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Tax Planning

Minimizing the amount of taxes that you pay over your lifetime is an important component of your wealth accumulation strategy. As your financial planner, we become more familiar with your overall financial situation than your accountant or tax attorney. This gives us the ability to identify multi-year tax minimization strategies that in many cases can materially lower your tax liability. We work closely with your tax preparer to ensure that every opportunity for tax optimization is employed.

A client story:

Tom and Linda, both age 62 had both retired from full-time employment. Their retirement funding included traditional IRAs, Roth IRAs, after-tax savings, Social Security, and rental income from a four-unit apartment building they owned. Linda was also doing some freelance writing for food magazines. Given the variable nature of the self-employment and rental income, Tom and Linda’s income tax exposure changed annually. Accordingly, we developed and adjusted annually, a retirement funding plan that drew from their various accounts in a way that minimized their current and long-term tax liability.*

*The above client story involves a current or former Pathway Client.  Personal details, including names, have been modified to protect client confidentiality.