A key reason many people seek assistance with estate planning is to ensure their assets are not unduly taxed. At Michelle Tuschinski, Attorney at Law, we provide tax planning assistance to our clients so that their hard-earned assets are not subject to unnecessary government taxes. Contact us to learn more about the services we offer.
How Tax Planning Can Assist You
A tax planning attorney from Michelle Tuschinski, Attorney at Law, can identify issues with taxes in many aspects, such as tax implications in asset protection. Certain methods of asset protection may offer protection from additional taxes. A tax planning attorney can also provide you with advice regarding taxes and the type of business you decide to form. Different entities are taxed in different ways, and knowing how this affects you and your endeavors is essential to proper planning. Furthermore, if your business will have employees, a tax planning attorney can explain your tax requirements to you to ensure your business remains legally compliant with governing federal, state, and local tax laws.
Estates and Tax Planning
Seeking advice from an experienced tax planning attorney is imperative when you are planning your estate. After all, you want to be sure that as much of your assets as possible go to care for you in your golden years, and what is left over goes to your family.
At Michelle Tuschinski, Attorney at Law, we stay up-to-date on all tax laws and how they can affect estate planning. We will advise you on the different estate planning tools available to you, including estate planning with trusts and estate planning with wills, and how these tools will affect your estate’s tax burden.
While Virginia does not currently have an estate tax, or a tax that is levied on an estate at the time of death, the federal government does. Also, the issue of an estate tax in Virginia is not completely off the table, as there have been attempts as recently as 2021 to reinstate the tax. Having a tax planning attorney that follows legislation and how it impacts you on your side is crucial!
Speak With Me Specializing in Virginia Tax Planning At Michelle Tuschinski, Attorney at Law
If You Need Virginia Tax Planning Advice, Contact Michelle Tuschinski, Attorney at Law. We can help you reach all of your estate planning goals while preventing your assets from being overtaxed.