| We include tax planning because
we know that without reducing the amount you owe in taxes, the road
to financial independence is much longer. We find that the most successful
and effective plans are those where everything is working together
toward one common goal. Goals are reached much faster when ALL pieces
of the train are all running on the same track.
Are you withholding enough to avoid tax penalties? How much can
we estimate that you will owe? What can we do now to reduce that
amount? How can you pay less money in taxes, so instead you can
re-allocate those funds toward reaching your goals faster? How much
do you need to take for your required minimum distributions? Do
you have capital losses or gains that you should consider taking
before year-end? If so, should you buy the investment back again?
When?
I often tell clients that there are several reasons why we do comprehensive
planning and this is just one of them.
While we would never promise you a 20% return on your investments
(and no one should!), we feel that with good tax planning, if we
can help save you $1 in taxes, in essence, that's approximately
a 20% return!
We strongly believe in tax planning and, with retainer clients,
will do an annual tax planning appointment and analyze whether
they should change their payroll withholding, whether they should
make any changes to their portfolio, and what are the best tax saving strategies for them to implement. |
