Tax Planning

We start with the premise that our clients do not like to pay taxes. We then work with you to develop a tax plan that will take full advantage of any tax savings currently available. In addition, we also proactively manage your future tax obligations. Tax planning is designed to use the tax laws in your favor, giving you maximum access to your hard-earned assets and income. These strategies allow you to feel more comfortable about your future net worth, regardless of tax law changes. We accomplish this by helping you manage your assets and investments in the most tax-efficient manner, help you plan for future taxable events, and conduct an annual review of your tax position to take full advantage of current tax law. In summary, we believe that proper tax planning is an essential element of responsible financial management.

Our tax planning services focus on helping you:

  • Manage Your Assets in a Tax Efficient Manner
  • Plan for Future Taxable Events
  • Regularly Reevaluate Your Tax Position

We believe that proper tax planning is an essential part of responsibly managing your finances.

Schedule your complimentary consultation with Hundman Wealth Planning today.

Managing Your Assets in a Tax-Efficient Manner

Assets that you own that produce income, likely also produce tax liabilities. However, the tax code does not treat all assets equally. Income from assets can be taxed at different rates depending on whether it is considered “ordinary income” or capital gains. Some income may be tax-deferred, meaning you won’t owe taxes until a later tax year. Assets that lose money in a given year may be used to offset some of the taxable income generated by other assets.

We work to help you manage your assets in a way that allows you to have as much access as you need, while owing as little tax as possible. This is what is meant by tax-efficient.

We look at your complete financial picture and advise you on any changes that could help lower your tax bill. It could be anything from changing the corporate structure of a business to altering the types of assets you currently hold. Our team of experienced tax professionals makes sure you are given a full range of options for managing your assets in a tax-efficient manner. After you decide on a course of action, we help you execute on the strategy.

Planning for the Future

While many people understandably focus on the tax bill due next, we also help you take the long view of your tax situation. Once we become familiar with your financial position, we can help you make tax efficient decisions.

We help you plan for all types of tax liabilities including:

  • State Income Taxes
  • Federal Income Taxes
  • Capital Gains Taxes
  • Gift Taxes
  • Corporate Taxes
  • Alternative Minimum Taxes
  • Local Taxes
  • Estate Taxes

Our mission is to make sure you don’t pay more than you are legally required to in taxes. That means helping you look for ways you can make changes now to avoid bigger tax liabilities in the future.

Reevaluating Your Tax Position

You worked too hard during your lifetime to let someone else decide how to distribute your assets. We believe the first principle in solid estate planning is to listen. We listen to you as you describe your goals and objectives for your assets. We then create a plan that will accomplish your objectives while still keeping the tax consequences as minimal as possible.

Controlling the distribution of your assets is about more than just having a will. Depending on your goals and assets, you may need a variety of different legal structures. We work with you to make sure you have all of the critical documents that are essential for managing your estate in accordance with your wishes.