HERITAGE PLUS FINANCIAL, INC. - An Alliance of Professionals - Income Tax, Business, Financial, Legal

Heritage Plus Financial, Inc.
13211 Jones Road
Houston, TX  77070
Office: (281) 894-0499
Fax: (281) 890-1329

Financial Health Check

For your own peace-of-mind and plan of progressive security, you should know the answers to these questions.  If you don’t, we can help.  Please give a call to us to schedule a free consultation to help you begin the path of financial security.


  • Should I adjust my payroll withholdings?
  • Will my investment interest be deductible?
  • How much self-employment tax will I pay?
  • How much of my Social Security benefit might be taxable?
  • Should I itemize or take the standard deduction?

Payroll & Benefits

  • How much will my company bonus net after taxes?
  • How will payroll adjustments affect my take-home pay?
  • What is the future value of my employee stock options?
  • Should I exercise my ‘in-the-money’ stock options?
  • What is the impact of increasing my 401(k) contributions?

Qualified Plans

  • How much can I contribute to my IRA?
  • What is my current year required minimum distribution?
  • What are my projected required minimum distributions?
  • What are my lump-sum distribution options?
  • How do I maximize my employer 401(k) match?
  • What is the impact of borrowing from my 401(k) plan?
  • What is the impact of early withdrawal from my 401(k)?
  • What is my maximum self-employed retirement plan contribution?

Do you know….

  1. What are all the tax deadlines you must abide by for your business in order to avoid monetary penalties?
  2. If you need a distribution of capital gains, what source of funds will you chose contingent upon timing and new beneficial tax law changes, such as the increase in AMT exemptions, to maximize your tax savings?
  3. If you are about to incur educational expenses, what are the amounts and requirements to apply for the tax credits?  Does your child work for your company?  Which plan allows you to pay for educational expenses, each year, as a non-taxable fringe-benefit which also allows you to have a business deduction? 
  4. Are you thinking about a start-up business?  Will you hire your children to provide a business deduction that lowers taxable income and self-employment tax, as well, enable your child to avoid income taxes on wages paid up to the federal standard deduction?  Will you hire your spouse to take advantage of a tax-free fringe benefit of reimbursed medical expenses from your business income?
  5. Is a limited partnership better for you to avoid paying franchise taxes?  Would you like to incorporate, C or S selection?  What are all of the tax consequences and savings of entity establishment which will most benefit you?
  6. What is the maximum allowable expense election for equipment for your business to help you grow?  Do you need to move income to tax-sheltered accounts?
  7. What is your AGI?  Contingent upon this number, how do the new tax laws affect you in regard to personal exemptions, Roth IRA contributions, itemized deductions, child tax credits, student loan interest deductions?  Therefore, what is the best plan of action to take advantage of deductions, credits, and other tax breaks before the AGI limit phases them out for the best tax planning and savings?

Ask a professional for Immediate Answers.