Tax Time is a Good Opportunity for a Financial Review

For most of us the only time we pull together all our financial information is at tax time. Try looking at it as an opportunity to go over both your current and future financial situation with your tax professional. This is were using a tax professional that has advanced degrees, licenses and certifications can do much more for you than preparing your tax forms. For areas that we are not comfortable or licensed to provide you guidance we do have a large referral network. We can work with your wealth or investment manager to optimize your tax plan.

For most people their largest financial goal is retirement savings, especially with the diminishing amount of companies providing a pension. There are several options for tax deferred savings plans for the wage earner and even more for the business owner. We can help guide you to the one that best fits your needs and income.

When you are in or nearing retirement then you need to plan on how to spend down those accounts. With large amounts of money in these tax deferred accounts you need to be careful about not incurring a surprisingly large tax liability. Large withdrawals can trigger increases in your Medicare premiums of several thousand dollars a year. This can be unfamiliar territory for most wage earners, but something we deal with often.

So when you bring us your tax forms also bring us your general financial questions and plans.