Experienced Harrisburg Accountants Provide Reliable Services for Individuals

Candid advice and trustworthy accounting protect your personal bottom line

For many folks, balancing the checkbook and skimming the credit card bill to spot questionable transactions is all the accounting they need to do. But if you own rental property, actively trade stocks, or own a small business, you could benefit greatly from tax planning advice from an experienced advisor. This is especially true in the wake of the most extensive tax reform in the last 30 years. At Breon & Associates, our experienced accounting team wants to protect you from excessive and unnecessary taxation. If you are concerned about your tax burden, or you have unanswered questions about how the new tax law will affect you, we can help. We’re ready to give you the in-depth, personalized tax planning advice you need to keep more of what you work so hard to earn.

Personal taxation planning to reduce your exposure

The Tax Cuts and Jobs Act of 2017 introduced sweeping changes, and if you were slow to react, we can bring you up to speed. We can also advise you on tried and true strategies for reducing your exposure to state and federal taxes related to your:

• Business income, including S-Corps, solely owned LLCs and partnerships
• Real estate holdings and transactions, including residential and commercial rental properties
• Equity investments

Our advice is always personalized, based on your unique circumstances. Depending on your situation, you might benefit from:

• Retirement savings — Maximizing your 401(k) contributions may lower your taxable income enough to place you in a lower tax bracket.
• College savings — A 529 Savings Plan allows you to save for your children’s college with before tax income.
• Trusts — Placing your assets in an irrevocable trust can reduce the size of your taxable estate so you won’t trigger the federal estate tax. That means you can pass on more of your wealth to your heirs.
• Insurance — Another way to pass on more of your wealth is through a life insurance trust, since the proceeds of a life insurance policy are not taxable.

We provide the individualized advice you need to keep more of what you’ve earned and better provide for those you love.

S-Corp and LLC taxation planning for your solely-owned small business

The new tax law has many implications for business owners who use the “pass through” forms of reporting business income. Many such business owners prepare their own taxes and don’t have the in-depth knowledge of the U.S. Tax Code to properly protect themselves. Of course, by the time you’re filing your taxes, you have missed the opportunity to do the type of advanced planning that can reduce your exposure. Let Breon & Associates help you with your tax planning so you can receive every advantage of the new law.