Retirement Planning in The Las Vegas Central

Retirement is a goal that many look forward to, and others dread. With proper planning, retirement can be an exciting and relaxing time where you do what you choose to do. This does not mean you will be idle or not work. You can work as you wish.

A failure to plan for financial freedom, however, could push this eventual goal out of reach. Then you could wind up working even if you don’t want to. Retirement takes a bit more planning than just deciding to call it quits at the office, and book your trip around the world. For a stress-free retirement, you need to consider:

  • How much do you currently have saved?  Knowing how much you currently have set aside for retirement will help you determine how much more you need to save to both maintain your current lifestyle and have enough for a comfortable retirement.
  • What are your retirement plans?  Do you want to travel the world or are you more interested in relaxing at home and tending to your garden? The type of lifestyle you plan to pursue in retirement will affect how much you need to save.
  • Will you have additional sources of income?  Once you leave the office, how much income will you be bringing in from social security, pensions, or other investments?
  • Do you have healthcare coverage?  As you age, healthcare needs can increase which will lead to more medical bills, so it is a good idea to think about future healthcare costs.

Torchlight Tax is the  tax and accounting company in Las Vegas Central you can count on to help you figure out the answers to these tough questions. When it comes to retirement, Torchlight Tax can help you:

  • Set up budgets to maintain your current lifestyle
  • Reach savings goals
  • Manage your wealth and investments
  • Plan and prepare your taxes
  • Add new avenues of income

Don’t let a failure to plan lead to failed retirement goals. For retirement planning, financial planning, estate planning, and more, contact us.

Call us at 1-877-758-7797 or 702-463-1818 or email us at info@TorchlightTax.com. We can transfer your call to a branch office near you or help you directly from our central office. Free consultations are available

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    Why Torchlight Tax

    Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Torchlight Tax, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from bookkeepers and other tax preparers by stringent qualification and licensing requirements. Our entire team has a purpose to legally save your tax dollars and to make taxes as painless as possible. This means we take your calls and respond to your concerns. If you receive a threatening IRS call or Notice or are worried about some tax question, we are here for year round taking your calls and responding to your emails.

    Upgrade to a full-service Tax Firm

    Whether you are filing personal, small business, or corporate taxes, or negotiating IRS tax debt, if you are not already using a professional Tax, Accounting and IRS Representation firm, you most likely have missed out on major tax benefits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who can also advise businesses and corporations of all sizes and types. Tax laws are complicated, and no one knows everything. Torchlight Tax is a team and any one of our tax pros can call on other EAs, CPAs and Tax Attorneys in the team who may have specialist knowledge in a specific area of tax.

    Amendments

    When doing current taxes, we often come across missed tax savings from prior years. When this happens, the Internal Revenue Service allows you to amend your taxes and lower your tax liability. Whether you or your prior tax preparer missed a W-2 or 1099, a revised 1099. large charitable donations, or made some other error, amending your tax return can help you recover the money you are rightfully owed. When we find this situation, we will advise you on potential savings and amend the previously filed tax return.</p”>

    Sometimes, there may be a situation where a tax return could be amended, but it is too late to receive any benefit. Or maybe you made an error that was missed by the IRS that would have increased your tax liability. In some cases, it is prudent to file an amended return. But if it is not necessary and will not save you any money or decrease your risk, we will tell you not to bother. It is silly to amend a return to no advantage which is too old for the IRS to audit. Some firms might file a bunch of unnecessary tax returns and charge a fee. Sometimes a taxpayer himself might increase his tax liability by filing an unnecessary amendment that increases his tax liability. We will not do this.

    Amending a tax return requires more professional acumen then doing it right in the first place. At Torchlight Tax, we do file the tax return correctly the first time. And we will happily amend your tax return, but only if it actually is to your benefit. If you think you might need to amend tax returns, contact Torchlight Tax for a free consultation.

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