Tax Planning

Tax Planning is a critical, and increasingly more important component of financial planning.  Every area of financial planning has tax consequences.  It's important that your financial planner understand the tax consequences of their recommendations.  Additionally, financial advisors cannot give tax advice unless they are a tax professional, generally that means a CPA or Enrolled Agent. To that end, I undertook the process of becoming an Enrolled Agent. 

Let's start with what I don't do.  I do not prepare tax returns.  My purpose in becoming an Enrolled Agent is to have deep knowledge of taxation and how it relates to the areas of financial planning I specialize in.  If you have someone prepare your tax return, I will work with them to make sure we coordinate our efforts.

What I do for my clients: I analyze their tax return and create an Annual Tax Report that can be shared with your tax advisor to ensure that our financial planning recommendations and tax considerations match.  I also help with tax bracket management to ensure that important credits and deductions are available.  Tax bracket management is extremely important when considering a Roth IRA conversion or other unusual income situations.  You don't want to jump into the next tax bracket unexpectedly. Finally, I can perform scenario analyses so you can understand the implications of financial decisions.