Topeka Taxation Attorneys
Based in Topeka, Coffman, DeFries & Nothern, P.A. has been providing tax planning advice to individuals throughout Kansas for more than 60 years.
Northeast Kansas Individual Income Tax Lawyers
Coffman, DeFries & Nothern, P.A. has grown into one of the most respected tax practices in the state of Kansas.
The firm's attorneys have concentrated experience and knowledge in both state and federal tax laws. Attorneys R. Austin Nothern and Lance A. Weeks hold Master of Law degrees in taxation. CDN uses this in-depth understanding of tax law to advise its clients on the most effective ways to reduce their taxes.
Helping Clients Throughout Kansas Reduce Their Income Taxes
Since 1949, Coffman, DeFries & Nothern, P.A. has been helping individuals throughout Kansas create tax plans that reduce their income taxes and help them achieve future financial goals.
The attorneys at CDN thoroughly evaluate each client's unique financial circumstances, his or her current tax savings goals and their financial goals for the future to create strategic tax savings plans. By assisting clients with calculating qualified retirement and charitable contributions, and shifting income to future tax years and lower tax-bracket taxpayers, CDN helps clients save money.
Coffman, DeFries & Nothern, P.A. also helps clients obtain private letter rulings (PLRs) from the IRS to ensure the positions clients take on their tax returns will be viewed favorably by the IRS.
Contact the Topeka taxation lawyers of Coffman, DeFries & Nothern, P.A. at 785-234-3461.
Topeka Individual Tax Planning Attorneys
Based in Topeka, Coffman, DeFries & Nothern, P.A. has been helping individuals throughout Kansas reduce their income tax liabilities for more than 60 years. CDN's experienced tax professionals help clients make smart decisions that save current tax dollars and fit into their overall financial plans.
Experienced Kansas Income Tax Attorneys
A few simple tax planning strategies can help individuals reduce their Kansas income tax liabilities and prepare for retirement. There are three overall methods used to reduce individual's overall income taxes – reducing taxable income, shifting tax liabilities to future years and shifting income to taxpayers in lower income tax brackets.
The less taxable income you earn, the less taxes you pay. By taking advantage of retirement savings tools, maximizing deductions and taking advantage of tax credits, individuals can often reduce their overall taxable income.
Shifting the timing of taxable events to future years with lower projected taxable income can reduce the amount of income tax individuals pay. Selling appreciated assets, converting investments, maximizing charitable deductions and, again, contributing to qualified retirement plans are all methods that shift taxable income to future years.
Northeast Kansas Retirement Planning Lawyers
One of the best ways to reduce your taxable income is to make contributions to qualified retirement plans.
The Internal Revenue Service (IRS) gives favorable tax treatment to qualified retirement plans. Contributing to a traditional 401(k) or IRA will reduce your taxable income for the current year, and contributions to Roth 401(k)s and Roth IRAs help reduce tax liabilities down the road.
Depending on how much income you earn, your retirement contributions may qualify you for the Savers Credit. Self-employed individuals can reduce their overall tax liabilities by contributing to Keogh plans.
Contact the Topeka individual tax planning lawyers of Coffman, DeFries & Nothern, P.A. at 785-234-3461.
Topeka Charitable Gift Planning Attorneys
For more than 60 years, Topeka-based Coffman, DeFries & Nothern, P.A. has been helping individuals throughout Kansas develop charitable giving strategies that maximize their charitable deductions and reduce their income tax liabilities.
Northeast Kansas Charitable Donation Strategy Lawyers
Charitable donations are great tax savings tools. Not only do they reduce taxpayers' taxable income through charitable deductions, but based on the nature of the property donated, they may result in even larger tax savings to the donor.
There are many factors to consider when developing a charitable giving plan. In order to maximize the tax benefits brought by your charitable donation, the nature of the property and the effects of its contribution must be fully understood. Donations of real estate, publicly listed stock, income-producing property, depreciable property and appreciated properties that produce capital gain all have unique tax implications.
The attorneys at Coffman, DeFries & Nothern, P.A. have in-depth experience with federal and Kansas tax law. Clients turn to CDN when they need strategic tax savings plans that help them save current tax dollars and achieve future financial goals.
Experienced Kansas Tax Attorneys
Tax decisions made today have the ability to affect long-term financial health. Through diligent investigation and solid preparation, CDN helps its clients maximize their charitable deductions while achieving their future financial goals.
Deferred charitable giving allows you to reduce your current year's income through a charitable deduction while continuing to benefit from the donated property or funds. There are several methods – pooled income funds, charitable remainder trusts and charitable gift annuities – available to affect these transactions.
Contact the Topeka charitable gift planning lawyers at Coffman, DeFries & Nothern, P.A. Call today at 785-234-3461.