Tax planning focuses on the tax implications of various investment strategies and vehicles. Although decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved.
A major goal of tax planning is minimizing federal income tax liability. This can be achieved by reducing taxable income through income deferral or shifting, deduction planning, investment tax planning, and year-end planning strategies.
We will work with you and your tax professional to develop ways to best position assets in order to minimize the amount of taxes you have to pay. In addition, our holistic approach to planning will include investment vehicles and strategies that can help reduce your tax burden. This requires year-round planning, and it begins with an in-depth understanding of the tax implications of various investments and investment strategies. We work as a team with your tax planner on topics including tax-exempt investments, gains and losses, 1031 exchanges, tax-deferred investing, and passive income and losses.
This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Investors should consult with a tax or legal professional regarding their individual situation.