Tax Preparation Service in Orlando, FL

For most Americans, taxes are the single biggest expenditure year in and year out. When faced with such a large recurring payment, you should be sure that you aren’t paying more than you have to. Getting your taxes prepared by a tax preparation professional can save you hundreds to thousands of dollars on your taxes and keep the IRS out of your mailbox.

At Nelson Financial Planning, our tax preparation and financial planning team has over 30 years of experience serving individuals and families across the Orlando, FL area. When you bring your taxes to us, we use our comprehensive tax code knowledge to prepare your taxes quickly and correctly, all while saving you as much money as possible. We specialize in tax preparation and investment services for retired clients, and work to build a sound investment plan to help you get the most out of your retirement benefits, pension plan and 401k plan. Read on to learn more about our tax services, and call our office at (407) 629-6477 to schedule an appointment with us today!

What Can Affect Your Taxes?

There are only two things guaranteed in this life – death and taxes. At least with taxes, you can try to minimize their effect. Our tax system in this country is desperately in need of a complete overhaul. The current tax code covers over 72,000 pages and is a marvel in complexity and exceptions. Depending on your income level, taxes can claim over one-third of your money. This is a particular concern if you are planning for retirement.

As part of our retirement savings plan, our financial advisors look ahead at your potential tax bill in retirement and provide the retirement advice to help you budget for this expense. We pay particular attention to tax situations that allow for free withdrawals of pre-tax retirement assets. In addition, we also focus on the levels of income that trigger taxation of Social Security benefits. These are just two of the scenarios that can occur in retirement that have a dramatic impact on your retirement income.

Top Ten Tax Changes in 2021

Before You Retire: Our Three-Step Tax Preparation Process

As part of our tax return preparation process, your tax information goes through three levels of review before it is filed in order to ensure the utmost accuracy. Our financial planners also do this to take advantage of any opportunities to reduce your taxes. When this process begins, our tax liaison gathers all your tax information and ensures that all possible tax-related items are collected. Next, our CPA reviews these items and completes a draft tax return. Finally, a face to face review of your return is completed by one of our planners in order to ensure you don’t pay more than required.

Trust Your Taxes with Our Tax Preparation Professionals at Nelson Financial Planning

Since 1984, our tax preparation and estate planning team at Nelson Financial Planning has worked diligently to save families hundreds to thousands of dollars on their taxes each year. For tax newcomers and retired clients alike, we provide thorough, knowledgeable, and efficient tax preparation services to help you save money. To discuss your taxes and investment with us, contact our office at (407) 629-6477 to schedule an appointment today with one of the best investment firms!

Tax Mitigation FAQs

What can affect my taxes?

To help you limit your tax liability in retirement, we pay close attention to tax situations that allow for free withdrawals of pre-tax retirement funds. We also focus on levels of income that can trigger the taxing of Social Security benefits. Our financial team can help you with your tax mitigation strategy in retirement.

Is my Social Security income taxable?

It can be. Social Security income is taxable if your total yearly income is above the taxable income threshold set for those filing jointly or individually.