and associated IRS regulations
In regular tax planning meetings, your tax team will review your projected net profits for the current tax year, forecast your federal and state tax amounts, and propose a variety of tax mitigation options for you to consider before year-end
Our customized tax planning suggestions are explained in easy-to-understand terms and we disclose the tax savings of each suggestion
Each proposed tax planning suggestion will be simply explained, and the tax savings of each suggestion will be disclosed. We will work together with you to determine the best plans to institute for the current year.

Discover actionable tax reduction strategies in the Tax Planning and Strategy Center

Estate and Wealth Management Tax Planning

Our tax team and qualified estate attorneys work together to propose and implement estate tax mitigation strategies to limit or eliminate the costly impact of estate taxes
Estate Tax planning is critical for clients who surpass accumulated wealth thresholds. The highest federal and state combined estate tax rate is 60% and would be assessed on the fair market value of your accumulated wealth over $12,060,000 for single individuals or $24,120,000 for married couples.

Tax Planning for Business Owners

Linked Accounting provides business owners with the relevant information and ideas regarding succession planning and exit strategies.
An upcoming business sale may be the only experience like it in your life. Our consultants have helped hundreds of owners navigate the complexities of a business exit.
It’s best to start planning 2-3 years prior to your proposed sale timeframe. Engaging our team early ensures you have the most options open to you. We offer guidance on:

Timing of your business sale
Expectations of your future buyer
How to find a buyer
Estimating the value of your business, including acceptable owner add-backs to your annual cash flows
Forecasted net cash from a business sale and how to preserve and grow it
Business sale tax mitigation strategies
Legal documents required to properly memorialize the details of your sale transaction
Your next steps after a business sale

Acquisition Analysis

Our team will help you evaluate a potential acquisition by thoroughly analyzing the following considerations:

Historic cash flow
Quality of earnings
Tax compliance requirements
Accounting systems and procedures of the target organization
Confirmations of receivables and payables balances
Inventory
Working capital

Frequently Asked Questions

What is tax planning, and why is it important?

Tax planning is the process of organizing your finances to minimize your tax liabilities while staying compliant with tax laws. It involves strategies such as timing income, deductions, and investments to reduce the overall amount you owe. Tax planning is important because it helps businesses and individuals save money, avoid penalties, and optimize financial outcomes, allowing for more efficient cash flow management and long-term financial planning.

What are the common tax deductions I can claim?

Common tax deductions for businesses include expenses like office supplies, rent, utilities, employee salaries, and professional services such as accounting or legal fees. Other deductions may include vehicle expenses, travel costs for business purposes, advertising, and home office expenses if applicable. Tax planning with a professional can help ensure you’re claiming all eligible deductions while staying compliant with tax regulations.

How can I reduce my taxable income?

You can reduce your taxable income by claiming eligible deductions, such as business expenses, home office deductions, retirement contributions, and health insurance premiums for the self-employed. Maximizing credits, such as energy-efficient home credits or education credits, also helps lower your taxable income. Engaging in tax planning strategies, such as deferring income to future tax years or accelerating expenses, can further minimize your tax burden while staying compliant with tax laws.

What is the difference between tax credits and tax deductions?

Tax credits reduce your tax bill directly, dollar for dollar, while tax deductions lower your taxable income, which indirectly reduces the amount of tax you owe. For example, a $1,000 tax credit reduces your tax bill by $1,000, while a $1,000 deduction lowers the portion of your income subject to taxes. Both credits and deductions can significantly reduce your tax liability, but credits have a more immediate impact.

How can I plan for taxes as a small business owner?

As a small business owner, you can plan for taxes by keeping organized financial records, tracking deductible expenses, and setting aside a portion of your income for estimated tax payments. Regularly review financial statements to estimate tax liabilities and consider hiring a tax professional for strategic planning. Using tax-advantaged accounts, such as retirement plans, and timing income and expenses can also help reduce your tax burden. Year-round tax planning ensures you’re prepared for tax season without surprises.

What strategies can I use to minimize capital gains tax?

To minimize capital gains tax, you can hold investments for more than a year to qualify for lower long-term capital gains rates. Offset gains with losses through tax-loss harvesting, or reinvest proceeds into tax-advantaged accounts like IRAs or 401(k)s. You can also strategically time the sale of assets, spreading gains over multiple tax years, or donate appreciated assets to charity for tax benefits. Consulting with a tax professional can help tailor these strategies to your financial situation.

How do tax-advantaged retirement accounts help with tax planning?

Tax-advantaged retirement accounts, like IRAs and 401(k)s, help with tax planning by allowing you to contribute pre-tax income, which reduces your taxable income for the year. The growth in these accounts is tax-deferred, meaning you don’t pay taxes on the earnings until you withdraw in retirement. Roth accounts, on the other hand, let you contribute after-tax income, but qualified withdrawals are tax-free. These accounts provide valuable tools for managing your taxable income and reducing tax liabilities.

What is the tax impact of selling property or investments?

Selling property or investments can trigger capital gains taxes if the asset has appreciated in value. Short-term capital gains, from assets held less than a year, are taxed at your regular income tax rate, while long-term gains, from assets held over a year, are typically taxed at lower rates. You may also use capital losses to offset gains, reducing your tax liability. Consulting a tax professional can help you navigate the tax implications of significant sales.

