Thoughtful discussions centered on financial goals, tax awareness, and long-term planning needs.
Tax Favored Solutions
Proactive Tax Planning and Financial Advisory
Tax Favored Solutions provides tax planning, tax strategy, and financial advisory guidance for individuals, families, and business owners seeking efficient, compliant, long-term planning.
Business financial guidance and proactive planning built around your goals, current financial picture, and the need for practical, compliant strategies.
- (646) 208-0999
- info@taxfavoredsolutions.com
- 401 Franklin Ave - Suite 302, Garden City, NY 11530
About
Gregory Scheinberg
Gregory Scheinberg provides financial guidance through a structured, planning-focused approach centered on clarity, organization, and long-term alignment.
His work focuses on helping individuals, families, and business owners evaluate tax strategy, financial advisory options, and broader planning decisions based on their goals, time horizon, and overall financial priorities.
Conversations are designed to be clear, practical, and aligned with each client's unique situation, with an emphasis on proactive planning and compliant strategies rather than last-minute reactions.
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Proactive Planning, Not Just Reactive Filing
Financial decisions can be complex. Our role is to provide structured guidance that helps you review tax planning, financial strategy, and business financial guidance opportunities before they become urgent.
Practical explanations designed to help you evaluate options in a more organized, compliant way.
Planning & Services
How We Help
Explore the planning categories below to see how Tax Favored Solutions approaches tax planning, tax strategy, financial planning guidance, business tax consulting, and long-term tax optimization for personal, family, and business needs.
Tax Favored Solutions uses its Tax Favored Blueprint process for individuals and businesses to help make sure financial resources are being utilized wisely.
The return you are generating is not the only consideration. The broader objective is using your full financial position in a manner designed to help avoid erosion of wealth, improve earnings relative to tax liability, and build a strategy that uses assets as resources toward those ends.
Tax Favored Blueprint is about taking simple outcomes and solving the complex problems that can stand in the way of achieving them.
Tax Favored Blueprint for Individuals
- We collect basic information on your financial picture.
- We listen to your individual goals.
- We review your overall financial picture, including items such as marital status, income needs, tax picture, and current allocations.
- We evaluate tax-free options first, then tax-deferred options, and then the minimum taxable options.
- We build a strategy intended to make better use of your assets and opportunities.
Tax Favored Blueprint for Businesses
- We collect basic information on your financial picture.
- We listen to your business strategy and individual goals.
- We identify money that may be better allocated rather than lost through unnecessary taxes, expensive benefits, or unnecessary expenses.
- We review your tax landscape, family involvement in the business, and other opportunities that can be integrated into planning.
- We focus on available tax credits, tax deductions, and other tools that remain consistent with your strategy and goals.
- We define a financial strategy that can be integrated into the business using legal, tax, and financial tools.
As the details of a situation become clearer, strategy often depends on the coordinated work of multiple professionals.
While family needs can vary widely, some of the most important concerns often include life insurance, planning for college, and retirement planning.
The Tax Favored Blueprint process explores these areas and many others to understand what matters most for your family and to shape a planning strategy around those priorities.
Life Insurance
Once you have a spouse or children to be concerned with, death can become an even more significant financial issue. Life insurance can provide surviving family members with increased financial security through a tax-free lump sum that may help cover final expenses, debts, and income needs.
- An instant estate for loved ones at a time when funds may be most needed
- Death benefits that are almost always non-taxable for named beneficiaries
- A way to avoid probate costs when a beneficiary is named other than the estate
- Potential creditor protection through some life insurance plans
- Tax-advantaged capital for retirement or liquid savings through some permanent life insurance plans
Planning for College
As the cost of college continues to rise faster than inflation, saving early can become increasingly important. Questions often arise about the best way to save and who should own the funds.
Time horizon, risk tolerance, investment preferences, tax situation, and financial aid considerations all play a role in selecting an appropriate college savings approach.
Retirement Planning
Retirement planning today includes longer life expectancy, income needs that may last for decades, healthcare costs, and estate considerations.
Lifetime Income Need
A retirement plan may need to support a stream of income that cannot be outlived while also accounting for cost of living changes.
Health Care Needs
Medicare can provide a base layer of support, but long-term care and chronic illness planning often remain important considerations.
Estate Protection
Planning for transfer of assets can involve wills, settlement costs, death taxes, and the financial security of survivors.
Paying for Retirement
Retirement income may come from Social Security, employer-sponsored qualified plans, and personal savings and investments.
Employer-sponsored qualified plans, Traditional IRAs, and Roth IRAs each bring different tax treatment, withdrawal rules, and planning considerations.
Tax Favored Blueprint looks at finances as the starting point for goal setting. Along with insurance and investment choices, money management strategies can shape how savings are handled on a day-to-day basis.
For individuals, the focus generally centers on saving, tax planning, and insurance.
Saving
Different life stages create different savings priorities. Younger individuals may be balancing long investment horizons with debt loads, growing families may be saving for children, and retirees may be shifting toward managing income and assets already built.
The objective is to help balance savings and investing with the other commitments that come with each phase of life.
