Tax Planning
Similar to the planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits—but only if it’s done professionally and the earlier in the wealth accumulation cycle the better.
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Our Tax Planning philosophy is not centered around tax avoidance (which is actually illegal) but rather on helping you structure your finances so that, over the course of your lifetime, your taxes are minimized.
Tax Planning is Time-sensitive
Delayed tax planning means missing out on savable dollars of your hard-earned money. The longer you defer tax planning, the more money you’ll end up owing and paying in taxes. That money could potentially have been saved through a reduced tax bill, invested, and grown through the magic of compounding over many years.
What We Can Do for You
- Roth conversions
- Tax-loss trading and harvesting
- Capital gains timing
- IRA distribution planning
- Asset location analysis
- Cash flow planning
- Gifting strategies & legacy planning
- Estate planning
- much more
We help our clients through long-term Tax Planning strategies. Tax planning does not commence on the date of filing your tax returns. Prudent tax planning often starts long before – sometimes even before you make investment decisions that trigger a tax liability. We can help devise tax planning strategies that minimize taxes, maximize tax refunds, and guide you to optimize your tax-friendly investment returns.
Here’s what we can do for you through our Tax Planning service:
- Our sophisticated tool can model any what-if scenario. Starting with your most recent return we can determine the net effect of changes to any of the inputs in real time.
- While the best advice you can get is: Save. Save. Save…as much as you can; the next best advice is to be careful how you invest those savings. Our Tax Planning advice will include considerations on whether you should invest with pre-tax dollars or post-tax income. How you invest and in what types of vehicles can make a significant difference to the taxes you pay. Our Tax specialists can help you navigate the various advantages and disadvantages of choosing one strategy over another.
- When planning for the tax impact on your income, we’ll also plan for the types of income that you might receive: dividends, interest, annuity payments, capital gains, inheritance, and employer or government benefits. While all of these are potential income streams in retirement and before, each has different tax planning implications.
- We will help you foresee impacts on your future net wealth. If left unplanned, your net wealth could be diminished due to likely claw-backs to benefits and the possibility of erosion to your estate through substantial taxes.
- We’ll help you mitigate possible tax impacts on your estate. A good tax plan will ensure that future generations do not bear the burden of taxes as a result of the legacy you leave them. But to ensure a tax-advantaged inheritance to your beneficiaries, you need to put appropriate plans in place NOW. Tax planning must be tightly integrated estate planning for high-net-worth clients.
