Tax-Efficient Strategies

While very few investments avoid taxes altogether, many allow you to defer paying them until retirement – when you may be in a lower tax bracket.
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Tax-Efficient Strategies

If taxes rise in the future, will it cut into your retirement savings?

Rising taxes may be a concern for anyone — especially for individuals approaching retirement. Having a solid strategy in place for how you will pay taxes on your retirement income can be an important component to living on a fixed income and avoiding surprises come tax time.

A thorough retirement plan should include strategies to help reduce your tax liabilities. We can help work toward this by:

-- Developing a strategic income distribution strategy for each account
-- Assessing the taxable nature of your current holdings
-- Managing taxable required minimum distributions (RMDs) from retirement accounts
-- Strategizing ways to include tax-deferred and/or tax-free money in your plan
-- Leveraging and preserving qualified money to maximize tax-free wealth for your beneficiaries

Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, without paying current income taxes, potentially allowing it to earn interest at a faster rate. However, few financial vehicles avoid taxes altogether.

Tax-deferred vehicles only allow you to defer paying income taxes until the money is withdrawn — presumably during retirement when you may be in a lower tax bracket. However, we are finding that many individuals are not in a lower tax bracket in retirement when all sources of income, investments and IRA distributions are combined, and there are fewer deductions on dependents, mortgages, etc.

Because tax-deferred vehicles are generally designed to help individuals work toward specific long-term goals, there may be restrictions on when money can be withdrawn without penalty. Early withdrawals may be subject to charges and fees. Withdrawals prior to age 59½ may be subject to a 10 percent penalty in addition to income tax.

Our firm is not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. You should consult a legal or tax professional on any such matters.

Tax Planning

Are you overpaying in taxes?

Paying taxes is part of our patriotic duty, but no one wants to pay more than their fair share. This is as important as ever as you approach retirement. Don’t watch your returns and your estate dwindle as a result of legally avoidable taxes: take action early and get ahead of next year’s tax filing.

We can partner with our in-house tax consultant or your own personal tax professional to help ensure that your retirement assets are allocated and distributed as tax efficiently as possible.

Charitable Giving

Giving back – your way.

Creating a charitable gift-giving plan may provide you with multiple tax breaks: an income tax deduction, the avoidance of capital gains on highly appreciated assets and the reduction or elimination of estate taxes on the charitable contribution upon your death.

With changes in the tax environment, there may be compelling reasons to integrate philanthropy into your financial and estate planning.

We are happy to work with you and a qualified professional to help you decide if this is a good option for you.

Only Pasquale Givelekian Esq., CPA is licensed and registered to provide tax and legal advice, Individuals should consult with a qualified professional for guidance before making any purchasing decisions.

Have Questions for Us?

It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.

At Family Focus Financial Group, we offer you the following services:

(Click the images below to learn more about each service)

Annuities

Wealth Accumulation Strategies

Asset Protection

Life Insurance

Retirement Income Strategies

Tax Efficient Strategies

Long Term Care

IRA & 401(k) Rollovers

IRA Legacy Planning

We can also refer you to professionals who provide the following services:

» Trusts » Probate » Charitable Giving » Estate Planning » Tax Planning

Get access to our helpful retirement kit which includes three guides that address topics you should consider when planning your retirement.

Privacy Policy | Terms of Use

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.

Investment advisory services offered through AE Wealth Management, LLC (AEWM). AEWM and Family Focus Financial Group are not affiliated companies.

Legal documents and counsel as well as tax advice are available through our independent consultant, Pasquale L. Givelekian, Esq., CPA.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.

*Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured.

The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation.

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