Tax Planning

tax planniing analyzes finances from a tax perspective

Tax planning involves analyzing your financial situation or even your financial plan from a tax perspective.  Meaning, looking at each of the components of your situation or plan to determine where the possibilities for taxes might be high.  Then developing strategies that strive to reduce or eliminate your tax liability.  Tax planning is an important part of a financial plan.  Without it, portfolios can be eaten up by taxes.  

The goal of any successful financial or retirement plan should be to reduce your tax liability while maximizing your eligibility to contribute to your retirement plans.

Tax Planning and Strategies

We can help you decide what types of investments could help you limit your tax liability.

Choosing the correct type of financial or retirement plan is an important first step in helping you reduce your tax liability from year to year. We are specialists in Financial and Retirement Planning. Whether it is a 401k for your corporation, SEP-IRA for your self-employed business or an IRA for you and your spouse, we will work with you to find out which option would best fit your needs.

The Center for Wealth Management, however, does not provide tax advice but can work with your qualified tax professional to make sure they agree with the plan we develop for you. If you do not have a qualified tax professional, we can recommend a tax professional to you.

Locally, we refer our clients to Empowered Insights. They are a full service accounting firm that can handle your accounting needs.  Some of the services they offer include payroll, tax preparation and a variety of other related services that can be individualized to fit your specific needs. 

Keep in mind that you are not obligated to utilize their services. Empowered Insights and their services are not affiliated with or endorsed by LPL Financial.

Do you want to learn more about our Tax Planning service? Call us at (513) 407-5430.


Tax Resources

<p>Donating Art: Taxation Abstraction</p>

Donating Art: Taxation Abstraction

The tax rules that govern donating art are complex and confusing. Take a closer look.
Learn More
<p>What Is a 1035 Exchange?</p>

What Is a 1035 Exchange?

1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.
Learn More
<p>Tax Deductions You Won't Believe</p>

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
Learn More

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