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Tax Planning

Tax Planning? Do you mean preparing my taxes?

When you work with Ridgeview Financial Planning our ongoing conversion will include tax planning. This includes looking at your investment portfolio, other investments, current tax returns and thinking about potential future tax rates. There are often several ways to minimize your taxes. So while I don't prepare your tax returns, I'll work with you and your tax advisor so everyone is on the same page. Here's a sampling of some of the topics we'll cover:

Asset Location

You've likely heard about Asset Allocation, but how about Asset Location

  • What kinds of investments should go into my Roth versus my IRA?
  • Do municipal bonds make sense for me right now?
  • I have a concentrated position in low-basis stock. How can I reduce its size in my portfolio without getting hammered by taxes?
  • What investments should go into my taxable brokerage account versus my IRA?

Tax Loss Harvesting

This is an important part of the service I provide clients who work with me on an ongoing basis. Each year we will:

  • Look at your expected taxable income for the year and plan for potential capital gains and dividends
  • Rebalance your portfolio in a tax smart way, taking advantage of any losses to cover gains
  • Incorporate any capital loss carryforwards into our plans for realizing capital gains

All of this tax planning work helps to keep more of your returns in your pocket. Many of these strategies are simple to utilize but most people don't have the time or the inclination to use them. I do and I love this stuff.