Tax Planning

Taxes might be the most significant expense you’ll have over your lifetime. It is the one planning area that is intertwined with all areas of wealth management. Tax planning seeks to reduce, defer, or avoid this expense through mindful and prudent planning processes. We pursue an approach that coordinates the tax impact each planning area has on another. Our aim is to help you pursue your financial goals while quantifying this impact by creating plans and strategies that can have the highest value to you and your family.

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TAX-PLAN SECOND OPINION

Our second opinion starts with a review of your current tax returns, a list of your current strategies, and modeling the impact of those strategies in comparison to others. Your tax plan can include distributions, savings, investments, or a planned sale or exchange of an asset. Reducing or deferring taxes can be significant to your overall wealth plan.

TAX-EFFICIENT INVESTING

Tax efficiency considers reducing the impact of taxes and the preservation of wealth. Simply taking losses to offset gains is often not the best wealth plan. Asset location is planning for the type of asset to own based on its taxable location. For example, individual or trust assets are taxed annually on interest, dividends, and capital gains at their specific rates. Qualified plans are taxed on distributions which the investor controls until their required minimum distributions begin. Tax-deferred assets from insurance companies can have tax-free and taxable elements. How assets are owned, their location, and how they’re invested can have significant benefits annually and in your legacy plan.

PLANNED ASSET SALES

Planned asset sales are common with real estate, privately owned businesses, and shares of stock that have a low-cost basis. Tax-deferred strategies, utilizing a combination of charitable strategies with outright sales, ownership structure, and sale terms must be considered against the goal of the sale, ending wealth, and risk of the strategy. Strategy modeling alongside a risk-reward analysis should be considered.

ROTH CONVERSIONS

Few assets are tax-free and liquid. Roth conversion strategies are not as simple as determining your current and future income tax rate. Having a tax-free income source and asset that you can tap when needed can reduce the impact of increasing taxable income in the current year, like social security taxation and the impact on Medicare premiums subject to IRMAA. Understanding potential longevity and the impact of required minimum distributions on your forecasted plan is a key element of retirement income planning and legacy estate planning.

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WealthPlan 360 is our dynamic, integrated approach to wealth management built on four essential pillars: Foundation, Strategy, Safeguard, and Optimize. We begin by establishing a solid financial base and crafting tailored strategies across key areas like investment, retirement, estate, tax, and business planning. Through continuous updates and proactive risk management, we ensure your financial legacy remains secure and positioned for growth.

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533 S Vinewood Street
Escondido, CA 92029

(858) 216-4144
info@retirementdna.com

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Investment advice offered through Integrated Partners, doing business as RetirementDNA. Please note the other companies referenced on this website are separate entities from RetirementDNA and Integrated Partners and are not authorized to provide, and do not provide investment advisory services.