It’s said that only two things are certain in life: Death…and Taxes! And while there’s not much you can do to avoid the former, with prudent planning and foresight, there’s a lot you can do to minimize the later. However, similar to planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits – but only if it’s done professionally, and earlier on during your wealth accumulation cycle.
Our Tax Planning philosophy is not centered around tax avoidance, but rather on helping you structure your finances so you and your family aren’t overburdened by an undue tax liability.
Consider this fact: If you managed to shave-off just $250 from your tax bill each year, through prudent Tax Planning, and invested it at a 5% rate of return annually, you could have a tidy sum of over $15,250 waiting for you by the time you retire in 30 years!
Delayed tax planning is tantamount to leaving potentially savable dollars, of your hard-earned money, on the tax table for others to benefit from. The longer you defer tax planning, the more money you’ll end up owing and paying in taxes. That money could potentially have been saved, through a reduced tax bill, invested and grown, through the magic of compounding, over many years.
We help our clients through long-term Tax Planning strategies – and that’s exactly how we’ll help you. Tax planning does not commence on the date of filing your tax returns. Prudent tax planning often starts long before – sometimes even before you make investment decisions that trigger a tax liability. We can help devise tax planning strategies that minimize taxes, maximize tax refunds and guide you to optimize your tax-friendly investment returns.
Here’s what we can do for you through our Tax Planning service:
Barnett Financial Partners does not provide specific tax/legal advice and this information should not be considered as such. You should always consult your tax/legal advisor regarding your own specific tax/legal situation.