Tax Planning & Preparation

TAX PLANNING & PREPARATION

Individuals face a wide array of financial questions in the quest for long-range financial security. Our team helps clients design a comprehensive plan to reach their financial objectives. Grassi analyzes the current status of clients' investments, tax, insurance, retirement and estate plans. We dissect each component and make recommendations for improvement. Because the elements of a sound financial plan are interwoven, the Grassi team regularly monitors the plan and assists in making modifications that reflect clients' changing needs, goals and priorities.

Retirement Planning

Planning for the future is more important now than ever. With the bleak future of Social Security and the continued reduction of employer-sponsored retirement plans, we all need to plan ahead for retirement. Grassi helps both individuals and businesses design and manage customized retirement plans. Through the analysis of various program alternatives, our team designs programs that allow clients to retain more of their assets. Our professionals help with planning for IRAs, 401(k)'s and other qualified plans. We assist clients to ensure their retirement plans meet current and projected lifestyle needs.

Estate Planning

Our team understands the time and effort clients have devoted to accumulating and managing their wealth. Grassi helps create programs that protect and preserve assets for future generations. We analyze their complete financial situation and advise them on the best use of estate-planning tools, including trusts, wills, private foundations, charitable gifts and succession planning-always considering the tax regulations and consequences.

Succession Planning

Grassi develops succession plans that ensure the tax-efficient transfer of business management and ownership to the next generation. Our professionals help preserve what our clients have worked so hard to earn. In addition, our team provides the services necessary to support this planning, including business valuations, shareholder buy/sell agreements, stock option plans, creation of family limited partnerships, and support with the sale of clients’ businesses.

Investment Strategies

Our investment advisors work with clients to develop customized wealth management strategies. We customize each portfolio according to such factors as risk tolerance, tax liability, and short- and long-term market expectations. We keep clients informed with a consolidated financial statement detailing their investment holdings.

Charitable and Gift Giving Strategies

Our professionals regularly review the latest tax laws and regulations to help plan financial strategies. These services include preparation and review of annual income, estate and gift tax returns. Our team develops life-long gifting programs that use appropriate vehicles such as family limited partnerships, charitable trust, and qualified residence trusts. We also advise clients on pre- and post-mortem estate and income tax planning.

Financial Administration

In addition to planning clients’ personal wealth, we help manage assets on a day-to-day or yearly schedule. Our services include bill paying, bookkeeping, cash flow management, budgeting, and financial statement preparation. Where necessary, we act as a “personal CFO” and provide all functions necessary to oversee clients’ finances. We also provide contract and royalty reviews, insurance coverage analysis and oversight, assistance with the purchase of high-priced items (e.g., homes, cars, boats, etc.).

Tax Projections

As part of the tax planning process, our team helps clients understand the full tax implications of their financial decisions. Armed with this information, clients can protect their wealth and assets by avoiding tax pitfalls. We help clients create, modify and execute a carefully designed tax plan.

Tax Negotiations and Settlements

When communicating and negotiating with tax authorities, professionals who know the tax system—and the policies and procedures of the authorities—are invaluable allies. Clients rely on us to negotiate IRS and State Tax settlements, arrange installment plans with the Collection Division, reduce tax liabilities by preparing Offers in Compromise, prepare petitions to Tax Court, remove tax liens and levies, and stop the accrual of penalties and interest assessments.

Through successful negotiation, our specialists have secured millions of dollars in penalty reductions. We also facilitate and clarify information exchanges between parties. Our experience and reputation help clients settle any tax issues quickly and efficiently, acting with their best interests in mind.