Tax Planning

Tax Planning

Taxation is something that we are all obligated to. When making financial plans and investment strategies, you need to know that it is possible to minimize the taxes that you pay. Most people don’t know that this is possible, and working with a financial advisor in East Brunswick will make this possible. We know all tax regulations that we can leverage to help you potentially save on  taxes.

Tax Planning in New York

Why Tax Planning is Important

Taxation cannot be avoided, and we do not advise you turn a blind eye to your tax obligations. While we are all obligated to taxation, you can avoid tax implications of individual investments, business, decisions, and many more by working on tax liabilities present in your goals. A tax savings financial plan is vital for anyone who is looking to generate more wealth. There are potentially thousands of dollars in tax liability that you can avoid using a comprehensive tax plan. Tax planning is important in all levels of financial planning, such as estate planning, retirement planning, and investment planning.

We dive into your finances and find any liability in your taxes and help in creating a reliable Tax Savings Plan. We will incorporate this into your overarching financial plan and help you to save taxes. 

What We Can Do For You

  • Income Tax Planning: The main goal in Income Tax Planning is the reduction of federal tax liability. This includes retirement contributions, contributions to Flexible spending / Health Savings plans, deduction planning, investment tax planning, year-end planning strategies. Our team of advisors will look into your finances and make the best plan to avoid as much tax liability as possible.
  • Investment Tax Planning: Within your investment assets, we aim to find the best position to help minimize all forms of tax liability. This planning requires year-round assessments for optimal results. We look at all tax implications over several investment vehicles and strategies. They include and are not limited to tax-exempt investments, 1031 exchanges, tax-deferred investing, legacy planning, and tax loss harvesting.
  • Gift Tax Planning: If you are giving away your wealth or assets, whether, in life or death, there are federal and state taxes that you or your loved one’s may face. We can help you protect your assets in your transfers. We understand these taxes, and we will find ways that you can minimize the liability that comes with them.
  • Life Event Tax Planning: There are several life-altering events a person can experience. They include retirement, marriage, higher education enrollment, and many more. Most of these come with their own taxes. We will help you in reporting for such taxes and find ways that you can spend and save for these events.
  • Charitable donations:  There are ways that you can be smart about charitable donations to avoid loads of taxes. How to be smart when giving, maximizing the impacts of the gifts, and leveraging benefits for yourself are some of our goals. Our team will help you make the best of your charity donations and help keep philanthropic goals in the family.

Think It Makes Sense to Discuss A Personalized Financial Plan?

Schedule your FREE initial consultation now, so we can discuss your desired financial goals and a plan to help you get there!