Running a business is extremely demanding, and there just isn’t enough time in the day to keep all the plates from spinning out of control. The Long Tax Advisory Group helps business owners and retirees cut their taxes and keep more money in their pockets through proactive strategies that go beyond just getting your taxes done.
When’s the last time your tax person called you up with an idea to save you $1,000 or more? When is the last time your tax person, financial advisor, and attorney all got together to look over your information? For most people, the answer to these questions is: never.
“There’s nobody else in town that does what we do,” said Jimmy D. Long Jr., J.D. “We’ve got a passion for solving financial problems for people so they can sleep at night.”
With over 30 years experience an attorney and tax planning expert Jimmy provides integrated tax, legal, and financial solutions, all wrapped up and backed by his carefully cultivated network of professionals. He serves Natchitoches and its surrounding parishes.
Services include business owner or retiree tax reduction planning, tax free retirement plans for anyone, strategic business coaching, cost segregation studies, asset protection, executive benefit planning, and much more.
The traditional way of saving for retirement has changed a lot. Most people set up retirement plans for the environment as it existed at that point in time. Considering increased life expectancy, there are strategies that can lower taxes and give you more social security benefits.
Under the current tax law, if a married couple has an adjusted gross income of more than $44,000 per year, then at that level their social security begins to be taxed. Depending on how much over $44,000 their income is, up to 85% of their social security is taxable. Most people have no idea!
The biggest culprit that causes this tax trap is the complete lack of any tax planning, income distribution planning, and ultimately, long-term care planning for your IRA.
Now it’s in your control to fix it! The money in your IRA has never been taxed. All this time it’s been growing. When you draw it out, it’s all taxable (the contribution amount and the amount it’s grown). You have to pay tax on the interest and all the principle and the government gets the first big juicy bite.
That’s where the Long Tax Advisory Group can help. Call for a free consultation.
“Whether it’s sophisticated or simple, there’s lots of reasons to come see us,” said Long. “Let’s make next year different. Give me a call and get started today.”
Monday-Thursday 8 am – 12 pm and 1-5 pm
Friday 8 am – 12 pm