Tax Planning and Tax Preparation

By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that can reduce both your current and future tax liabilities.  The firm provides our individual and business clients with the taxation expertise and knowledge that they deserve year round. Tax services offered include but are not limited to:

  • Tax Planning for Individuals, Income Tax Returns (form 1040) ,
  • Retirement Tax Planning
  • Tax Planning Strategies
  • Corporations Tax Returns
  • Partnerships and LLCs, LLPs Tax Returns 
  • Estates Tax Planning
  • Estate, Trusts & Gift Returns
  • Not-for-profit Organizations


       Tax planning is an essential element of the tax preparation process. By making tax-planning part of your overall business strategy, you can use our firm’s experience and access to the most current new developments in the tax laws to decrease both your current and future tax liabilities.
       Our firm will accurately and efficiently prepare tax returns for various types of entities including individuals, corporations, partnerships, trusts, estates, and not-for-profit organizations

Estate & Trust Tax Preparation


        Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. We can guide you through the complex process of getting your financial affairs in order.  For business owners, we can assist you in providing for business continuity and succession of ownership that is essential.


 

      

  

Cash Flow Planning and Budget


The most important part of a financial plan are the cash flow and budget planning.  Discipline and control over the money spent will do more to secure your financial future than any other aspect of your financial plan. Cash flow analysis is one of several useful tools in budgeting. Together with an income/expense statement and a net worth statement, it can give a clear picture of your present financial situation. Reviewing these tools together usually reveals where changes can or must be made to achieve your short- and long-term budget objectives.

TAX PLANNING FOR INDIVIDUALS

             FINANCIAL PLANNING

Investment Review 


       We can assist you in developing your investment strategy. We can help you and advice you on your investment portfolio and the impact of taxes for the production of favorable after-tax returns. As CPA's we are in the best position to understand our clients' financial picture. We understand the strategies that can be employed to reduce taxation and protect your assets and wealth:


  • Review your investment options
  • Identify your financial goals
  • Reduce taxation
  • Protect assets
  • Protect wealth



Accounting office of Ivy M. Davis, CPA, PFS, CFP® brings over a decade of service to clients in Melville, Dix Hills, Plainview, Huntington, Huntington Station, Great Neck, Glen Cove, Kings Park, East Hills, Floral Park, Bellerose, Queens Village, Hollis, Douglaston, Little Neck, Kings Point, New Hyde Park, Elmont, Valley Stream, Malvern, Lynbrook, Baldwin, Freeport, Merrick, Wantagh, Seaford, Massapequa, Massapequa Park, Farmingdale, Commack,  Bethpage, Stony Brook, Port Jefferson, Lindenhurst, Miller Place, East Williston, Williston Park, Mineola, Roslyn, Roslyn Heights, Garden City, Garden City Park, Stewart Manor, Port Washington, Sands Point, Plandome, Plandome Manor, Manhasset, Manhasset Hills, Great Neck, Glen Cove, Glendale, Sea Cliff, Lawrence , Hewlett, Hempstead, Uniondale, West Hempstead, Westbury, Old Westbury, Old Brookville, Bayville, Lattingtown, Muttontown, Woodbury, Syosset, Oyster Bay, East Norwich, Deer Park, Hicksville, Smithtown, Levittown, Nassau County, Suffolk County, Brooklyn, Queens, Bronx, Manhattan, Staten Island, Long Island, New York City.  1040 Income Tax Returns, Financial Planning. Retirement Planning, College Planning, Estate and Trust Returns. 

CERTIFIED FINANCIAL PLANNER

Education Planning - College Planning

Because of the significant amount of money required to fund your children’s future education, there is a need for recommendations that for the near future you consider maximizing your personal savings. How to fund college education costs should be reevaluated periodically.The trend of annual college costs outpacing inflation is expected to continue. There are many reasons why colleges find it difficult to hold down price increases from year to year. The main factors are continually increasing salary, maintenance, energy, technology, and recruiting costs, along with the quest to provide students with more sophisticated dormitories, dining halls, recreation and health care facilities, career centers, and campus security.  Because of the significant amount of money required to fund your children’s future education, there is a need for recommendations that for the near future you consider maximizing your personal savings.  How to fund college education costs should be reevaluated periodically.  The trend of annual college costs outpacing inflation is expected to continue. There are many reasons why colleges find it difficult to hold down price increases from year to year. The main factors are continually increasing salary, maintenance, energy, technology, and recruiting costs, along with the quest to provide students with more sophisticated dormitories, dining halls, recreation and health care facilities, career centers, and campus security. 






ACCOUNTING  SERVICES

International Taxation

       

The firm has experience with the taxation of US residents working abroad and foreign citizens working in the US has provided us with a broad base of knowledge in the area of international taxation. Our experience has been in working with individuals abroad including flight attendants, pilots, airline personnel, and business clients. Our office provides tax and business planning, consulting services to the international business community and U.S. taxpayers that will be working or investing in other countries.

 Financial Planning

A properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security. Preparation of personal financial statements, business financial statements, investment planning and retirement planning:

 Review your investments and options

  • Review your retirement goals
  • Identify your financial goals 
  • Reduce taxation through sound financial planning
  • Protect assets
  • Protect wealth