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117 E Elm Street

Bluffton, OH 45817
Thinking “Tax Efficiency” all year round

Thinking “Tax Efficiency” all year round

May 17, 2022

For many people, ‘tax season’ is over and tax details are no longer front of mind. Perhaps you’ll start thinking about taxes toward the end of this year, or, at the beginning of April next year. I hope for your sake - or for your CPAs - that you don’t wait until April to start thinking ‘taxes.’

In fact, it could be beneficial to have a conversation with a trusted adviser about taxes well before the end of this year. Every citizen who earns an income or who has recognized any gains could have a tax liability. There is a multitude of strategies to help reduce one’s tax liability now or in the future. Navigating those options on your own can be overwhelming. When it comes to investing, and the ups or downs of the market, it pays to look at your portfolio through the lens of tax efficiency and long-term planning. In some situations, increasing your tax bill now can be beneficial for your future. This is especially the case when it comes to Roth conversions when done within reason.

Ultimately, each person’s situation, age, goals, timeline, and expectations influence their decisions for tax planning purposes. We can help with these details, and it all starts with a simple conversation. Let us know if you would like guidance in navigating these complex details.