Tax
Planning

“The hardest thing in the world to understand is the income tax.”

— Albert Einstein, physicist

Maximize Your Tax Efficiency

No one wants to pay more taxes than absolutely necessary, but with changing laws and new tax-saving opportunities, it isn’t easy to navigate an increasingly complex system.

We take a comprehensive approach to tax planning geared toward the simple goal of maximizing income while minimizing tax burden. Our tax preparers, including trained CPA’s, work alongside our financial advisors, creating a synchronous strategy that combines convenience with expertise. We also take the time to make sure you understand the components of your tax returns and how current tax laws affect you, whether you’re buying a home, saving/paying for college, distributing funds from a portfolio, or reorganizing finances after a divorce. We apply our expertise on your behalf to simplify a complicated process.

Year-Round Tax Planning Services

Annual Tax Preparation
Our five-person tax team works on your behalf to make sure you get every deduction you’re entitled to. WFA’s online portal provides a secure and convenient way to transmit documents during the preparation and review process. After completing your tax return, we outline the results, make recommendations for the upcoming tax year, and provide a summary of recent changes in tax law that could affect you. All returns are filed electronically, so refunds are received at the earliest opportunity.
Withholding and Paying Taxes Throughout the Year
Because no one likes to be surprised by an unexpected tax bill, we conduct a thorough Withholding Analysis and provide recommendations for withholding elections. Our analysis helps you anticipate and prepare for large liabilities or manage large refunds. In situations where there is no withholding, such as for self-employment income, rental income, or realized capital gains, we prepare tax projections and recommend quarterly payments to federal and state taxing authorities.
Year-End Tax Planning
The end of the year presents a variety of opportunities to reduce your tax obligations, and our tax team stands ready to guide you through your options. We prepare analyses to consider things like Roth IRA conversions, tax loss harvesting, and Qualified Charitable Distributions as well as annual contributions to Traditional or Roth IRAs, Health Savings Account, or 529 College Savings Plans.
Benefits from Integrating Tax and Investment Advisors
Imagine the convenience of having your investment and tax advisors in the same office working together on your behalf. This seamless integration means total alignment on tax and investment strategies to maximize income while minimizing tax liabilities. When tax laws change, we keep you informed and explain how these changes impact your financial plan and investment strategy.

Questions We Can Help You Answer

  • Should I change my tax withholding elections?
  • Should I make estimated tax payments?
  • Should I contribute to a Traditional IRA or a Roth IRA?
  • Should I execute a Roth IRA conversion?
  • Should I offset capital gains with tax-loss harvesting?

Certified Financial Experts™

At WFA, you have access to team of professionals including SEC-Registered Investment Adviser Representatives, CERTIFIED FINANCIAL PLANNERS™, and Certified Public Accountants. These individuals provide investment management, tax planning, retirement planning, estate planning, and risk management services. Our financial advice considers your personal situation as a whole, so you can feel confident about your decisions.

Year-round Tax Strategies

“Tax Season” isn’t the only time to think about taxes. Year-round planning allows you to take advantage of tax strategies and the historically low tax brackets currently available to maximize your tax efficiency throughout the year.

 

Learn more by scheduling a free consultation.

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