Tax Planning Increases Wealth Accumulation
The income tax consequences of the financial decision-making process can represent the single largest annual expenditure. The obvious importance of minimizing a client’s tax burden cannot be overstated. The tax code spells out the deductions and credits that an individual taxpayer is allowed. It is the intention of Congress that taxpayers do not pay more taxes than they are required, however ignorance of the tax code can result in taxpayer’s paying more than their fair share of the tax burden. How important is it to you that you do not pay more tax than is required?
To some taxpayers, the IRS is such an ominous force, that they seem almost unwilling to undertake simple steps to save significant income taxes. There is a big difference between tax evasion and tax avoidance with the former headed to towards ruin and the latter on a path makes it easier to reach your True North.
Tax consequences of financial decisions related to investment, retirement and estate planning are critical factors that can determine the success or failure of a strategy.
A True North Financial Advisor can assist in the decisions-making process that is related to the following tax considerations:
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A True North Financial Advisor can work directly with your CPA or tax advisor to coordinate the investment, retirement and estate planning decision-making with tax consequences in mind.
