Tax Planning

Capital Gain Tax

Capital gains are profits realized from the sale of assets; a tax is triggered only when an asset is sold, not held.

Estate Tax

Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.

Gift Tax

The federal gift tax applies to gifts of property or money while the donor is living.

Retirement Plan Limits

IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.

Required Minimum Distributions

Required minimum distribution is the annual amount that must be withdrawn from a qualified retirement plan/account.

Charitable Trust Tax Benefits

For the grantor, there are a few potential tax benefits that can come with setting up a charitable trust.

Retirement Plan Taxes

With traditional IRAs and most employer-sponsored retirement plans, taxes are not payable until funds are withdrawn.

Withdrawing Before Age 59.5

Tax-deferred retirement account withdrawals before age 59½ generally triggers a 10% federal income tax penalty.

Tax Deferral

There can be a substantial benefit to deferring taxes as long as possible.

Tax-Advantaged Investments

Many traditional tax-advantaged investment strategies have gone away, but there are still some alternatives.

Tax Deductions

Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses.

Tax-Advantaged Alternatives

While stable, CDs can create quite an income tax bill. Fixed annuities and municipal bonds can offer tax advantages.

Tax Strategies for Retirement Plans

Consider a trustee-to-trustee transfer to an IRA versus a lump-sum distribution from a workplace retirement plan.

Tax-Free Investments

It’s important to understand tax-exempt vehicles when establishing a comprehensive tax planning strategy.

Mutual Fund Profits

Want to keep more of your mutual fund profits? You may be interested in strategies to help lower your tax liability.

Tax-Free Insurance Upgrades

A 1035 exchange allows you to exchange your life insurance policy for one from another company without tax liability.