Tax Planning
No Surprise – Just Smart Strategy
Taxes touch every part of your financial life. We’ll help you stay ahead of the curve with practical strategies that keep more of your money working for you. However, similar to planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits – but only if it’s done professionally, and earlier on during your wealth accumulation cycle.
Our Tax Planning philosophy is not centered around tax avoidance, but rather on helping you structure your finances, so you and your family aren’t overburdened by undue tax liability.
Why Tax Planning Is Important
Delayed tax planning is tantamount to leaving potentially savable dollars, of your hard-earned money, on the tax table for others to benefit from. The longer you defer tax planning, the more money you’ll end up owing and paying in taxes. That money could potentially have been saved, through a reduced tax bill, invested, and grown, through the magic of compounding, over many years.
What We Can Do For You
We help our clients with long-term tax planning strategies – and that’s exactly how we’ll help you. Tax planning doesn’t commence on the day you file your tax returns. Prudent tax planning starts long before – sometimes even before you make investment decisions that trigger a tax liability. We can help devise tax planning strategies that minimize taxes and guide you to optimize your tax-friendly investment returns.
Here’s what we can do for you through our Tax Planning service:
- While the best advice you can get is: SAVE, SAVE, SAVE…as much as you can. The next best advice is: be careful how you invest those savings. Our tax planning advice will include considerations on whether you should invest with pre-tax dollars, or post-tax income. How you invest, and in what types of investment vehicles, can make a significant difference to the taxes you pay. We can help you navigate through the various advantages and disadvantages of choosing one strategy over another.
- When planning for the tax impact on your income, we’ll also plan for the types of income that you might receive: dividends, interest, annuity payments, capital gains, inheritances, employer or government benefits. While all of these are potential income streams before and after retirement, each has different tax planning implications.
- We’ll help you mitigate possible tax impacts when it comes to your estate. A good tax plan will ensure that future generations don’t bear the burden of taxes due to the legacy you leave them. But to ensure a tax-advantaged inheritance to your beneficiaries, you need to put appropriate plans in place NOW – and that’s where Tax Planning can help.