How should I plan for taxes if I receive an inheritance?

When receiving an inheritance, it’s important to understand that while inheritances themselves are typically not taxed, certain assets, such as retirement accounts or property, may trigger taxes when sold or withdrawn. For example, inherited investments may be subject to capital gains taxes. Planning with a tax professional can help you navigate the tax rules, optimize any potential tax savings, and ensure compliance with applicable tax laws.

What are the key tax planning strategies for high-income earners?

High-income earners can reduce their tax burden through strategies such as maximizing contributions to tax-advantaged retirement accounts, utilizing charitable donations to lower taxable income, and strategically timing income and deductions. Investing in tax-efficient vehicles, taking advantage of capital gains planning, and leveraging tax-loss harvesting are also effective strategies. Working with a tax advisor ensures you utilize all available credits, deductions, and legal tax mitigation opportunities.

Areas of Expertise

Services

Bank Counsulting

Bank consulting services help businesses and non-profits with loan applications, financial planning, and bank ratio monitoring to secure better lending terms.

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Month-end Bookkeeping

Bookkeeping is the process of recording and organizing a business’s financial transactions, ensuring accurate and up-to-date records for financial management and compliance.

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CFO Consulting

CFO consulting provides businesses with expert financial leadership and strategic guidance, helping with tasks such as budgeting, cash flow management, and financial planning without the need for a full-time CFO.

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Employee Benefits 401k Audit

An Employee Benefits 401(k) Audit is an independent review of a company’s 401(k) plan to ensure compliance with ERISA regulations, accuracy in financial statements, and proper management of participant contributions.

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Nonprofit Audit

A non-profit audit is an independent review of a non-profit’s financial records to verify accuracy, ensure regulatory compliance, and maintain transparency in reporting, typically conducted by a certified public accountant (CPA).

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Tax Compliance

Tax compliance is the process of adhering to tax laws by accurately reporting income, filing returns on time, and paying the required taxes to avoid penalties or legal consequences.

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Meet the Team

Tax Planning and Mitigation Specialists

Brian Van Camp, CPA, MTax

Managing Partner, Director of Tax Strategy

Brian’s passion for developing and implementing business and tax strategies has been instrumental to many businesses and individuals during his tenure at Linked Accounting. Business owners regularly seek out his advice on tax planning and audit matters, commercial lending, and business acquisition and sale transactions. When new tax laws are passed, you can be certain Brian will have read the law and developed tax strategies to help our clients make good use of new provisions of the Tax Code.

Jacob Martin

Partner

…

Specialized Tax Planning and Mitigation Experts

Our team is dedicated to providing nonprofits with tailored tax strategies that maximize benefits and ensure full compliance with IRS and state regulations. We understand the unique tax challenges that nonprofits face, from managing charitable deductions to handling unrelated business income taxes (UBIT). Our focus is on mitigating potential tax liabilities while helping your organization operate as efficiently as possible.

Charitable Deductions Optimization: Maximize the value of charitable donations while maintaining compliance with donor reporting requirements.
UBIT Management: Navigate the complexities of unrelated business income taxes, ensuring that your nonprofit remains compliant while minimizing tax liabilities.
Exempt Status Compliance: Ensure that your tax-exempt status is protected through proactive planning and adherence to IRS guidelines.

We provide in-depth, proactive strategies that help your nonprofit organization achieve financial stability and growth while minimizing the risk of penalties and IRS scrutiny.

Planning Center

Our Latest Thinking

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Tax Mitigation Videos

Cost Segregation and Accelerated Depreciation

If you own income producing real estate, you are likely sitting on a big tax break since the day you bought the property. It is called accelerated depreciation. Consider this. When you buy office supplies, you deduct those costs as a tax-deductible expense. But what happens to the costs associated with buying real estate? Do you get to deduct those costs like paper clips, deducted as an expense in the year you buy it? The IRS says no. You need to spread that big deduction out over decades, creating a steady stream of small tax benefits each year.

Research and Development Tax Credit

Research and Development Tax Credits are lucrative and are available to many business owners that don’t claim them. Find out more about eligibility for R&D Tax Credits.

Cost Segregation and Accelerated Depreciation

Research and Development Tax Credit

Research and Development Tax Credits are lucrative and are available to many business owners that don’t claim them. Find out more about eligibility for R&D Tax Credits.

Tax Mitigation Services

Optimize Savings and Minimize Liabilities

Call Us

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Comprehensive Income Tax Planning Strategies

Estate and Wealth Management Tax Planning

Tax Planning for Business Owners

Frequently Asked Questions

Areas of Expertise

Services

Bank Counsulting

Month-end Bookkeeping

CFO Consulting

Employee Benefits 401k Audit

Nonprofit Audit

Tax Compliance

Meet the Team

Tax Planning and Mitigation Specialists

Brian Van Camp, CPA, MTax

Managing Partner, Director of Tax Strategy

Jacob Martin

Partner

Specialized Tax Planning and Mitigation Experts

Planning Center

Our Latest Thinking

Navigating Tax Implications for Cross-Border Transactions

Maximizing Deductions with Strategic Depreciation

Tax-Efficient Wealth Transfer Strategies

Tax Mitigation Videos

Cost Segregation and Accelerated Depreciation

Research and Development Tax Credit

Cost Segregation and Accelerated Depreciation

Research and Development Tax Credit

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