With tax planning, we are looking at strategies that can help grow your net worth. We work with your CPA or tax preparer on strategies that can help you save money.
Common techniques and reviews we do:
- Do you have taxable and tax advantaged accounts? Are you building an effective overall portfolio by placing tax inefficient such as taxable bonds and REITs investment in your tax advantaged accounts? Are your investments subject to long-term capital gains located in taxable accounts?
- Do you make charitable donations? Are you giving cash or are your giving appreciated property such as stocks, ETFs, and mutual funds avoid paying capital gains tax but reaping the full charitable write-off?
- Are you harvesting paper capital losses to have available in future years when you may be facing capital gains?
- Are you utilizing donor advised funds to be able to take large writeoffs for charitable donations in high income years and pay the charities over time?
- Are you taking advantage of tax advantaged employee benefits such as 401ks or profit sharing plans? If you are self-employed are you taking advantage of tax advantaged retirement plans available to you