Tax Planning

Making Sense Of Proper Tax Planning For your Future

Tax Aware Planning

Getting your Taxes done and knowing what Tax Bracket you are in is NOT Tax Planning. It is simply looking through the rear-view mirror and seeing what has already happened.

See the obstacles in your way…

Tax Aware Planning is looking through the windshield and clearly seeing the Retirement Road ahead and making the necessary adjustments to safely navigate your way through Retirement.

Know When and How you are going to be taxed…

In today’s world, most Pensions and Employer Retirement Plans have fallen to the wayside to make room for the 401k or 403b plan. It is important to understand When and How you are going to be Taxed and gain control of this process before it controls you.

Where is your Money?

100% Taxable

Tax On Your Gains

Tax Exempt/Tax-Free

Advisors often talk about Asset Diversification, but has anyone ever spoken to you about whether you are Tax Diversified? What does that even mean? 

Essentially, there are Three Tax Buckets that you can be in when you Retire: Tax Deductible (100% Taxable), Taxable (Tax on your Gains including Capital Gains Tax) and Tax Exempt/Tax Free. What percent of your Money is in each bucket? If you are like most Pre-Retirees and Retirees today, the majority (over 80-90%) of your money is in the Tax Deductible Bucket: 401k/403b plans and IRA’s. Knowing how this Bucket is taxed (It’s Rules) and preparing for Distribution is KEY to having a Predictable Retirement Income…

Tax Efficient Planning

Tax Efficient Planning focuses on what really matters… the money that comes to you each month after your taxes are paid. The Goal then of Tax Efficient Planning is to achieve the greatest after-tax retirement income possible.

You lose the money you pay in taxes.

You lose the growth that money could have generated if it were still invested.

If you want to maximize your returns and keep more of your money, Tax-Efficient Planning is a must.

Tax Strategy

Tax Strategies are the methods and strategies that we use to achieve the greatest after-tax income possible. Contributing to a Roth, systematically converting to a Roth, Income Smoothing and RMD management can help you save on taxes, leaving you more money to spend and enjoy.

By carefully managing distributions from your portfolio and knowing the order of which Assets to Spend first during retirement can have a significant impact on how long your money will last.