Tax Planning

2Tax planning is an often overlooked area of retirement planning. It involves minimizing your tax burden by utilizing tax saving strategies and investment vehicles best suited for your situation. This can only be accomplished by those who understand the current tax codes, potential future considerations and the universe of tax advantaged investments and/or vehicles (401(k), IRA, insurance etc.).

Minimizing taxes involves looking ahead at what’s coming, not just looking behind at prior years. Given that, we take a comprehensive, on-going, and proactive approach to include tax minimization strategies within both the investment planning and wealth management process, as well, legacy planning.

Should you put tax-free municipal bonds into your IRA? We’ve seen that. Should you sell your long-held stocks for cash while passing your IRA to your children? It happens. Should you pass your assets on to your children and let them worry about whatever tax consequences might result? Maybe, but you may want to explore all options first.

The Benefits of Matrix Private Wealth Solutions Tax Planning

As the coach of your wealth management team, we find the best players for every position. Tax planning is a critical and integral part of your overall financial strategy designed to address the following:

  • Make sure you pay the lowest allowable taxes for the current tax year so you’ll owe less or get back more.
  • Realize potential future tax savings with un-utilized, and often unknown, deductions.
  • Ensure you understand the tax consequences of your current investments so you aren’t paying taxes you shouldn’t, or throwing away tax savings.
  • Ensure the right investments are in the tax appropriate vehicles so your wealth can grow faster.
  • Help you determine the most effective tax efficient way to spend your assets in retirement and still have plenty to bequeath to your heirs…should you want to.
  • Help you pass along your estate to your heirs, or your favorite charity, in the most tax-efficient way.

Because we understand both investments and taxes, you win.

Examples of Effective Tax Strategies

Some tax strategies are simple and some are more advanced; but we’ll work with you on your level so you always understand how we help you to achieve your goals.

Some of the tax saving strategies we can use to help you are:

  • Deferring or accelerating income so that it occurs in the most advantageous tax year,
  • Finding legitimate tax deductions you’ve missed,
  • Reducing the impact of Net Unrealized Appreciation (NUA) when selling or exiting your company,
  • Using appropriate investments to lower your tax burden, and
  • Income splitting amongst family members to lower the overall burden and help younger earners contribute to their Social Security.

As always, we’ll not only help you make it, we’ll help you keep it.

Call Us At  888-236-1739