A team of CFP® practitioners and CPAs providing integrated tax planning to maximize investment efforts
Tax planning is a critical component of wealth management. It is imperative that tax planning strategies are integrated into your comprehensive financial plan.
The Prosperity Consulting Group’s founder, Don Hoffman, who is a CPA and has a Masters in Tax Law, is acutely aware of how essential proactive tax planning is for clients. Proactive tax strategies have a great impact on your portfolio and in your ability to accomplish overall goals and objectives. Our firm is dedicated to helping you navigate and strategically plan for tax implications as we work together to help you build, preserve and transfer wealth.
Some of the tax planning areas we concentrate on are:
Income Tax Planning
- Defer from taking short-term capital gains
- Realize capital losses when appropriate
- Mindfulness of IRA distributions and impact on a client’s tax bracket
- Awareness of an investment’s income tax consequences
- Maximize retirement plan contributions to reduce taxable income
- Protection of Social Security benefits from excess taxation
Estate Tax Planning
- Utilize trusts to minimize taxable consequences
- Discussion of life insurance strategies to reduce estate tax implications
- Prudent gifting strategies to transfer wealth
Tax Efficient Investing
- Low turnover investments in taxable accounts
- Portfolio construction / asset allocation strategies to maximize tax efficiency
- Reduce / eliminate Alternative Minimum Tax (AMT) burden
- IRA stretch strategies
- Gifting of appreciated securities
- Use of Charitable Remainder Trust (CRT)
- Establishing private foundations
- Utilization of life insurance planning / strategies
- Guidance on most effective charitable giving strategies given your personal situation and objectives
Business Tax Planning
- Choice of entity
- Structuring sales, mergers and acquisitions of businesses
- Developing buy/sell agreements and family business transitions
- Strategic tax planning
The best financial plan can fall short of accomplishing your goals without great thought given to tax planning and strategies. This component must work in concert with investment, retirement, insurance and estate planning in your financial plan.
Do you want to learn more about tax planning? Send us a message!
Tax services are offered through The Hoffman Group, LLC, an affiliated accounting firm, and other non-affiliated accounting firms with which our representatives are affiliated.