There are only two constants in life - death and taxes.
Although no one wants to consider their mortality, it is inevitable that it will occur. Similarly with taxes, we’d prefer to not have to pay them, but unfortunately taxes are also inevitable. Tax planning is a process that involves more than filing a tax return, working with an experienced financial advisor can ensure that you are utilizing as many deductions as possible and that tax strategies are being implemented so that you are paying the least amount of tax possible. Tax liabilities to your estate can essentially be alleviated with proper planning. In addition to filing your current years tax return, I will also review your prior years tax returns to determine if a reassessment may be in order. When a reassessment is in order, there is the probability that tax dollars that had previously been paid will be returned to the taxpayer. As there are numerous reasons for requesting a reassessment, it is to your advantage to discuss with your financial advisor what possibilities are available to you.
"Planning is the key to minimizing taxes"
What is Tax Planning?
Tax planning is not to be confused with tax avoidance. Paying taxes cannot be circumvented, however, tax planning can effectively reduce your tax liabilities. The objective of personal tax planning is to minimize or defer income taxes payable. Planning ahead is the key to minimizing your taxes and maximizing your returns. Each year, many taxpayers overpay simply because they fail to claim all of the deductions and credits to which they are entitled. Tax planning allows you to reduce the liabilities at this point in time as well as reduce the taxes that will be attributed to your estate and beneficiaries after your demise. You are entitled to arrange your affairs, within the limits of law, so that the minimum amount of tax is paid. As your financial advisor I can assist you in all aspects of tax returns including personal, business, corporate, estate and trust returns. I can address sophisticated and unique tax situations, including small business returns, rental property, employment expenses and more. Planning is the key to minimizing taxes.
How We Can Help You Plan
The surest way to achieve your goal of financial security is to establish a committed relationship with a qualified financial planner.
Once a relationship has been established, your advisor will be attuned to your financial life, your needs, goals and objectives as well as your investment time horizon. You may be considering help from a financial planner for a number of reasons, whether it’s deciding to buy a new home, planning for your children’s education, retirement or estate matters, whatever your needs, working with a financial planner can be the stepping stone in securing your financial future.
Financial planning requires skill, knowledge, diligence, and discipline. The reward makes it worth the time and effort. The planning process requires teamwork; it is necessary to disclose personal information and essential that you feel comfortable with whom you have entrusted with the details. Therefore it is important to choose an experienced advisor that you feel comfortable with both personally and professionally.
We Can Assist You With the Following Taxes:
- US Taxes
- Trust and Estate
Do I Need a Financial Planner for Taxes?
Many individuals either file their taxes on their own using do-it-yourself tax programs or have them completed by someone other than their financial planner. It is advantageous to work with your financial planner to have your taxes completed, after all, your financial advisor is privileged to your entire financial situation and may be able to implement fundamental tax-saving strategies into your investment plan that would allow you to keep more of your money rather than paying it to the government.
When dealing with a qualified advisor, you can be assured that you are receiving advice that will benefit your needs. Let's take for example someone with a disability, many people with a disability miss out on significant tax credits and may have unclaimed tax refunds from previous years. This includes spouses, family members and caregivers of those with a disability. We will ensure that should you qualify for a disability tax credit or caregiver amount that you will receive what is entitled to you.
Often there are changes to tax procedures that the average person is not aware of - changes that your advisor could be using to minimize your tax liabilities. Working with a knowledgeable financial planner can ensure that you are optimizing all the deductions that are available to you. Your advisor can utilize specific information that is known about your finances and integrate those particulars into saving you money. A do-it-yourself tax program cannot offer this individualized service.
As your financial planner, I will be privileged to your full financial picture, thus aligning concepts that could prevent you from paying unnecessary taxes. I will integrate tax-planning strategies into your investment portfolio. When attempting to obtain financial security, it is important to implement a plan. Receiving advice and not implementing a plan will not effectively help you in the overall picture of financial security. It is essential that we work together so that you may achieve long-term financial benefits.