Banks and Associates, Inc.Certified Public Accountants and Business Advisors
(301) 277-1003
(301) 560-8854

Contact Info

  • Banks & Associates, Inc
  • 5634 Annapolis Rd,
  • Bladensburg, MD 20710
  • (301) 277-1003
    (301) 560-8854

Tax Planning

Tax planning is the real key to beating the IRS legally. We go beyond tax compliance and proactively recommend plain English concepts and strategies to maximize your after-tax income.

We are constantly working to enhance our master of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.

Our clients pay least tax allowable by law because we continually look for ways to minimize your taxes throughout the year-not just on April 15.

Most accountants do a fine job filing tax returns getting the right numbers in the right boxes on the right forms. But that is not enough. The real secret to managing taxes is planning; Banks Akinbinu is fully dedicated to all planning tools so as to save clients money.

We recommend tax-saving strategies to help you:

  • Grow and preserve assets by keeping Uncle Same out of your pocket.
  • Defer income so you can keep your money now and pay less taxes later.
  • Reduce taxes on your income so you keep more of what you make.
  • Reduce taxes on your estate so your family keeps more of what you've made.
  • Reduce taxes on your gifts so you can give more.
  • Reduce taxes on your investments so you can grow your wealth faster.
  • Reduce taxes on your retirement distributions so you can retire in a good life style.

Has your current accountant discussed strategies like these with you?

  • Splitting income between family members or legal entities In order to get more of the income taxed in a lower bracket.
  • Shifting Income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
  • Deferring taxes through certain investment choices such as pension plans, contributions and other similar plans.
  • Choosing appropriate investments to produce income that is tax exempt from either federal or state or both taxing authorities.
  • Further tax deductions by structuring your money to pay for things you enjoy, such as a vacation home.
Remember, we work for you not for the IRS. Many of our clients save many times the fee in reduced tax liability through careful planning and legitimate tax strategies.

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