Building your wealth requires the careful review of your overall financial picture, particularly your own personal circumstances and the tax implications of your investments. By structuring the right mix of investments for your portfolio, you can pay less tax and ensure that you are receiving optimal returns. As most people want to pass on as much as they can to their beneficiaries, proper tax & estate planning is necessary to reduce your tax liability and ensure that your assets are distributed in the way that you want.
Corporate tax planning can be even more complex as there are a variety of insurance and investment strategies that can be used to reduce corporate taxation. To ensure the right solution is We work with our clients individually to customize the most effective solution. At David Cohen & Associates we first assist our corporate clients in determining what is required for their specific situation and then provide them with the ongoing guidance and expertise to effectively execute the suggested tax reduction strategies.
Insurance can play an important role in tax & estate planning for both individuals and corporations. For example, as an individual, life insurance can ensure the retention of your net estate value by creating a fund that can be used to pay taxes owing at death. This strategy involves estimating your final tax bill, and redirecting money that you do not require for living or lifestyle expenses to an insurance contract. The insurance then replaces the value of your estate you lose in taxes, greatly reducing the overall tax burden on your estate and your heirs. On a corporate level, insurance can be used in a variety of strategies to protect and transfer assets, reduce taxation, replace key employees, fund shareholder agreements and transfer ownership of a business.
