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keeping your hard earned dollars in your pocket

Tax Planning

Although we do not provide tax advice, as a part of a comprehensive financial approach we offer tax planning strategies while working closely with your CPA or tax consultant. By looking at your prior year’s returns and paystubs, we can spot efficiencies which may provide you with extra money to invest, pay down debt and/or save for retirement. In some cases we can help business owners  efficiently transfer assets from your business balance sheet to your personal balance sheet. We also identify when tactics like tax-loss harvesting may be useful to you in managing the impact of taxes on your financial efforts, and free up cash you otherwise would not have had.

We use specialized software programs combined with our years of experience to keep as much of your hard earned dollars in your pocket as allowed. It's not just about working with your CPA (or one of the professionals in our referral network) to prepare tax returns - it's a forward looking approach to strategize with your tax team on the tax implications of your important financial and business decisions before you make them.

For those of you in or near retirement, some folks are surprised to find that they owe taxes in retirement; some even pay taxes on Social Security! That’s why tax planning is imperative for the retiree, especially in the years leading up to retirement, when it may be possible to use Roth conversions, essentially paying taxes during low-income years to mitigate income taxes later. When it comes to qualified retirement money in accounts like 401(k)s and traditional IRAs, RMDs (Required Minimum Distributions) come into play yearly starting at age 72. You have to start taking money out of these accounts following strict guidelines. These are the types of challenges we discuss and include in our planning services.

Individuals should consult with a professional specializing in the fields of tax, legal, accounting or investments regarding the applicability of this information for their situation. Past performance is not a guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested.