INDIVIDUAL TAX SERVICES

SERVICES THAT DRIVE

YOUR SUCCESS

Most business owners and high net worth individuals focus their attention on finding ways to increase revenue, streamline operations, enhance profits, and drive overall growth. When time is set aside to address tax optimization and planning, the focus is often on the needs and opportunities of the enterprise(s). While tax management is essential to the financial vitality of any business, attention must be directed toward individual taxes as well. Everyone involved in one or multiple LLCs, S-corporations, C-corporations, or partnerships, should be proactively managing their taxes to take advantage of opportunities throughout the year. Unfortunately, this all too often falls to the bottom of the list because owners often lack the time, expertise and/or resources to stay ahead of the curve.

  • Your Solution – Klatzkin

    Our team of tax professionals has years of experience advising business owners and high net worth individuals on optimizing their tax situation. We work with individuals in Lower Bucks County, Pennsylvania and across New Jersey to develop, implement, and manage their tax planning strategy. From federal and state tax compliance to estate and trust issues, our professionals stand ready to assist you.

  • Our Individual Tax Services

    • Preparation of federal and state tax returns
    • Tax planning
    • IRS & taxing authorities’ representation
    • Preparation of gift and estate tax returns
    • Analysis of tax consequences of transactions to achieve the best after-tax results
    • Estate and retirement planning
    • Estate plan review
    • Trustee and executor support services
    • College and other milestone planning
  • Let Us Help You Move Forward

    No one wants to pay more in taxes than they are obligated. For this reason, it’s important to work with an advisor that takes a 360-degree view of your tax exposure and provides the best advice possible. If you are looking for assistance with individual taxes or need a fresh set of eyes to guide efforts, Klatzkin can help. 

Industry Insights

COVID-19 Second Draw PPP Loan Essentials The Consolidated Appropriations Act, 2021 (CAA) was passed on December 27, 2020, and there has been anticipation surrounding changes to the Paycheck Protection Program (PPP). The funding has restarted the program for first-time applicants and created the opportunity to receive a second draw (PPP2) loan. The loan provides needed relief to those businesses, including hotels and restaurants that continue to struggle as the pandemic persists. Unfortunately, without guidance from the Small Business Administration (SBA), New Jersey and Pennsylvania businesses have been unable to act. Last week the SBA issued a new Interim Final Rule (IFR), which provides essential details regarding the PPP2 loan. Read Post
COVID-19 PPP Loan Guidance Issued for First-Time Borrowers The Consolidated Appropriation Act, 2021 (CAA) made several changes to the Paycheck Protection Program (PPP) to streamline forgiveness and make loans available for certain businesses. The changes include expanded eligibility, simplified forgiveness applications for loans less than $150,000, second draw loans, and affirmation of PPP forgiveness expense deductibility. However, without the details and specific guidance from the Small Business Administration (SBA), it has been unclear how companies should proceed. On January 6, 2020, the SBA issued an Interim Final Rule (IFR), Business Loan Program Temporary Changes; Paycheck Protection Program (PPP) as Amended by Economic Aid Act, that provides important details for first-time applicants. Read Post
COVID-19 Individual Provisions of the COVID-19 Relief Bill The long-awaited second round of COVID-19 relief has finally come to fruition. Earlier this week, President Trump signed the Consolidated Appropriations Act, 2021 (the Act) into law, providing needed relief for individual, non-profits organizations, and businesses. This is the second COVID-19 relief bill that has passed since the pandemic's first outbreak in March. While there are robust changes to the Paycheck Protection Program (PPP2) and business tax incentives, there were also important changes that directly benefit individuals. Read Post

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