Every responsible financial strategy should include knowledge of tax methods and the management of one’s tax obligation. Some taxes can be delayed, while others may be reduced via tax-efficient investing. You may be able to mitigate the influence of taxes on your financial efforts if you prepare carefully and regularly.
There are different types of taxes, and each one can have a profound impact on your financial strategy. The primary step to reducing the power that taxes have over you is to understand the various kinds that exist and might apply to you.
Income tax: This is the tax you pay on your income from employment, investments, or business activities. The amount of income tax you pay will be determined by your marginal tax rate, which is based on the amount of money you earn each year.
Capital gains tax is a federal government tax on the profit you make when selling assets like stocks, real estate, or investments for more than what you paid for them. The amount of capital gains taxes you pay will be determined by your marginal rate and the time frame you have held the investment.
There are other types of taxes that may apply to you, depending on your situation. Our Tax Strategy Services include:
- Tax Liabilities
- Review of cost basis
- Retirement Accounts
- Contribution/Distribution Strategies
Full Service Wealth Mangement Firm
To achieve the goals you hope to reach in the future, it is critical to plan today. Sometimes it is not easy to visualize the third stage of life, especially when it is years away. Our planners know the questions to ask and issues to cover so you can achieve financial independence.
We work with service members and their families to ensure a smooth transition from military to civilian life. This includes helping them plan for their financial future and providing support during the transition process.
You may have taken steps to put your affairs in order, from setting goals for retirement to establishing a legacy. We find that many clients already have aspects of an estate plan in place: typically a combination of investments, a will, a trust, and possibly insurance policies. Our advisors can bring all the pieces of the puzzle together for you!
Creating a solid investment plan requires taking a close look at your current finances, as well as any future needs and goals you might have. It's important to work with experienced professionals who can help assess your risk tolerance level and give you the right investment mix.
We understand that you want to protect your investments. Our financial advisors provide a level of exposure that you are comfortable with, and we can suggest insurance solutions that prepare you for the unexpected.
We assist business owners in choosing the best possible organizational structures to minimize liability and address any income, estate, or asset protection concerns they may have. With so many options, it's difficult to choose the best one for your company. Fortunately, we can help you make sense of it all and pick the option that will work best for you and your business goals.
We know how important it is to make sure your children have the best education possible. That's why our financial advisors work with you and help plan for their futures, from preschool all the way through college!