Tax Planning

Tax Planning and Management | Managed Legacy Wealth Counsel

Taxes can affect investment choices, retirement distributions, charitable gifts, business decisions, estate planning, and the amount ultimately available to a family.

Tax-aware planning does not mean allowing taxes to control every decision. It means considering potential tax consequences early enough for the information to influence the choice.

Why Tax Planning Is Important

Many tax consequences are determined before a return is prepared. Once an investment is sold, a distribution is taken, a charitable gift is completed, or a business transaction closes, the opportunity to compare alternatives may have passed.

What We Can Do for You

I do not prepare tax returns or provide tax advice through the financial advisory relationship. I help identify financial decisions that may have meaningful tax consequences, organize the relevant information, compare financial alternatives, and coordinate with the client’s tax professional before action is taken.

Here are several areas in which tax considerations may become part of our financial planning:

  • Retirement and Roth Decisions: Consider the financial tradeoffs surrounding traditional and Roth contributions, Roth conversions, required distributions, and the timing of retirement-account withdrawals.
  • Investment Taxation: Consider capital gains, losses, account types, concentrated positions, income-producing investments, and the placement of assets among taxable and retirement accounts.
  • Income, Giving, and Distribution Decisions: Coordinate questions involving charitable gifts, appreciated assets, retirement income, Social Security, Medicare-related income, and other financial cash flows.
  • Estate and Inheritance Questions: Identify tax-related questions surrounding inherited assets, lifetime gifts, trusts, beneficiary arrangements, and future wealth transfer for discussion with legal and tax professionals.

 

I work with clients and their accountants before important financial transactions when tax guidance may affect the decision.

The accountant provides the tax advice. My role is to connect that advice to the investment, retirement, account, or other financial action that follows.

Request My Connected-Picture Review 

A private, no-obligation look at how your investments, taxes, estate, and family decisions fit together.