Step 3: Tax Planning & Preparation
Step 3: Tax Planning & Preparation
Goals & Outcomes:
- Maximize after-tax return
- Minimize your tax liability
- Optimize your portfolio's long-term tax strategy
- Support your preparation and submission of tax documents
Tax Planning & Preparation focuses on the most important number in your portfolio: the after-tax number. We analyze your current tax strategy, identify sources of inefficiency, and recommend actions to minimize the effect taxes have on your wealth.
Along with tax planning in your portfolio, we also assist in the preparation of tax documents for your return.
Similar to the Portfolio X-Ray, the Tax Return X-Ray looks at your return for opportunities to optimize your after-tax return by enacting new strategies or mitigating current strategies that incur tax liability.
Our team looks inside your portfolio for the capital gains or losses that each security may affect, if they were realized.
By strategically identifying areas with relatively large gains or losses, we can create a realization plan that minimizes the tax consequences of selling the security. This strategy is especially effective for individuals who are entering or already in retirement.
Tax loss harvesting is the practice of realizing capital losses to offset capital gains. By neutralizing capital gains, we can reduce an investor's taxable liability, and, in some cases, create carry-forward losses that can protect a portfolio from unnecessary taxes in future years.
Tax loss harvesting can also offset up to $3,000 of taxable income, which also reduces an investor's tax liability.
As a service to clients, we offer support in pulling 1099's, 1099-R's, K-1's, and other sensitive tax documents.
Our goal is to help you optimize the management of your wealth, which includes simplifying the process of pulling tax documents.
In retirement, a primary or supplementary source of income may be distributions from your investment portfolio.
We work with you to strategically withdraw capital from your portfolio with the goal of minimizing the tax consequences associated with withdrawing additional income.
We work with a select group of excellent CPA's who can help you prepare your taxes. We also work with your current CPA to give them the information they need to optimize your tax return.
Goals & Outcomes:
- Maximize after-tax return
- Minimize your tax liability
- Optimize your portfolio's long-term tax strategy
- Support your preparation and submission of tax documents
Tax Planning & Preparation focuses on the most important number in your portfolio: the after-tax number. We analyze your current tax strategy, identify sources of inefficiency, and recommend actions to minimize the effect taxes have on your wealth.
Along with tax planning in your portfolio, we also assist in the preparation of tax documents for your return.
Similar to the Portfolio X-Ray, the Tax Return X-Ray looks at your return for opportunities to optimize your after-tax return by enacting new strategies or mitigating current strategies that incur tax liability.
Our team looks inside your portfolio for the capital gains or losses that each security may affect, if they were realized.
By strategically identifying areas with relatively large gains or losses, we can create a realization plan that minimizes the tax consequences of selling the security. This strategy is especially effective for individuals who are entering or already in retirement.
Tax loss harvesting is the practice of realizing capital losses to offset capital gains. By neutralizing capital gains, we can reduce an investor's taxable liability, and, in some cases, create carry-forward losses that can protect a portfolio from unnecessary taxes in future years.
Tax loss harvesting can also offset up to $3,000 of taxable income, which also reduces an investor's tax liability.
As a service to clients, we offer support in pulling 1099's, 1099-R's, K-1's, and other sensitive tax documents.
Our goal is to help you optimize the management of your wealth, which includes simplifying the process of pulling tax documents.
In retirement, a primary or supplementary source of income may be distributions from your investment portfolio.
We work with you to strategically withdraw capital from your portfolio with the goal of minimizing the tax consequences associated with withdrawing additional income.
We work with a select group of excellent CPA's who can help you prepare your taxes. We also work with your current CPA to give them the information they need to optimize your tax return.