Income Tax Preparation and Planning


Tax Preparation

Downey Financial Group has been preparing tax returns for over 15 years and regularly completes hundreds of personal and corporate returns.  Our clients call it “One of the best values in Chicagoland!” Beyond the quality of our work, many clients love our competitive pricing – usually a fraction of what they have paid in the past to have their taxes prepared by a CPA.

Would you like a quote on your tax preparation?  In many cases we can give you quote based on reviewing your tax return from last year. Contact us and we would be happy to take a look!

Tax Planning

One of the biggest concerns we hear from new clients is rising taxes.  It is the combination of our CPA tax professionals working alongside our financial advisors that makes our firm so effective in tax planning.  In today’s volatile tax environment, you need a firm that can help protect you from over taxation. You may ask yourself:

“Why would I want Downey Financial Group to do my taxes when I can do them myself?”  or… “I already have a CPA doing my taxes. Why change?”

For most of us getting our tax return completed is a pain, but Downey Financial sees it as a big opportunity!  It is the chance to see if we can help lower your income taxes for the future.  Most accountants are focused on getting your taxes done correctly for what happened last year, as fast as possible.  They are NOT usually focused on giving you tax planning recommendations for this year, or the future.  It is not their fault – typically they do not have time in tax season for client tax planning.

Once your tax return is completed by the CPA our Financial Advisors use a key tax planning software tool in the delivery meeting called ‘Tax Clarity’.  This program can give you a hypothetical ‘What if’ scenario to see how changes in your financial life could impact your taxes for the future.  The tax laws change almost every year.  ‘Tax Clarity’ has become a vital tool for our clients to plan their best new tax move.  Your scenarios are run live for you at the tax return delivery meeting and the analysis is included at no additional charge.  Does your current Financial Advisor have CPA’s preparing your taxes combined with scenario tax planning?  If not, how can they give you sound tax planning advice?

Your income tax story does not have to be written by the IRS alone. There are strategies and planning that should go hand in hand with your long term retirement income goals. We believe that good tax planning is a critical part of your long term plans, and that is why we have been preparing taxes for the public since 2002. You need to be aware of the opportunities and dangers that exist for you in the tax code.