TAX PLANNING

We will work with your tax specialist to maximize your tax efficiency.

Tax Planning Services

We help our clients with tax efficiency planning so they can make more, keep more, and leave more to their loved ones. This is an area where we believe most investment advisors and tax advisors fall short in coordinating the best outcomes.

Instead of asking you to go between us and your accountant, we’ll speak directly with your accountant to ensure nothing is lost in translation.

Also, instead of waiting until your taxes are filed and the tax year is over, we’ll work with you and your accountant proactively to suggest strategies while you still have time to implement them. This usually comes in the form of mid-year or end-of-year tax projections (or both!).

Some of the most common strategies we review include:

  • Cost Basis and Capital Gains Evaluation
  • Tax-Loss Harvesting
  • Roth Conversion Analysis
  • Charitable Gift Planning
  • HSA (Health Savings Account) Evaluation
  • Tax-Efficient Wealth Transfer Planning
  • Roth vs. Traditional Contribution Analysis

Effectively managing wealth requires a thorough understanding of your tax situation along with a focused, cohesive plan.

To learn more about how you can reduce your tax liability and increase the tax efficiency of your financial plan, click the button below to schedule a 15-minute introductory call.

Step #1: Schedule 15-Minute Phone Call

Additional Tax Planning Resources

2024 IRS Cost of Living Adjustments

The IRS has announced new contribution limits for Traditional IRAs, Roth IRAs, 401(k)s, and Simple IRAs for 2024, along with updated Standard Deduction amounts and Marginal Tax Brackets.The IRS has released its 2024 cost of living adjustments, which include new...

Secure Act 2.0: Top 10 Changes

Secure Act 2.0 has been passed and continues to build upon retirement legislation that was passed in the original Secure Act of 2019. The bill is filled with dozens of changes to previous retirement law and provisions will be phased in over the next several years,...

Year-End Strategies to Lower Taxes & Optimize Investments

When a new year is approaching, that means the window for certain opportunities is closing. Taking advantage of a few simple year-end strategies can help save you taxes and increase your bottom line. The year is almost over, and it has certainly been a bumpy one for...

Roth Conversions: Good Idea?

Roth conversions are the repositioning of assets in a Traditional IRA or qualified employer sponsored retirement plan to a Roth IRA. This strategy could make sense for investors even as they approach retirement, but it's important to understand the implications that...

Charitable Donations Using Stock, Not Cash

Before you get the wrong impression of the headline, I think giving to charity is great. In fact, I think people should do more of it. This article, however, wasn’t written to change your attitude about charitable giving, but about the method in which you administer your gifts…

5 Financial Impacts of the Democrat Blue Wave

Democrats swept the 2020 elections, which means investors are evaluating how that could impact their portfolios, taxes, and overall economic recovery. Forecasts are mixed, but investors are encouraged to keep a long-term focus.The elections dominated headlines for...

College Savings: Is a 529 Plan Right for Your Child?

A 529 College Savings Plan could be a great way to contribute to your child’s financial future, but is it the best? Tax-advantaged accounts, like 529s, also come with restrictions and less flexibility to offset their tax benefits. But, a 529 College Savings Plan isn’t...

5 Ways to Get More Money in a Roth IRA

When the world feels like it’s on the brink of implosion, it seems trivial to write or think about taxes. But, with the thought that taxes might go up in the future, especially in Illinois, many are wondering how to get more money in a Roth IRA today (to pay taxes now...

No client or potential client should assume that any information presented or made available on or through this website should be construed as personalized financial planning or investment advice. Personalized financial planning and investment advice can only be rendered after engagement of the firm for services, execution of the required documentation, and receipt of required disclosures. Please contact the firm for further information.