Tax Planning

Tax planning is an essential part of comprehensive personal financial management. It is the process of decreasing taxable income, increasing deductions and taking advantage of tax credits to minimize your tax liabilities. Proper tax planning helps you preserve more of your wealth to enjoy as you please.

Our tax planning services include:

  • Asset location: allocate assets by tax strategy
  • Wealth transfer strategies
  • Roth IRA conversion strategy
  • Tax reduction strategies
  • Incentive compensation structure

Customized to Your Needs

It’s important that we understand your individual situation—tax situations can vary widely, and we research the latest state, local and federal regulations that affect your particular tax bracket. There are often multiple options, but serious consequences may ensue if the wrong ones are taken. Our goal is to ensure that your intended wishes are actually fulfilled, and to be ready to revise your plan in the event of significant tax law changes.

As a subset of our regular meetings with you, we follow up with coordinated communication with allied professionals when appropriate to ensure a unified approach, including quarterly reports to your tax professional.

Timing can have a dramatic impact on the tax consequences of investment activities. Holding on to an investment until you’ve owned it more than a year may help substantially cut tax on any gain. If you’ve achieved some large gains during the year and want to reduce your tax liability, we look for unrealized losses in your portfolio and consider selling them to offset your gains.

Tax planning helps you preserve more of your wealth to enjoy by decreasing taxable income, increasing deductions and taking advantage of tax credits to minimize your tax liabilities.