Tax Planning

It’s said that only two things are certain in life: Death…and Taxes! And while there’s not much you can do to avoid the former, with prudent planning and foresight, there’s a lot you can do to minimize the latter. However, similar to planning that goes into living a happy and fruitful life, a well-planned tax strategy built into your overall financial plan can help you keep more money in your pocket, helping you further fulfill your lifetime and legacy planning goals.

There is a difference between being proactive and reactive with tax planning. Tax efficiency is important to minimizing the amount of taxation throughout the course of your life and even when you pass wealth down to the next generation. 

At Signal Wealth Advisors, we are always striving to reduce your tax burden through thoughtful financial planning strategies and tax efficient investment portfolios. We work closely with your CPA to ensure we are all pulling in the same direction.

Why Tax Planning Is Important

Almost everything that touches your financial life is impacted by taxes. The assets you own, the income you earn, the investments you choose, the timing of your retirement, where you choose to save, how you structure your estate planning, and so on dictates how much money you get to keep in your pocket after taxes are paid. Understanding how to navigate this as part of your wealth management strategy and incorporate it into your financial plan is crucial to the longevity of your wealth.

What We Can Do for You

We help our clients through long-term Tax Planning strategies. Tax planning does not commence on the date of filing your tax returns. Prudent tax planning often starts long before – sometimes even before you make investment decisions that trigger a tax liability. We can help devise tax planning strategies that minimize taxes and maximize your wealth.

• While the best advice you can get is to save and invest, the next best advice is to be thoughtful about how you invest those savings. We will include considerations on whether you should invest with pre-tax dollars, or post-tax income. How you invest, and in what types of accounts and investment vehicles, can make a significant difference to the taxes you pay. We build out investment portfolios that are tax efficient and work with your overall financial plan.

• When planning for tax impact on your income, we’ll also plan for the types of income that you might receive: dividends, interest, capital gains, inheritances, employer or government benefits. While all of these are potential income streams in retirement and before, each has different tax planning implications.

• We are always thinking about the impact of taxes to your current and future wealth. If left unplanned, your wealth could be diminished due to over-paying in taxes, leaving you with less money to live on.

• We’ll help you mitigate possible tax impacts when it comes to your estate. A good tax plan will ensure that future generations do not bear the burden of taxes due to the legacy you leave them. Through thoughtful generational planning, we strategize the best way to leave money to heirs.

Contact us today to learn more about tax planning.