Relocating from New York to Texas is just the beginning of your tax planning journey. Ongoing tax advisory services help you maximize the benefits of Texas residency, minimize your overall tax burden, and ensure continued compliance with federal and any remaining state obligations.
Why Ongoing Tax Planning Matters
Even after you’ve successfully relocated to Texas, you face ongoing tax considerations:
- Federal tax planning (Texas residency doesn’t change your federal obligations)
- Multi-state income allocation (if you have NY-source income)
- Equity compensation timing (vesting, exercise, sale decisions)
- Business tax optimization (entity structure, deductions, credits)
- Estate and gift tax planning (federal estate tax still applies)
- Retirement account strategies (distributions, conversions, beneficiary planning)
Our Ongoing Advisory Services
Annual Tax Planning Reviews
We meet with you annually (or more frequently) to:
- Review your income sources and tax situation
- Identify tax-saving opportunities
- Plan for major financial events (business sale, large bonuses, stock options)
- Adjust estimated tax payments
- Coordinate with your CPA or tax preparer
Equity Compensation Planning
For clients with RSUs, ISOs, NSOs, or other equity compensation:
- Vesting strategies: Timing exercises and sales to minimize tax
- AMT planning: Managing alternative minimum tax on ISO exercises
- Qualified small business stock (QSBS): Maximizing Section 1202 exclusions
- 83(b) elections: Deciding whether to make early income recognition elections
- Concentrated stock positions: Diversification strategies that minimize tax
Multi-State Tax Compliance
If you maintain income sources in New York after relocating:
- Nonresident return filing: Ensuring you only pay NY tax on NY-source income
- Withholding management: Preventing over-withholding on NY income
- Convenience rule planning: Navigating NY’s aggressive sourcing rules for remote work
- Deferred compensation: Properly allocating income earned while a NY resident
Business Tax Advisory
For business owners:
- Entity optimization: Reviewing whether your current structure is still optimal
- Texas franchise tax planning: Minimizing or eliminating franchise tax liability
- Federal tax credits: Identifying R&D credits, work opportunity credits, etc.
- Retirement plan design: Setting up 401(k)s, SEPs, or defined benefit plans
- Succession planning: Preparing for eventual sale or transfer of the business
Real Estate Tax Planning
For clients with investment property:
- 1031 exchanges: Deferring capital gains on property sales
- Cost segregation: Accelerating depreciation deductions
- Opportunity zones: Investing in qualified opportunity funds
- Short-term rental strategies: Maximizing deductions while avoiding passive loss limitations
Estate and Gift Tax Planning
Texas has no estate tax, but federal estate tax still applies. We help you:
- Maximize lifetime gift exemptions (currently $13.99 million per person)
- Plan for estate tax law changes (exemptions may decrease in 2026)
- Structure trusts to minimize estate and generation-skipping transfer tax
- Coordinate with estate planning attorneys on tax-efficient wealth transfer
Estimated Tax Payment Management
Texas residents with significant non-wage income must make federal estimated tax payments. We help you:
- Calculate required quarterly payments
- Avoid underpayment penalties
- Adjust payments based on income fluctuations
- Coordinate federal and any state estimated payments
Retirement Distribution Planning
For clients approaching or in retirement:
- IRA and 401(k) distribution strategies: Minimizing tax on withdrawals
- Roth conversion planning: Converting traditional IRAs to Roth when tax rates are low
- Required minimum distributions (RMDs): Planning for mandatory withdrawals at age 73
- Social Security optimization: Timing benefits to minimize tax
- Qualified charitable distributions: Using IRA distributions for tax-free charitable giving
Tax Law Changes
Tax laws change constantly. We monitor:
- Federal tax legislation and IRS guidance
- Texas franchise tax updates
- Changes to New York tax law (if you have continuing NY exposure)
- Court decisions affecting your tax situation
Proactive vs. Reactive Planning
Many taxpayers only think about taxes when preparing their returns. By then, it’s too late to implement most tax-saving strategies. Our ongoing advisory services are proactive:
- We identify opportunities before year-end
- We model different scenarios to show tax impact
- We implement strategies while there’s still time to act
- We coordinate with your other advisors to ensure alignment
Coordination with Your Tax Preparer
We work alongside your CPA or tax preparer:
- We handle: Strategy, planning, complex tax issues, legal questions
- Your preparer handles: Return preparation, bookkeeping, routine compliance
This division of labor ensures you get specialized expertise where you need it while maintaining continuity with your existing tax professional.
What Ongoing Advisory Looks Like
Quarterly or Annual Meetings:
- Review financial developments since last meeting
- Discuss upcoming transactions or events
- Identify tax planning opportunities
- Adjust strategies based on law changes
Ad Hoc Consultations:
- Quick calls or emails when questions arise
- Review of proposed transactions before you commit
- Second opinions on advice from other professionals
Year-End Planning:
- November/December meeting to implement strategies before year-end
- Estimated tax payment review
- Income and deduction timing
- Charitable giving strategies
Pricing Models
We offer ongoing tax advisory through:
Annual Retainer: Fixed annual fee for unlimited consultations, annual planning meeting, and year-end review. Typical range: $3,000-$10,000 depending on complexity.
Hourly Consulting: Pay as you go for specific questions or projects. Typical rate: $350-$500/hour.
Project-Based: Flat fees for specific planning projects (equity comp analysis, business sale planning, etc.). Typical range: $2,500-$15,000.
Who Benefits Most
Ongoing tax advisory is most valuable for:
- High-income professionals (W-2 income over $250,000)
- Business owners with complex tax situations
- Individuals with equity compensation
- Real estate investors
- Those with multi-state income or property
- Anyone facing major financial transactions
The ROI of Tax Planning
Good tax planning typically saves 3-10 times its cost. A $5,000 annual advisory retainer that saves you $25,000 in taxes is a 5x return on investment. Over time, the cumulative savings can be substantial.
Getting Started
If you’ve recently relocated to Texas or you’re planning to move, ongoing tax advisory ensures you maximize the benefits of your new residency while staying compliant with all federal and state obligations.
Our team provides the strategic guidance you need to make informed decisions, minimize your tax burden, and build wealth more efficiently.
Contact us today to discuss how ongoing tax planning can benefit your specific situation.
