There are numerous types of taxes in our U.S. tax system.

Fortunately, there are a few taxes, which clients can plan for, and minimize or eliminate, with good tax planning strategies. U.S. taxpayers have a legal right to arrange their financial affairs in such a way as to reduce, and even eliminate, their tax burdens. However, good tax planning involves guidance from a professional qualified in tax matters.

Shari Mattingly-Bevan has a tax certification from law school. This means that she took extra courses that emphasized a program in taxation of multiple kinds of tax. Shari takes into consideration tax planning opportunities during every phase of assisting clients with their wealth transfer planning.

Strategic Tax Planning

Generally, there are four types of taxes clients can plan to reduce and possibly eliminate, with strategic planning:

  1. Income taxes: during working years, as well as during retirement
  2. Capital gains taxes: often this type of tax planning involves harvesting capital losses to offset capital gains from investments, as well as the timing of utilizing certain strategies
  3. Gift taxes
  4. Federal estate taxes: the government, in effect, has determined U.S. taxpayers are only permitted to die with a certain amount of wealth, before their estates (all assets owned on the date of death, including any interest in life insurance policies) are subject to the federal estate tax. There are tax, gifting and wealth transfer strategies available to all clients to eliminate and/or reduce the application of this onerous tax.

Next Steps...

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