The Gordon Law Group’s tax team regularly works with high-profit individuals and businesses on income and estate tax saving strategies. Our savings strategies typically impact parties with annual gains of $2,000,000 or more and a minimum net worth of $20,000,000.
If you’re in the market for a tax lawyer for high-income earners, let’s talk. We’ve helped individuals who’ve experienced significant income gains over a short period, due to business sales, inheritances, or a substantial raise.
Tax Strategies For High-Income Earners
Here are some standard tactics that a tax lawyer for high-income earners may suggest:
- Making a sizeable charitable contribution with the cost fully funded by income tax savings;
- Gifting a substantial amount of money to a family member in such a way that it is not subject to the gift tax; the tactic saves money and simultaneously increases family wealth;
- Allowing for a tax-free conversion of an IRA to a Roth plan so that there is no resulting required minimum distribution (“RMD”) and all subsequent plan distributions are not subject to income tax.
In some situations, these strategies work very well, and we’ll recommend them. But we also go beyond and look under every possible stone to ensure you’re taking full advantage of every possible deduction and credit.
Connect With A Tax Lawyer For High-Income Earners
Tax rates for high-income earners can, at first, seem astronomically high. We know the strategies you can use to legally decrease your taxable income and keep money in your control. Our tax team will perform a 360-analysis of your situation and develop a tailor-made tax position for you.
In short, we know how to keep money in your accounts, not the government’s coffers. Get in touch today to begin the conversation. The consultation is on us.Contact A Tax Lawyer For High-Income Earners »