Tax Strategies for High Earners
Presented by Laurence Hale, AAMA, CRPS®
Principal/Managing Partner, Chief Investment Officer
The more you earn, the more complicated your finances and taxes tend to become. Creating an overall financial strategy that is both advantageous and tax-efficient can be daunting, but doing so can help to ensure you maximize your hard-earned income and savings while minimizing taxes.
If it looks like you’re likely to owe taxes this year, there are still some things you can do to minimize that cost. At the same time, you should look to put strategies in place to make sure you protect your finances and avoid overpaying in taxes in years to come.
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First, build your team of professionals.
Unless you yourself are an accountant or a financial advisor, you very likely don’t have all the knowledge and expertise you need to navigate the complicated tax code or make the most of your money.
Building a financial team to tackle your taxes and create a long-term financial strategy for your family is well worth the investment. This team usually consists of a CPA (certified public accountant) and a financial advisor. Ideally, these professionals will work well together with you and each other. At Weiss, Hale and Zahansky we pride ourselves on taking a strong partnership approach with our clients and their tax professionals to ensure a cohesive plan is in place that best serves each individual’s unique financial needs and personal goals. When choosing professionals to work with, seek out that same level of care, attention and partnership.
Next, choose your tax strategies.
With these strategies, you may be able to address both your current tax obligation and those of future years. That’s the good news. The not so good news is that navigating taxes can be difficult, and even more so when considered as part of a comprehensive and strategic financial plan.
Feel free to reach out to us at Weiss, Hale and Zahansky for help in building a tailored strategy designed to help you navigate these critical challenges with confidence. In the meantime, learn more about our strategic Plan Well, Invest Well, Live Well process and check out our helpful tax, retirement and other financial calculators and resources.
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Presented by Principal/Managing Partner Laurence Hale AAMS, CRPS®. Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. 697 Pomfret Street, Pomfret Center, CT 06259, 860.928.2341. www.whzwealth.com. These materials are general in nature and do not address your specific situation. For your specific investment needs, please discuss your individual circumstances with your representative. Weiss, Hale & Zahansky Strategic Wealth Advisors does not provide tax or legal advice, and nothing in the accompanying pages should be construed as specific tax or legal advice.