Tax Planning

Our tax planning strategies are designed to maximize your investment returns while minimizing your tax liabilities. By carefully analyzing your unique tax situation, we develop personalized tax strategies to grow your portfolio while lowering your tax burden.

This approach includes optimizing your retirement accounts, ensuring they align with your overall tax planning strategy for maximum long-term benefit. As you begin to withdraw from your investments, we offer guidance on tax optimization strategies. We will help you manage tax implications and protect your accumulated wealth.

Our collaborative approach involves working closely with your CPA to align investment decisions with tax planning and strategies. It adapts seamlessly to any changes in tax laws and regulations.

We take a proactive approach by thoroughly reviewing your tax returns and identifying opportunities to implement strategic adjustments to enhance your financial well-being. This tax planning and optimization method ensures that your investment and tax strategies are synchronized and optimized for the ever-changing financial industry.

Modern Wealth helps you focus on strategic tax planning and applying effective tax optimization strategies. We help ensure your financial plan is efficient, sustainable, and aligned with your long-term goals.

Whether you’re seeking tax planning tips for individuals or need a comprehensive approach to personal tax planning, our goal is to help you go through the complexities of taxes while enhancing your financial success

Considering all the above tax planning strategies, we provide two simple-to-understand documents summarizing all the benefits in our Scenario Analysis and Tax Analysis reports.

Our Scenario Analysis Report helps us quickly identify key income breakpoints for tax planning opportunities such as Roth conversions, tax-efficient withdrawals, charitable giving, and much more. This is part of our tax optimization strategies, designed to maximize your financial outcomes while minimizing your tax burden.

The Tax Analysis Report offers a clear breakdown of all the essential figures you need to understand—Total Income, Adjusted Gross Income (AGI), Total Tax, and your Capital Gains, among others. Handy tooltips are available to clarify any terms if you’re confused by the jargon.

Key highlights of our tax planning and strategies include:

Ordinary Income, which includes standard earnings. And Qualified Income, derived from capital gains and dividends, each with their distinct tax treatments. This is crucial for effective income tax planning.

To simplify the complexity of Modified Adjusted Gross Income (MAGI), we’ve developed a “MAGI Tiers” approach. It offers a customized analysis of how different financial situations can impact things like Medicare Part B/D premiums.

Understanding tax brackets is vital. Our report categorizes income into Ordinary and Qualified, acknowledging their different tax rates. And it ensures precise tax bracket placement for strategic tax planning. This allows you to know the exact tax obligations for each income type.

To further enhance your financial decision-making, we calculate your average tax rate. Moreover, we provide a transparent perspective on how your income relates to the taxes you owe. This simplified analysis helps with tax planning and optimization, ensuring you know the full impact of tax on your overall financial picture.

With these insights, you’ll have a clearer view of your tax landscape and can apply the best tax planning strategies for your unique situation. Our reports are designed to support effective tax planning and help you confidently plan your tax strategy.