Tax Planning

What is Tax Planning?

Tax planning is the process of reviewing your business entity, financial statements, and practices in order to determine which tax strategies can minimize your tax liability in the short and long run.

Our Tax Planning Process

As a Certified Tax Coach (CTC) Jim Gerner uses his training and years of experience to unpack your financial situation and work with you to create the best state and federal tax and financial strategy for your business based on your goals and needs. The tax planning process is designed to make sense of the nuances of your business and your goals. The process is broken down into four distinct phases: Discovery, Strategy, Implementation and Maintenance.


Our Discovery process is the beginning of the transformation of your business, laying the foundation for the rest of the tax planning process. Olympia Tax Service will evaluate your numbers: prior years’ tax returns, bookkeeping, and other relevant financial records. After a review of your financial situation we will see if tax planning makes sense for you, and have a conversation about what opportunities we see.


In the second step of the process, Strategy, Jim will dive deep into your books and put together a written plan to reduce your tax burden and make sure you are in compliance with the strategies developed. Jim will put together a Tax Playbook to guide you forward, and you’ll rest easy knowing you will get all the deductions you’re legally entitled to.


After you review the Tax Playbook, the next step is Implementation. Jim will use his expertise in the field along with his relationships with other financial professionals to put your new tax strategy into action. Olympia Tax Service will handle the implementation and documentation, and interface with specialists your strategy might call for including, but not limited to, attorneys (tax, estate, etc), cost segregation specialists, financial advisors, and insurance experts.


Once your unique tax strategy is in place it’s important to keep it going. The U.S. tax code is a living document, with changes and updates happening every year that affect your finances, both business and personal. Olympia Tax Service provides ongoing maintenance to your Tax Plan and Business Services means you will remain in compliance, continue to maximize savings, and keep your risk of audit low.

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Every business can benefit from tax planning. Let Olympia Tax Service help strengthen your business with our all in one Tax Planning package: Bookkeeping, Tax Preparation and Strategic Tax Planning all in one place, while you focus on running your business.

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