Why Tax Planning Matters
Taxes impact nearly every aspect of your financial life, from your paycheck to your retirement withdrawals to the legacy you leave behind. Without a proactive strategy, you may be paying more than necessary.
At WealthClarity, our advisors have the knowledge, experience, and technology to help maximize your tax efficiency. We look beyond the current year to develop long-term strategies that align with your overall financial goals.
Our Approach to Strategic Tax Planning
While CPAs typically focus on filing returns and minimizing taxes for the current year, our role is to plan ahead. We coordinate with your Certified Public Accountant (CPA) to offer a seamless and proactive tax planning experience.
Our goal? Help you reduce your tax burden — now and in the years to come — by incorporating tax-aware decisions into every part of your financial plan.
Key Tax Strategies We May Use
Our tax planning services are tailored to your income, goals, and life stage. Common strategies include:
Tax-Loss Harvesting
We strategically sell investments that have declined in value to offset gains and reduce your taxable income, potentially lowering both your current and future tax liabilities.
Long-Term Capital Gain Harvesting
In years when your income is lower, we may recommend selling appreciated assets to realize gains at a reduced capital gains tax rate, an opportunity to “reset” cost basis without a significant tax hit.
Roth IRA Conversions
By converting pre-tax retirement funds into a Roth IRA, we help you pay taxes now at potentially lower rates and allow your future growth to be tax-free. This can be especially beneficial during low-income years or in preparation for retirement.
Maximizing Retirement Contributions
We help you take full advantage of tax-deferred accounts and tax-free retirement accounts, such as 401(k)s, Roth IRAs, and SEP IRAs, to reduce taxable income while building long-term wealth.
Distribution Planning
We guide you through withdrawals from inherited retirement accounts and income streams in retirement, always with a focus on minimizing your effective tax rate and maximizing what you keep.
Tax Planning That Evolves With You
As your life changes, so should your tax strategy. From career milestones to business transitions to retirement and beyond, our team continuously monitors your financial picture to ensure your tax plan stays aligned with your goals.
Whether you need a full financial plan or a targeted tax consultation, we’re here to help bring clarity to your tax decisions.
Our Commitment
As fiduciaries, we act solely in your best interest. Our tax planning services are designed to:
- Minimize taxes over your lifetime, not just in the current year
- Integrate with your investment and retirement savings strategies
- Empower you with clear, confident decision-making
- Collaborate with your CPA or tax advisor for a unified plan
We offer tax planning as part of your comprehensive financial plan or on an hourly basis, depending on your needs.
Disclaimer(s):
- This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
- Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include federal income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.
Work with an Experienced Financial Advisor
If you’re looking for a tax professional who understands how taxes impact the big picture, we’re here to help. At WealthClarity, we focus on long-term tax efficiency, helping you protect your wealth and plan with purpose.
