Tax Planning

Tax planning is the key to successfully and legally reducing your tax liability. At Pryor Services, we continually review changes to tax policies and work to identify tax-saving strategies to help minimize the tax burden of our clients. We take pride in spending time with our clients to assess their overall financial situation in an effort to identify methods for which we can minimize their tax liability.   

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Pryor Services can help you chart your most effective financial course. Tax planning can involve:

• Timing on sales

• Utilizing trusts

• Setting up retirement plans

• Reviewing your business filing status

• Investment strategies, and numerous other aspects of your daily personal or business transactions. 

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Tax planning can be classified into the following:

1. Permissive Tax Planning: planning falls under the framework of the law.

2. Purposive Tax Planning: planning with a specific objective.

3. Long-Range/Short-Range Tax Planning: planning executed at the beginning and towards the end of the fiscal year.

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