Tax Planning

Tax Planning

Paying taxes is inevitable; paying the appropriate amount is an art.

It’s said that only two things are certain in life: Death…and Taxes!  And while there’s not much you can do to avoid the former, with prudent planning and foresight, there’s a lot you can do to minimize the latter.

However, like the planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits – but only if it’s done professionally, and earlier on during your wealth accumulation cycle.

Our Tax Planning philosophy is not centered around tax avoidance, but rather on helping you structure your finances, so you and your family aren’t burdened with unnecessary taxes.

What We Can Do For You

  • Tax-advantaged Advice: While the best advice you can get is – Save, Save, Save as much as you can. The next best advice is: Be careful how you invest those savings. We will include considerations on whether you should invest with pre-tax dollars, or post-tax income. How you invest, and in what types of vehicles, can make a significant difference to the taxes you pay. We’ll help you navigate through the various advantages and disadvantages of choosing one strategy over another.
  • Tax-impacted income: When planning for tax impact on your income, we’ll also plan for the types of income that you might receive: Dividends, Interest, Annuity payments, Capital Gains, Inheritances, Employer or Government benefits. While all of these are potential income streams in retirement and before, each has different tax planning implications.
  • Tax-protected legacy planning: We’ll help you mitigate possible tax impacts when it comes to your estate. A good tax plan will ensure that future generations do not bear the burden of taxes because of the legacy you leave them. But to ensure a tax-advantage inheritance to your beneficiaries, you need to put appropriate plans in place NOW – and that’s where we can help.

In addition to Cocheco Financial providing investment planning structure with a tax-friendly perspective in mind, we work closely with our partner CPA’s and will be happy to provide you with a referral when tax preparation or auditing is required.

Luck and hope should not be a part of your plan.
Contact us today for a simple, easy conversation to get started.

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