Tax Planning

Tax planning begins with creating investment portfolio strategies to minimize your tax liability. Executing client specific strategies can minimize your tax burden and is a year-round process, not something which should be done right before the tax due date.


Tax planning offers many benefits for you and even your heirs when done properly. 


Benefits include:


•    Lowering tax liability. Tax focused investment strategies can reduce your liability for income tax as well as any investment gains or wealth tax. This reduction in liability is the main goal when executing tax focused investment strategies. Planning throughout the year, especially when you have business income, ensures you take advantage of the right tax credits, use tax-loss harvesting techniques in your investments, and manage your wealth accordingly.


•    Ensuring estate planning flexibility. Leaving behind money for your heirs isn't enough. Although you may feel good about what you're leaving them, you may not realize how you could complicate their tax situation. Tax planning not only ensures you lower your own tax liability but the tax liability of your heirs.


•    Understanding your investment returns. Capital gains, expenses, and even inflation can ruin your carefully thought-out investment planning, leaving you with much less than you anticipated.


Some common services our tax planners provide:


•    Tax loss harvesting strategies. In your taxable investment accounts, you could be on the hook for large liabilities at tax time. Using a tax loss harvesting strategies ensures your investment portfolio aligns with your needs while also limiting your tax burden.


•    Optimizing your tax bracket. Determine how to plan your income to manage your tax bracket. By offsetting certain income by making retirement plan contributions, you can minimize what you owe on your taxes. 


•    Managing charitable contributions. Sometimes, donating to charity can minimize your tax liability. A tax planner can help you determine if and how charitable contributions benefit you.