Tax Planning

Our experienced team at Serviss Wealth Management is continually striving for methods to reduce our clients’ taxes. Regardless if it is property tax, tax on your investments or income tax, we specialize in finding you savings and generating peace of mind.

Serviss Wealth Management has close relationships with the accounting and legal field personnel. Our affiliations with reputable business advisors, tax lawyers and CPAs help us offer you the best case scenario.

Some examples include:

  • Equalization of the estate in blended family circumstances
  • Eliminating estate tax and probate in times of serious illness or upon death
  • Coordinating income from Operating Companies to Holding Companies
  • Tax advice regarding real estate holdings
  • Partnership Tax and Legalities
  • Discuss dynamic family issues and Business Strategies

Tax Planning Definition

The goal of tax planning is to determine how to achieve all of the elements within a financial plan in a manner that is as tax-efficient as possible. This is achieved by logically analyzing financial plans or situations from a tax perspective with the goal of aligning finances to be as efficient as possible with taxes. By minimizing tax liability, the other components of one’s financial plan can interact as effectively as possible.


Tax Planning Deciphered

There are numerous aspects taken into consideration when it comes to tax planning such as expenditures along with the timing of both purchases and income. As well, common deductions, investment selection and different kinds of retirement plan options are taken into account. Having an experienced representative on your side can help you navigate these elements and help you incorporate tax planning within your financial plan. The majority of financial actions will have some consequences on the tax front; however, understanding the options and the bottom line prior to making these important decisions is vital to your overall protection.


Connection Between Financial Planning and Tax Planning

The art of creating and implementing specific strategies to ensure you reach your long and short term financial goals is the premise of financial planning. If this process was streamlined and easy however, the world would be full of richer people!

Since taxes constitute such a huge portion of lifetime expenses, it is easy to see why financial planning is closely linked alongside tax planning. The more successful you are, the larger your tax expenses will be over the long run. Reducing your taxes with appropriate planning is an essential part of your financial planning equation.