Tax Planning

Why Pay More Taxes Than You Have To?

The Modern Wealth Advantage

At Modern Wealth Management our financial advisors work as a team on your behalf, coordinating directly with our CPAs on tax strategies to reduce your lifetime tax burden. This is the Modern Wealth Advantage. Our advisors work with experts in taxes, insurance, estate planning, financial planning and investment management to help our clients achieve their goals.

If that sounds like something you’re looking for – check out our schedule.

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Download the Tax Reduction Strategies Guide

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Tax Planning vs. Tax Preparation

First, we need to review a common misconception. Tax planning is not tax preparation. Tax preparation is gathering documents and reporting on history. Forward-looking tax planning is the process of coordinating long-term tax reduction strategies to reduce taxes over a lifetime.

Financial Professionals Working Together for You

Your financial planner should work with your CPA to identify tax opportunities involving areas like: estate planning tax, inheritance tax planning, investment tax planning, yearly taxation planning, and more.

Tax planning is a key element in our wealth management and retirement planning process.

Your CPA should work with your financial planner to look at Social Security benefits, asset location, opportunities for Roth conversions, and more. All of this is in an effort to design a tax-efficient plan that provides you with the highest probability of success with the lowest amount of risk.

Get the Tax Reduction Strategies Guide

Paying taxes can sometimes feel like climbing a never-ending mountain. However, there are several tax reduction strategies to employ that can help you reach the summit year after year.

Don’t let Uncle Sam hop on your back during that climb. Utilize these tax reductions strategies to pay as little in taxes as possible throughout your quest to and through retirement.

Tax Preparation Checklist

Organization is pivotal when you’re doing tax preparation. Having your own personal guide to review specific items, including the following, can help.

  • Personal Information
  • Education Expenses
  • Employee Information
  • Retirement Income and Contributions
  • Savings and Investments
Download the Tax Reduction Strategies Guide