Tax Planning Strategies
Almost every financial action may have tax consequences that could affect your decisions.
Tax planning should not be done in isolation, but instead should be driven by your overall financial goals and integrated with your total financial plan. Choosing the appropriate strategies is individual to you, so our wealth advisors review your annual tax return, calculate cost-basis, offer recommendations on tax advantage investments, and stay current on the ever-changing tax environment to help you maximize tax reduction opportunities.
How Different Types of Investment Income Are Taxed Interest income, capital gains, dividends, and retirement income - plan for tax time by understanding how various investments are taxed. Even something as seemingly simple as investment income has subcategories, each taxed differently from the next.
Offset Taxes with Retirement Account Contributions Consider using tax-advantaged accounts to help lower your tax bill.
Tax Snapshot Reports Now Available
The Tax Snapshot report is intended to provide you (and your CPA) with a basic year-to-date view of information that would typically be found on a 1099 report.
While not an exact replica of the 1099 report, this information will help you to assess potential tax implications for the current year and make plans accordingly. Call our office to schedule an appointment with your advisor: (605) 352-9490 in Huron or (605)357-8553 in Sioux Falls or email firstname.lastname@example.org.