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- Accurate Tax Filing for Individuals & Businesses
20+ Years Experience
Enrolled Agent (EA)
Certified Tax Resolution Specialist
Published Author
Critical: Compliance First
Tax planning only works if your prior years are in compliance. If you have unfiled returns or back taxes, you need to get current first. Get compliant →
The Planning Meeting
We meet quarterly or annually (depending on your complexity) to review year-to-date income and expenses, estimate your tax liability, identify reduction opportunities, discuss upcoming changes, and adjust estimated payments and estate planning preparation.
Example: The Impact of Planning
A self-employed consultant earning $150,000 might owe $40,000 in taxes. With strategic planning (timing income, maximizing deductions, establishing a Solo 401(k), and timing quarterly payments), that liability could drop to $32,000 or less. Over time, these savings compound significantly.
Our Tax Planning Services
Income Timing & Deferral
Installment agreements spread your debt over 5-7 years with manageable monthly payments.
Estimated Tax Strategy
We calculate estimated tax payments to avoid underpayment penalties while keeping money in your pocket longer. Quarterly optimization included.
Business Structure Optimization
Sole proprietor, S-Corp, C-Corp, or LLC? Each has different tax consequences. We advise on the best structure for your situation.
Deduction Maximization
Home office, vehicle expenses, professional development, health insurance, retirement contributions. Legitimate deductions reduce your taxable income directly.
Retirement Contribution Planning
SEP-IRA, Solo 401(k), or SIMPLE IRA? We help you fund the right plan, saving taxes now while building retirement security.
Estate Planning
Plan ahead with tax-conscious estate strategies designed to protect assets, reduce future tax burdens, and support your long-term financial goals.
Tax Planning vs. Tax Preparation
Tax preparation looks backward: we file what happened last year. Tax planning looks forward: we structure this year to minimize what you'll owe next year. Both matter, but planning is where real savings happen.
Why Choose Leonard for Tax Planning?
Leonard's 20+ years as a Senior Accountant means he understands business finances deeply. His Enrolled Agent status (EA) requires annual continuing education in tax law, so he stays current with new rules, deductions, and strategies. And his bookkeeping background means he knows how to structure your accounting system to support effective tax planning.
Frequently Asked Questions
Ideally year-round, but at minimum quarterly. If you're self-employed or own a business, we recommend quarterly planning meetings to stay ahead of your tax liability.
Absolutely. Tax planning uses legal deductions, deferral strategies, and entity structure choices. The IRS expects and allows tax planning; it's standard practice.
It depends on your income, business structure, and current deductions. For a business owner, 10-20% of tax liability is common. We'll quantify the benefit in your specific situation.
Get Your Tax Issues Resolved Today
Contact LP Tax Services LLC for a confidential consultation. We serve Somerset County, NJ and surrounding areas.