Services / Tax Planning
Available in all 50 states · Based in Tukwila, WA
Tax Planning
Year-round strategy that lowers your tax bill and keeps surprises out of April, for clients in all 50 states.
Your plan covers
The best time to save on taxes is before the year ends. We review your income, business structure and goals, then build a plan to reduce what you owe legally and predictably.
Business owners, self-employed professionals and individuals with growing or changing income.
What's included
- Year-round tax projections
- Entity selection, such as LLC vs. S corp election
- Owner compensation and distribution planning
- Estimated quarterly payment planning
- Deduction and expense strategy
- Planning around major life and business changes
Your planning year with KFG
Planning works because it happens before the year closes, not after.
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Review last year, project this year, set estimated payments.
Check entity and owner pay. Consider an S corp election if it fits.
Mid-year true-up of income, expenses and estimates.
Year-end moves: purchases, retirement contributions, timing.
What is tax planning and how is it different from tax preparation?
Tax preparation reports what already happened. Tax planning happens during the year, while you can still make decisions that lower your tax, such as choosing the right business structure, timing income and expenses, setting owner pay, and making retirement contributions.
Should my LLC elect to be taxed as an S corporation?
Possibly. An S corp election can reduce self-employment taxes once your business profit is high enough, because owners take a reasonable salary and receive the rest as distributions. It also adds payroll and extra filing requirements. We run the numbers for your situation and tell you whether it makes sense.
What are estimated tax payments and do I need to make them?
If you have income without withholding, like self-employment, rental or investment income, you generally need to pay estimated taxes four times a year. For most people the federal due dates are April 15, June 15, September 15 and January 15 of the following year. Missing them can lead to underpayment penalties.
How can I lower my taxes as a business owner?
Common strategies include choosing the right entity, deducting every legitimate business expense, retirement plans such as a SEP-IRA or Solo 401(k), the qualified business income deduction where available, timing large purchases, and hiring family members properly. The right mix depends on your numbers, which is what a planning session is for.
When is the best time to do tax planning?
Before the year ends. Many of the most valuable moves must be made by December 31. Ideally we review your numbers at least once mid-year and again in the fall, then adjust your estimated payments to match.
Ready to get started?
Tell us what you need and we will get back to you quickly.