Tax Planning - Keep More of What You Earn
Whether you are saving to fund a child’s education, pay for your healthcare, fund your own retirement, or fund a legacy for your heirs-- there are opportunities to minimize current and future wealth erosion to income taxes. While CPAs are your first line of defense in tax planning, we often find they don’t have a complete picture of your finances or may lack the time for individual, in-depth tax planning.
Understanding the ever-changing income tax code is part of our job as your financial advisor. We understand how our clients’ investments are structured tax-wise, how they may use the various tax advantaged options available for reaching specific goals, and how to develop a customized comprehensive tax and investment strategy that combines investment growth with tax minimization.
Traditional IRAs, Roth IRAs, Beneficiary IRAs, individual brokerage accounts, joint accounts, HSAs, 401ks, 403bs, etc. all have their own tax characteristics and rules. We help you understand and navigate these rules.
When you’re accumulating wealth, it’s important to match your investments with the correct account type to ensure optimum tax-efficiency and provide the highest after-tax returns possible.
Certain investments should be held in tax-deferred Traditional IRAs or 401ks, while others are more suitable for tax-free growth inside a Roth IRA. If you need to keep taxable income down, municipal bonds and tax-efficient Exchange Traded Funds (ETFs) may be appropriate in a taxable individual or joint account. If expecting sustained growth over a long time-horizon, a Roth IRA may be more appropriate.
When we build a financial plan, we match your investment strategy to the type of account that provides the most tax efficient returns.
When you retire, we work with you to develop a withdrawal strategy that minimizes current taxes. We help determine which accounts to draw income from first and how to use those income tax savings to manage and reduce future income tax liability. We'll also help you find better ways to use the assets you already have to meet other financial goals and coordinate with your CPA to manage your income tax liability and ensure we’re all on the same page.
Taxes are a drain on your investments and the long-term growth of your wealth. An income tax rate of 20% or more over your working lifetime could reduce the total wealth you’re able to accumulate by tens, or even hundreds, of thousands of dollars. Implementing a cohesive tax and investment strategy will keep dollars in your pocket and portfolio by bringing these previously unrelated aspects of your financial life into sync.
If you recognize the need for quality tax planning, use the form below to contact us and schedule a free, no obligation initial consultation.
Understanding the ever-changing income tax code is part of our job as your financial advisor. We understand how our clients’ investments are structured tax-wise, how they may use the various tax advantaged options available for reaching specific goals, and how to develop a customized comprehensive tax and investment strategy that combines investment growth with tax minimization.
Traditional IRAs, Roth IRAs, Beneficiary IRAs, individual brokerage accounts, joint accounts, HSAs, 401ks, 403bs, etc. all have their own tax characteristics and rules. We help you understand and navigate these rules.
When you’re accumulating wealth, it’s important to match your investments with the correct account type to ensure optimum tax-efficiency and provide the highest after-tax returns possible.
Certain investments should be held in tax-deferred Traditional IRAs or 401ks, while others are more suitable for tax-free growth inside a Roth IRA. If you need to keep taxable income down, municipal bonds and tax-efficient Exchange Traded Funds (ETFs) may be appropriate in a taxable individual or joint account. If expecting sustained growth over a long time-horizon, a Roth IRA may be more appropriate.
When we build a financial plan, we match your investment strategy to the type of account that provides the most tax efficient returns.
When you retire, we work with you to develop a withdrawal strategy that minimizes current taxes. We help determine which accounts to draw income from first and how to use those income tax savings to manage and reduce future income tax liability. We'll also help you find better ways to use the assets you already have to meet other financial goals and coordinate with your CPA to manage your income tax liability and ensure we’re all on the same page.
Taxes are a drain on your investments and the long-term growth of your wealth. An income tax rate of 20% or more over your working lifetime could reduce the total wealth you’re able to accumulate by tens, or even hundreds, of thousands of dollars. Implementing a cohesive tax and investment strategy will keep dollars in your pocket and portfolio by bringing these previously unrelated aspects of your financial life into sync.
If you recognize the need for quality tax planning, use the form below to contact us and schedule a free, no obligation initial consultation.
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