For nearly forty years, the tax planning department at American Investment Planners LLC has been coordinating both a client’s return with their Optimal Position. It means we consider not only the number of deductions and their timing but the possible ways to reduce taxable income. In some cases, we recommend a twice-yearly review to ensure that we are maximizing the efficiency of a return while minimizing the tax liability. But one of our greatest benefits is how closely we work with our Financial Planning team. Together we choose the best investment strategies to work with tax brackets instead of against them. This seamless approach to tax planning can make a big difference!
Upon reviewing one to three years of your most recent tax returns along with your investment portfolio, we can identify potential issues, look for favorable opportunities and make recommendations.
For example, we will assess the timing of withdrawals to make sure the sequence offers the greatest tax efficiencies. We can also review distributions from retirement accounts and reinvested dividends as well as look at the benefits of shifting to municipal securities (tax frees). Finally, we forecast expenses and income from defined benefit pension plans, Social Security, inheritances and other sources.
After reviewing your case, we will be happy to provide you with a cost estimate for preparing your state and federal returns.
Tax preparation can be very complex especially in the midst of major lifecycle events. Whether it is a change in marital status, retirement, buying/selling a business, buying/selling real estate or making other transitions, having your taxes reviewed by an experienced team can help you identify deductions and write-offs while preventing expensive miscalculations that can result in a higher tax liability.
“One of our greatest benefits is how closely we work with our Financial Planning team. Together we choose the best investment strategies to work with tax brackets instead of against them. This seamless approach to tax planning can make a big difference!”
- John L’Abbate, CFP®, Director of Tax Planning
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