Types of Tax Planning in Missouri
Whether you or a loved one need estate tax planning or income tax planning, the professional Missouri attorneys at The Law Office of Christopher W. Dumm have the experienced needed to ensure you or your loved ones money is protected, your taxes are completed correctly, and you or a loved one never pay more taxes than you owe in Missouri.
Estate Tax Planning
Your estate plan can be utilized to help you or a loved one reduce what is owed in taxes. Factoring in your will, trusts, and other estate planning documents you or a loved one can maximize your Missouri wealth and reduce how much the government can take.
There are some strategies to consider when safeguarding your assets from being over-taxed. One method is to declare some of your assets as gifts. A trust can also be utilized to transfer your property and assets to your designated beneficiaries, in turn removing these assets form your estate. Estate tax planning is also an opportunity to address you or a loved one’s retirement goals to both reduce and optimize what you owe in taxes in Missouri.
Income Tax Planning
Income tax planning can help you or a loved one avoid paying more federal income tax than is necessary in Missouri. There are some factors to consider with this type of tax planning including, your sources of income, the various assets owned, and the businesses that you operate can modify your filings to reduce what income tax you owe.
The Law Firm of Christopher W. Dumm is here to help you and your loved ones understand Estate Planning, Elder Law, Asset Protection, Probate, Medicaid Planning, Special Needs Planning, and Business Planning. We welcome you to contact our Joplin and Springfield, Missouri firms to learn more about how we can help meet your tax planning needs.