Tax planning involves doing what you can to both minimize and plan for taxes.
When it comes to minimization, we assist in several ways, including:
- Designing investment portfolios with tax efficiency in mind
- Using tax loss harvesting to minimize capital gains
- Ensuring optimal use of tax efficient accounts including traditional IRAs, Roths and Health Savings Accounts
- Working with business owners to identify the best type of retirement plan to use
- Coordinating with accountants to minimize taxes for clients selling businesses or receiving large equity awards from employers
Beyond minimization, we also work to ensure taxes related to investment income are planned for and aren’t an unpleasant surprise at tax time. Our ongoing process means that we proactively anticipate the potential tax impacts of financial decisions as well as the transitions in life (marriage, business sale, inheritance) that you may encounter.
IRAs remain a great way to set aside funds for retirement, even though most people nowadays have access to a 401(k) or 403(b) retirement savings plan at work. One of the most common questions people have about IRAs is whether they should invest in a traditional or a...
The IRS not only wants you to pay what you owe but in many instances, they don’t want you to wait until the end of the year to do so. If your primary income is a salary from an employer, this is pretty simple. Just make sure you get your withholding correct, and you...
One of the most controversial aspects of the new tax law is the limitation on the deduction for state and local taxes. The limit was set at $10,000, and as a result, many affluent taxpayers will find themselves able to deduct a good deal less than they actually pay in...