Tax laws and regulations are continually changing, evolving, and growing more complex. The tax code can become even more confusing for individuals, families, retirees, and business owners who have accumulated significant amounts of wealth.
At Sonmore Financial, we believe that tax planning is integral to your overall financial health. Not only is it important to incorporate tax-efficient tactics and strategies into your financial plan, but it is also imperative to consider how taxes could affect your investment returns over time. We work with a team of experienced, credentialed tax professionals to ensure that our clients’ plans are fully optimized to help them keep more of their earnings and grow their wealth for the future.
From an investment standpoint, we also incorporate tax-loss harvesting and regular rebalancing into our approach to ensure our clients are making the most tax-smart decisions no matter what’s happening in the markets.
Transferring a traditional IRA or 401(k) into a Roth IRA is one way to help create opportunities to minimize taxes. But this is not the answer for every person. Those considering a Roth conversion should consider whether the timing makes sense. For instance, if you think that you will be in a higher tax bracket at a certain point in time, it may make sense for you to pay the lower tax liability now. Cash flow, retirement time horizons, and tax law changes should also be taken into consideration.
At Sonmore Financial, we intend to be an integral member of your financial team. This means that we work closely with your tax, legal, and other advisors to ensure that your financial plan and investment strategies accurately reflect the big picture.
Asset allocation and investment selection are two important factors that affect returns. However, the after-tax return on your investments is a much more important number than the top-line performance number on any individual investment asset. Tax-efficient investments help minimize the capital gains associated with buying and selling stocks - therefore, minimizing taxes. We work with you to ensure that asset allocation considers the tax implications of buying and selling your investment assets. However, taxes are only one piece of a much bigger financial puzzle. This is why creating tax-efficiency is only one of many considerations when creating the best investment plan for you.
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Whether you are building assets for the future or seeking to protect, enjoy and pass on those you already have, Sonmore Financial provides the sound, professional counsel to help you get there, with confidence. Learn more about what you can expect in the first 90 days with our team.
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Advisory services offered through Sonmore Financial, LLC, a Registered Investment Advisor in the State of Arizona.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization’s initial and ongoing certification requirements to use the certification marks.
