Tax Planning

Is your tax liability as low as possible?

For some, taxes are the single largest recurring expense incurred over their lifetime. Yet, because many don’t understand the importance of tax planning, they end up taking a reactive approach to their taxes. For higher income earners, this can be costly. A proactive approach must be taken to reduce your lifetime tax liability.

The Shakespeare Difference

We pride ourselves in developing the best tax planning solutions for each of our clients.

We do this by:

Understanding and taking full advantage of beneficial tax-law provisions.
Uncovering tax deductions and tax credits.
Harnessing all applicable tax breaks available under the Internal Revenue Code.
Most importantly, we get to know your unique situation. The only way to provide the highest level of advice is to get to know you on a one-on-one basis.

Postpone & Avoid Taxes

An effective tax planning strategy strives to reduce, postpone, and even avoid taxes, making it a critical part of the overall financial planning process.

By garnering a comprehensive understanding of your current and future incomes—and working collaboratively with your tax professional—our team will formulate a strategy that will protect the capital and assets you’ve worked so hard to build, and in turn, allow you to save and invest more.

Specialized Tax Planning Strategies and Tactics

We offer comprehensive tax planning for high-income individuals and families ($1 million+ in investable assets). Strategies and tactics we utilize include:

Tax Bracket Maximization
Maximizing Retirement Contributions
Structuring Charitable Contributions
Income Planning
Business Planning
Roth Conversion Strategies
Bunching Tax Deductions
College Savings Plans (529 plans)
Utilizing Home Equity
Maximizing HSAs
Minimizing Medicare Surtaxes
Long-Term Care Deductions
Generational Wealth Planning

CONNECT WITH AN ADVISOR

Download Our Comprehensive Guide

Do you find your tax return confusing? Does it get filed away each year without review? Don't worry, our comprehensive guide to understanding your tax return is here to help. We walk through the most common forms, including Form 1040 and Schedules 1, 2, 3, A, and D, highlighting the key items you need to pay attention to.

With our guide, you'll learn how to verify your personal information, check the accuracy of your Social Security numbers, and understand how your income is reported on your return. We'll also show you how to calculate your deductions, tax owed, credits, and refunds or amounts owed.

Master your tax return and gain the knowledge you need to make better financial decisions. Reach out to a Shakespeare Wealth Management financial advisor for questions about your unique situation.

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