Tax Planning
What is Tax Planning?
Do you know how much you actually pay in taxes every year? If you're like most people, you do your taxes every Spring, but do you actually understand them? Or do you think you "won" if you get money back and "lost" if you have to pay?
While we do not offer specific tax advice, our goal is to be able to show you ways to clearly communicate with your Tax Professional different opportunities to minimize your lifetime tax bill.
How We Can Help
We can help our clients by working alongside them and their Tax Professional to help find areas of opportunity to save on tax payments.
Run Tax Projections and Estimate Your Tax Liability
Tax Sensitive Investing - Assess the Short-and-Long Term Impact of Various Tax Strategies on Your Finances
Consider Opportunities to Minimize or Offset Taxes Including:
Tax Loss Harvesting
Potential Roth Conversions
Health Savings Accounts (HSA)
Review Annual Gifting Opportunities
Work With Your CPA - Make Sure You Are Taking Advantage of ALL Tax Minimization Strategies.
(Note: Each Tax Report will vary from client to client depending on individual situations.)
Click below for a Tax Report for a Sample Client
Tax Bracket Management
Asset Location
Tax Loss Trading and Capital Gain Harvesting
Retirement Distribution Planning
Roth Conversions
Social Security/Medicare IRMAA Advice
Developing an Estate Plan
Missed Retirement Plan Contributions
Common Missed Tax Planning Opportunities
Do I Need Tax Planning?
The short answer is YES!
Long-term relationships that encourage open and honest communication have been the cornerstone of our foundation of success- this is why we feel Tax Planning should be incorporated into how we help our clients. We feel there is never a reason to pay more taxes than what is legally required. Reach out today to find out how we can help!