Tax Planning

Tax planning is another issue that can get pushed back behind other priorities. Superior tax planning requires being in strong communication with your advisor and your accountant about your investment income and capital gains picture. Your accountant may need information from your advisor to accurately prepare the schedule of estimated tax payments. When your accountant and financial advisor work together, your needs can be addressed in a proactive way that keeps you current and prepared for what you owe or can save in taxes. No one wants to write an unexpected big check due to poor planning, especially if the money hasn’t been set aside! This is avoidable by planning up front (1) how you’re going to handle your taxes, (2) who’s ...

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