Tax Planning and Preparation

At OlsonTFP, we integrate tax planning & preparation with comprehensive financial planning and investment management. But we also just do taxes.

Tax planning services include

  • Personal tax preparation by an IRS Registered Tax Return Preparer
  • Special attention to sole proprietors and their unique needs
  • We also work with small partnerships and non profits
  • Expertise in tax planning related to health care, education, retirement and home financing
  • Attention to critical tax situations such as alternative minimum tax, employee stock options, foreign income, investment accounting
  • Tax minimization strategies across all family members
  • Year-round availability to discuss issues, reply to government notices, adjust withholding, etc.

Tax preparation is available as a standalone service or included as one of the services in the Investment Management service package.

Practical application

A couple with one child and one on the way realized they were running out of space. Their goal was to buy a house, but how to ensure house payments would not make it difficult to achieve other financial goals like saving for education? We began with a budget to make sure they understood how much cash was available monthly. We looked at the tax impact of various home purchase options to see how mortgage and real estate taxes would affect their after-tax cash flow. The result was a clear idea of how much they could afford to spend on housing and still keep on track saving for education, retirement and other goals. Now they are enjoying their new home, can afford a contribution to 529 plans for the kids and purchased life insurance, comfortable knowing that housing costs won’t become a liability.