Fact: The only way not to pay taxes is not to make any money.

As long as you’re making money, you’re going to pay taxes. In fact, we’d love for you to pay $1 million a year in taxes because that means you’re earning at least $2 million!

Taxes are one of the most misunderstood elements of financial planning. We’re here to help you sort through complex tax strategies (and there are many!) to determine when and how to make tax payments at the time when you will pay the lowest rate. Sorry, there’s no escape from taxes, but there may be opportunities IF you plan ahead.

Our team includes Certified Public Accountants (CPAs). We don’t file taxes for our clients, but we offer educated insights on tax planning. We view taxes as one pillar of a well-developed financial plan. We consider your income, investments, insurance, and lifestyle.

Often, clients come to us during tax time and ask, “What can I do to reduce my taxes?” It’s too late to talk to us when taxes are due.

The best time to do tax planning is throughout the year. Yes, that means you’ll have to think about taxes before April 15th. Advanced discussions give us the opportunity to understand where you’ve been and where you’re going.

Let’s talk about taxes now. Don’t put it off. Let’s see if proper planning this year makes a difference next year.

Proper tax planning involves more than paying as soon as possible or delaying payment as long as possible. Proper tax planning also involves triggering tax payments when you have the opportunity to pay at the lowest rate. This could be when you are retired without a high-paying job, young with a low-paying job, or in a year when you are unemployed for an extended period of time. Tax planning involves being vigilant and opportunistic.

If you are young, you may want to make a Roth contribution to your retirement account as you are likely in a lower tax bracket now than you will be in the future.

If you are in your prime earning years, you may want to make a Pre-Tax contribution to your retirement account, as you will likely be in a lower tax bracket when you retire.

Some IRAs have contribution limitations and tax consequences for early withdrawals. For complete details, consult your tax advisor or attorney.

“There is nothing sinister in so arranging one’s affairs to keep taxes as low as possible. Everybody does so, rich and poor; and all do right, for nobody owes any public duty to pay more than the law demands. Taxes are enforced exactions, not voluntary contributions.” - Judge Leonard Hand