Tax Planning

It is very important to take into consideration the tax implications of your financial plan.  Each dollar you save from tax liability is one less you have to accumulate to achieve your goals.  At Bridgewealth Advisory Group LLC we strive to optimize tax reduction strategies in consultation with our clients’ tax professionals and help navigate which strategy would provide the most efficient outcome.  We also work with you to prepare multi-year planning scenarios to assure the investment, retirement, or gifting strategies are most beneficial.  

Some of these actions that we analyze are:

  • Required minimum distribution strategies
  • Careful attention to portfolio design to assure the investment vehicles selected are the most tax-efficient which can have a meaningful impact on after-tax returns
  • When is the best time to claim my Social Security benefits?
  • Should I execute a Roth IRA conversion?
  • Should my business fund a retirement plan?
  • Will this investment decision affect my tax bracket?
  • Am I maximizing tax-advantaged accounts such as IRA’s, Roth IRA’s, 401(k) plans, etc?
  • Should I seek taxable, or tax exempt income investments?
  • Discuss the potential tax benefits of charitable giving strategies