"The man who is prepared has his battle half fought."
Miguel De Cervantes
As you accumulate wealth, taxes are inevitable. Having a clear strategy for how you approach and attempt to mitigate taxes year over year can help you keep more of your assets working for you. In collaboration with your tax professional’s advice, your tax strategy can help you define a clear plan for navigating current tax law intentionally and proactively.
Brandon and Jennifer are busy business owners who rarely have time to sit down and plan. As a result, they are often frustrated around tax time. Brandon and Jennifer have recently sought out comprehensive financial planning to discover how they could use their business to help maximize their retirement savings and to employ more productive tax strategies. In collaboration with their tax accountant, their financial planner was able to review their current business structure and suggest several solutions to manage both their taxes as well as their retirement savings each year. Brandon and Jennifer now feel like they are proactively planning for taxes each year instead of feeling like they are caught off guard by taxes each year.
This is a hypothetical case study that is intended to illustrate products and services available through Waddell & Reed. It does not necessarily represent the experience of other clients. The information and strategies presented are not appropriate for every investor. Individual clients should review with their Financial Advisor the terms, conditions, and risks involved with specific products and services.
Waddell & Reed does not provide tax advice.
At Elevánt Wealth, we help our clients see taxes through a long-term lens focused on their goals.
In collaboration with our client's tax professional, we can work to help ensure that taxes are approached intentionally and proactively. Financial Planning while taking taxes into account can bring reassurance that you are doing all you can to pursue your financial freedom.