Ask yourself these key questions when tax planning to ensure that you receive the largest possible tax savings:
1. Does your tax team include a tax planner or advisor who is knowledgeable about current tax laws?
2. Is your strategic tax planner aware of your entire financial agenda?
3. Is your advisor knowledgeable in both personal and business tax laws and filings?
4. Have you reviewed your previous tax years returns line by line with the advisor to discover viable changes relevant to you?
5. Are your tax, financial, and legal team on the same page?
6, Are you getting your primary tax advice from a neighbor or family member?
7. Does your current tax plan encompass your estate goals, retirement objectives, philanthropic interests, existing investments, business revenues, and personal income?
8. Are you meeting with your advisors between April and September?
9. Is your investment income realizing the most tax-efficient benefits?
10. Does your retirement plan include IRAs, 401Ks, and substantial life insurance where applicable?
Keep in mind there is no order of importance related to these questions as they are all equally important to your overall financial success.
If I can be of service to help you design, plan, and implement your financial or tax plan do not hesitate to reach out to me at JeffreyLevine.Solutions today for your free 20-minute consultation.