Personal Financial Planning

You have worked hard to achieve your level of wealth. You have accumulated assets and invested wisely. Now is the time to focus on preserving your principal, generating income and protecting your assets against taxes and other forces that threaten to reduce their value. This is where proper personal financial planning can help.

Clients with wealth come to the The Law Offices of Lawrence Israeloff, PLLC and engage us to provide our full services of comprehensive personal financial and asset management planning. Our tax planning strategies help high net worth individuals reduce the impact of federal, state and local income taxes, protect against unnecessary estate and gift taxes, and maximize growth opportunities during life and after death. To ensure more wealth is preserved and enhanced, we develop strategies tailored specifically to each client’s financial situation, helping them identify and accomplish their personal asset-protection goals.

We help our clients make educated decisions for their tax planning and compliance.  We keep them informed of the latest tax laws and updates, including the new 3.8% Medicare surtax (the “Net Investment Income Tax”).

As of January 1, 2013, there is a new 3.8% net investment income tax on some categories of passive investment income for individuals, trusts and estates that exceed certain income thresholds.  As a result, it is in your best interest to identify these income sources and adopt strategies to lower your modified adjusted gross income or your net investment income to avoid the surtax.  If you think the new tax may apply to you, we can explain your choices and help you pick the best strategy to minimize the tax impact.

If you’re not sure what the new health care law means to you, you’re not alone. A poll by the Kaiser Family Foundation revealed that just over a third of the public had tried to find out more information about the law—the Affordable Care Act—in recent months. About half of the respondents to the survey said they remain confused about the law and its provisions.

If you have questions we can provide the answers you need.

Among other things, our individual clients should be aware of the Shared Responsibility Provision that becomes effective on January 1, 2014. Under the provision, people of all ages, including children, must either have minimum essential health coverage, qualify for an exemption or make a payment when they file their tax return. We can help you understand whether your coverage meets the law’s requirements, how gaps in coverage will be treated and what circumstances qualify for an exemption.

Contact us today to find out how the new tax laws will affect you.

Additional legal services include:

  • Quarterly estimated tax payment calculations
  • Future tax projections
  • Trust and estate administration
  • Business entity formation
  • Partnership agreements
  • Limited Liability Company operating agreements
  • Stockholder agreements
  • Buy-sell agreements
  • Purchase and sale agreements

OFFICE LOCATION

445 Broad Hollow Road, Suite 205
Melville, NY 11747
516.537.4440
Email: larry@israelofflawcpa.com

MAP

Tax Attorney CPA, CFP®, Melville NY

The Law Offices of Lawrence Israeloff, PLLC

DISCLAIMER

PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
©2017 Tax Attorney CPA, CFP®, Melville NY
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