Entrepreneurs frequently encounter unexpected tax results during transactions or year-end planning. Most of these surprises originate earlier, as facts shift over time and decisions accumulate without being evaluated for tax impact.
The Tax Planning Program addresses this challenge by applying year-round, bespoke, comprehensive planning designed to identify opportunities early and reduce a member’s effective tax rate as an overarching objective.
Identifying Issues Before They Limit Options
Changes in ownership, trust activity, participation levels, and entity structure all affect tax outcomes. These developments occur throughout the year, not only when advisors are typically involved.
Semi-annual meetings and ongoing touchpoints help identify these issues when planning options are still available. This aligns with the purpose of the program: to capture opportunities between transactions and between tax years.
Clear Coordination Across Advisors
Tax surprises often arise when advisors operate with different assumptions. The TPP includes quarterbacking: Covello Tax Law coordinates with the client’s CPA, wealth advisor, family office, and legal team to ensure planning is integrated across disciplines. This helps prevent unintended results during due diligence, negotiations, or year-end reconciliation.
Adjusting Planning As Facts Change
Many tax rules depend on timing and sequencing. Certain decisions must occur in a specific order to preserve planning options. The TPP’s structure gives clients multiple opportunities throughout the year to reassess their facts and adjust strategies accordingly. This reduces reliance on rigid, event-driven planning and ensures strategies reflect current circumstances rather than outdated information.
Implementation That Moves Planning Forward
Because TPP membership includes basic implementation at no additional charge, members benefit from planning that is carried out, not left unaddressed. Documentation, forms, and administrative actions required to support planning ideas are completed as part of the program. This consistency reduces the risk of surprises that stem from incomplete or unimplemented planning.
Evaluation Of Outside Strategies
When members encounter planning ideas from peers or third-party advisors, Covello Tax Law evaluates them through the lens of the member’s actual facts and structure. This Tax Consigliere Advice helps clients avoid adopting strategies that may not fit their circumstances or that require additional context to be effective.
Visibility Into Planning Results
Annual scorecards provide a clear summary of planning ideas implemented throughout the year and how those decisions affected the client’s overall strategy. This improves understanding, supports long-term decision-making, and reduces uncertainty heading into major events such as a sale or restructuring.
Designed For Entrepreneurs With Complexity
The program is built for clients with multiple business and investment activities and either income of at least $1 million or control of assets valued at $30 million or more.
For these clients, ongoing planning provides clarity, coordination, and structure that reduces the likelihood of unwelcome tax outcomes.
