Avoid the Tax Drain

We often hear people say last year was a good tax year because I got a refund, or it was a bad tax year because I ended up owing. However, in my opinion, rarely can they tell us what tax bracket they were in or how much they paid in total income taxes.

I believe the reality is that a good or bad tax year should be measured by the introduction and implementation of strategies that enabled you to pay less taxes altogether.

Many of you reading this may have achieved a level of financial independence that you could only dream of 20 years ago. Now the question becomes, how do I keep Uncle Sam out of my pocket and hold onto my money for my family and me?

By looking ahead and understanding the changes that may be on the horizon – both in your financial situation and the tax code. For instance, did you know that in 2026 the tax brackets are due to sunset back to brackets from2017?

Additionally, the estate and gift tax exemption will return to $5.49 million from its current level of $12.06 million. This can mean that your current estate plan (i.e., will or trust) may no longer be sufficient depending on the size of your estate.

While we don’t prepare income tax returns and estate planning documents, we can collaborate with your CPA and estate planning attorney to help identify and implement strategies that may be able to save you money on your taxes over time.

Call us today at 877-2-RETIRE to schedule your complimentary initial consultation to determine tax planning strategies that may exist for you.