Tax Planning
Taxes are a major part of the financial picture. With the support of a tax advisor and coordinated planning, items such as charitable contributions, life insurance policies, and investment products may all play a role in a broader tax strategy.
- Income-splitting for spouses or common-law couples
- Charitable donations that support important work while allowing donors to improve tax credits
- Life insurance products that build tax-advantaged capital for retirement
- Investment products that provide tax-efficient benefits
Planning can also incorporate deductions already available and planning steps that may improve deductions in future years.
Insurance
Insurance can be an essential part of a comprehensive financial plan. Death, disability, or critical illness can affect almost any household, and insurance is often one of the tools used to reduce hardship.
Planning may include life, long-term care, disability income, critical illness, medical, dental, and group health benefits, with combinations structured around the situations that carry the most risk.
Business owners often face tax laws, employee issues, client demands, and profitability concerns all at once, which can make it harder to step back and address broader financial planning.
Tax Favored Blueprint combines business and personal planning considerations to help shape strategies around growth, risk management, and long-term transition planning.
Financial Planning for Business Owners
Business owners face unique planning opportunities, from complex tax planning to lines of credit and the realities of self-employment. The objective is to build a strategy that reflects the unique financial structure of the business owner.
Benefits Plans
A benefits package can influence the ability to attract and retain talent. Planning may include group medical insurance, disability coverage, transportation benefits, and life insurance options within the context of the company's broader strategy.
Executive Compensation
Retaining executive talent may require thoughtful incentive structures. Planning can include Nonqualified Deferred Compensation, Executive Bonus, and Split Dollar Life Insurance, along with other arrangements that align the business and key employees around the future of the company.
Key Employee Protection and Retention
The loss of a key employee can disrupt operations and create replacement costs, earnings pressure, and ownership issues. Insurance and related planning can help address those risks before they become business-threatening.
Business Succession Planning
Succession can be planned or unplanned. Buy-sell funding, ownership transition, estate equalization, and conversion of business equity into retirement capital are all examples of issues that succession planning may need to address.
Retirement Planning
For many owners, the business is a primary retirement asset. That can create concentration risk if retirement depends on selling at the right time and value. Qualified and nonqualified plan options may provide additional structure for retirement income planning.
Tax Favored Solutions uses a broad array of products and services across several categories, while the Tax Favored Blueprint process helps identify and source more customized options when needed.
Insurance
- Life insurance
- Long-term care, disability income, and critical illness insurance
- Medical and dental insurance
- Group health benefits
Retirement Planning
- Lifetime income need
- Health care needs
- Estate protection
- Paying for retirement
- Employer-sponsored qualified plans
- Traditional and Roth IRAs
Business Planning
- Key employee protection
- Business succession planning
- Business owner buy-sell agreements
- Potential sale planning
- Entity plans
- Cross purchase agreements
- Tax planning strategies
- Major capital purchase planning
- Employee attraction and retention
- Benefits, deferred compensation, and executive compensation
Asset Allocation Planning
- Investment and financial services
College Savings
- 529 plans
- Cash value life insurance
Trust & Fit
Why Tax Favored Solutions
The firm works with clients who want a structured, professional approach to tax planning, financial advisory discussions, and long-term decision-making. Guidance is tailored to each client's goals, existing obligations, and overall financial picture.
- Individuals and families seeking proactive planning instead of only reactive filing conversations
- Business owners looking for business tax strategy and broader financial guidance
- Clients who want compliant strategies aligned with long-term efficiency and real-world goals
Our Process
Our Process
Discovery
We begin by understanding your current situation, goals, and priorities.
Strategy Review
We walk through potential strategies and explain available options.
Implementation
If appropriate, we assist in implementing selected strategies.
Ongoing Review
Periodic reviews to ensure alignment with your evolving goals.
FAQ
Common Questions
What is proactive tax planning?
Proactive tax planning means reviewing income, savings, business activity, and long-term goals in advance so compliant strategies can be evaluated before filing deadlines arrive.
Do you work with business owners?
Yes. Tax Favored Solutions works with business owners on planning conversations related to tax strategy, business financial guidance, succession considerations, and long-term financial efficiency.
How is tax strategy different from tax filing?
Tax filing reports what already happened. Tax strategy focuses on planning ahead so financial decisions can be evaluated in the context of taxes, cash flow, and long-term objectives.
What types of clients do you help?
The firm works with individuals, families, and business owners who want structured financial advisory conversations, tax-aware planning, and guidance tailored to their overall financial picture.
Consultation
Start the Conversation
Schedule a complimentary consultation to discuss your financial goals and explore available strategies.
No obligation. Structured, professional discussion.
Email: info@taxfavoredsolutions.com
Phone: (646) 208-0999
Office: 401 Franklin Ave - Suite 302, Garden City, NY 11530
Regulatory Disclosures
Important Relationship Information
For transparency, clients and prospective clients can review the applicable Form CRS documents below. These summaries explain the types of services offered, fees, conflicts of interest, and other important relationship information.
Advisory Form CRS
Describes the investment advisory relationship, including services, fees, and other important disclosures.
Broker-Dealer Form CRS
Describes the broker-dealer relationship, including services, compensation structure, and other important disclosures.
These documents are provided for informational and regulatory disclosure purposes.