Tax Planning Sessions

Tax Planning Sessions – generally two to four a year, develop and implement the Tax Strategy

Tax planning is the process by which we develop your tax strategies to fit your financial goals. Depending on your complexity, we’ll have two to four dedicated tax planning sessions, where we will review your historical tax obligations, develop our new priorities, and verify compliance throughout the year. Typical tax planning reviews your overall wealth management strategies, payroll setups, and asset locations. More elaborate tax planning can include 1031 Exchanges, cryptocurrency compliance, and income location. Tax strategies are ever evolving, as your income grows your need to reduce the tax burden increases, requiring new and aggressive strategies.

Initial Tax Planning Meeting

Setting your Tax Strategies

Personal finances are extremely personal. Many financial advisors attempt to put everyone into the same strategies. We start by understanding your goals and working with you to achieve those goals in the most tax efficient manner. All financial moves involve trade-offs, so each year we’ll implement additional strategies to help you shelter more wealth from the tax code. As your life undergoes changes, we’ll adapt with you, developing new strategies for your new life.

Reviewing Your Progress

Implementing the Tax Strategies Together

Business owners like yourself are busy people. It’s easy to get trapped in the weeds as you implement your tax strategy. We meet regularly to review your progress and make sure that the objectives are being hit. Tax planning strategies require a careful implementation of your chosen plans. Whether you need regular meetings with Jordan Guthrie, our  onboarding concierge, or one-on-one meetings with Bette, we’ll accommodate you and your needs to see that your tax planning is a complete success. We generally review progress each meeting and set new objectives. Each quarter, we’ll make sure that we are implementing all the appropriate tax strategies for your current financial situation.

Real Estate Holdings and Investments

Real Estate and Security Assets Need Planning

Real estate investors need strategies that match their investment portfolio. Real estate investors have special challenges to make certain that passive losses – like depreciation – are successfully paired up with passive income or rolled forward. If you are updating your portfolio, and plan for a 1031 Exchange (see IRS Guide), it is important that all the tax compliance matters are attended to so your exchange doesn’t fail.

Security investors seem more straight-forward, but 401(k)s, IRAs, and ROTH versions all have subtle differences related to things like required minimum distributions and require allocating the right assets within the right account type. We can review your accounts and make certain you are setup to maximize your tax benefits from these accounts. Parents with children at home need to evaluate the tax benefits of 529 Accounts vs the flexibility and financial aid benefits of saving for college in a Roth IRA. Knowing your goals helps us devise a strategy for your family’s needs.

Cryptocurrency and Web3 Investors

Tax Planning Solutions for Bleeding Edge Investors

A growing number of Americans have invested in the new Web3 investment vehicles of cryptocurrency and NFTs. These assets do introduce some unique tax challenges because of their status as non-security, non-currency, and non-collectable assets. However, they need to be incorporated into your full tax picture to make certain that we are adequately preparing for the tax implication of your trading or mining operations. Web3 business operators need to incorporate the tracking and planning for their business and personal exposure to these assets. We’ll review your full picture at our sessions, and make sure that you are accomplishing the goals you have for your assets.

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