Broker Check

Tax Planning

Tax Planning

Do you want to find out how you can reduce your tax burden?

Tax planning is a strategic financial process designed to optimize an individual's or entity's tax liability while remaining compliant with applicable tax laws and regulations. It involves analyzing financial situations, identifying potential tax deductions, credits, and exemptions, and implementing appropriate strategies to minimize tax burdens.

Effective tax planning encompasses various aspects such as income tax, estate tax, and capital gains tax, aiming to maximize after-tax income and preserve wealth over the long term. By proactively managing tax obligations and leveraging available tax-saving opportunities, individuals and businesses can enhance financial efficiency, mitigate risks, and achieve their overall financial objectives.

You don’t have a choice about paying taxes, but you can avoid making the mistake of overpaying them. While it’s hard to imagine anyone intentionally paying too much in taxes, the IRS estimates that more than one billion dollars is overpaid in taxes each year. That’s no surprise when tax laws change every year—even in years when no major tax legislation is enacted.

How much of that money is yours? Wouldn’t you rather see those funds in your bank account or put aside for your retirement or other financial goals?

You might be able to save on taxes by:

  • Restructuring your investment portfolio to produce a higher after-tax return
  • Shifting income to dependents in a lower tax bracket
  • Claiming appropriate home office deductions
  • Maximizing qualified plan and IRA contributions
  • Identifying all the deductions that apply to your small business

If you’re like most people, your taxes represent one of your largest annual expenses, yet often little or no planning is done to minimize your tax bill. Careful tax preparation and planning can free up money that you can use to achieve your goals.

United Planners and its representatives do not provide tax advice, and any tax services beyond the scope of financial planning are provided independently of United Planners.

Speak to a Professional

If you believe you could benefit from working with a financial professional, let’s review yours goals to see if you’re a good match for our practice.

Schedule Consultation