Tax Reduction Planning

We know you work hard for your money, which is why it’s important to safeguard your assets through proper tax planning

CONSIDERING THE TAX IMPACT

Tax reduction planning is a critical component of wealth management. Such planning considers the implications of individual, investment, and business decisions, usually with the goal of minimizing tax liability.  Working closely with our clients, we take into account the potential tax consequences our joint financial decisions have because unplanned financial transactions can result in recurring tax fees or large tax penalties.  Although decisions are rarely made based solely on their taxable impact, we are always aware of the tax issues involved in any situation.

Income Tax Planning

A major goal of proactive tax planning is minimizing exposure to federal tax liability. While taxes are difficult to avoid, we proactively help clients reach their financial goals as tax-efficiently as possible.   Depending upon a client’s unique circumstances, some of the tax planning strategies we may consider include

  • Income tax bracket use strategies
  • Deferral or shifting strategies
  • The use of health and medical savings accounts
  • Tax-loss harvesting
  • Year-end planning
  • Review of capital gains or losses
  • Planning for deductions and credits
  • Review of cost-basis
  • Roth conversions

Although financial professionals can perform many tax planning functions, it is important to note that some activities require the expertise of an accountant or a CPA.

Check out our carefully curated articles on tax strategy.

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The Financial Advisor(s) associated with this website may discuss and/or transact business only with residents in states which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. Please check Broker Check for a list of current registrations. Information presented on this site is for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any product or security.


Securities offered through Commonwealth Financial Network ®, member FINRA/SIPC, a Registered Investment Advisor. Advisory services and financial planning offered through Global Wealth Advisors are separate and unrelated to Commonwealth.Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network. Global Wealth Advisors does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.