Tax Planning
We take a proactive approach, not a reactive approach.
How We Help You Keep More of What You Earn
Tax preparation looks backward. Tax planning looks forward. Through our advanced tax planning service, we can help:
Identify Future Opportunities:
We review your current tax situation to identify unnecessary tax drag that is quietly eating away at your wealth.
Plan Strategic Withdrawals:
The order in which you pull from your investment and savings accounts can save you thousands. We build a sequence designed to minimize the Internal Revenue Service’s (IRS) cut.
Address Business Owner Needs:
For high-income business owners, we look at advanced tax mitigation strategies to help you protect your bottom line before the year is over.
This service doesn’t stand alone. It ties in with other services as a part of your Raleigh Wealth W.A.Y. to a more confident retirement.
Frequently Asked Questions
Common concerns about reducing tax expenses and keeping more of what you’ve earned.
Tax preparation looks backward and reports what already happened. Raleigh Wealth Solutions focuses on tax planning, which looks ahead to execute moves that lower your liability before the year is over.
Retirement income comes from several sources, each taxed differently. Raleigh Wealth Solutions identifies your specific tax bracket and coordinates your income to prevent your taxes from being charged at a higher rate than necessary.
Your tax bill depends on which accounts you pull from and when. Raleigh Wealth Solutions coordinates distributions from taxable, tax-deferred and tax-free accounts to create a balanced approach that manages your taxable income over time.
The order of your withdrawals determines your long-term tax outcome. Raleigh Wealth Solutions builds a sequence that prioritizes tax efficiency across all your account types to maximize your net income.
A Roth conversion moves money from tax-deferred accounts into Roth accounts to eliminate future tax liability. Raleigh Wealth Solutions evaluates your current income and projected tax rates to determine the exact amount and timing for a conversion.
RMDs are mandatory withdrawals from retirement accounts starting at a specific age. Raleigh Wealth Solutions manages these withdrawals as part of your overall income strategy to prevent them from pushing you into a higher tax bracket or triggering surcharges.
IRMAA refers to surcharges that increase your Medicare premiums based on your income levels. Raleigh Wealth Solutions monitors your income thresholds to prevent high-income events from triggering these unnecessary costs.
In the right situation, advanced planning creates meaningful savings. Raleigh Wealth Solutions uses advanced tax mitigation strategies for business owners that can save up to $200,000 for every $1 million of income.