Tax Planning

Major or minor tax acts seem to debut nearly every year, compounded by additional opinions from the IRS and rulings from the tax courts. So how do you navigate this complex maze of tax laws? More important, how do you best take advantage of changing laws in order to accomplish the dreams for you and your family? Effective tax planning is a long-term, year-round process, and cannot be executed in the waning days of December. Tax planning should ensure “tax efficiency,” when handling all elements of a plan. Working with your CPA, we will help deploy various strategies such as:

  1. Defer your income. By deferring income to a later year, you may be able to minimize your current income tax liability and invest the money that you'd otherwise use to pay income taxes.
  2. Shift income to family members. You may also be able to minimize your federal income taxes by shifting income to family members in a lower tax bracket.
  3. Deduction planning. Part of minimizing federal income tax is about taking advantage of deductions, and timing them in the most beneficial manner.
  4. Investment tax planning. You can also minimize tax by making tax-conscious investment choices. Potential strategies can include the use of tax-exempt securities and intentionally timing the sale of capital assets for maximum tax benefit.






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Investment Updates

Investment advisory services offered through Lumin Financial LLC, which is an independent Registered Investment Adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed on this site.


Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.