Using Your 2024 Tax Return to Strengthen Your Financial Strategy

Every financial decision should serve a greater purpose, whether that’s helping you retire on your terms, supporting future generations, or living more generously today. By reviewing your 2024 tax return together, we can gain insights that help you refine your overall financial strategy. In fact, your tax return is one of the most important documents we can use to tailor your plan to where you are now, and where you want to go.

Here are a few of the ways your tax return can support smarter planning:

• Tax-Efficient Portfolio Management: A thorough understanding of your tax situation puts us in a better position to understand your overall personal finances. This can allow us to discuss different approaches, which may lead to a more tax-efficient investment strategy.
• Retirement Optimization: Comprehensive knowledge of your tax situation allows us to better understand the role each of your retirement accounts plays in your overall financial strategy.
• Tax-Sensitive Withdrawal Strategies: Taxes are one factor to consider when withdrawing money from your accounts during retirement. We can show you different scenarios so you can better visualize why tax management is a critical factor when making withdrawal decisions.
• Coordination of Tax Strategies with Your CPA: Having a clear understanding of your tax situation allows us to collaborate effectively with your certified public accountant (CPA). A well-structured financial strategy should take into account your tax situation as well as a variety of other factors.
• Ongoing Tax Management: Tax laws and regulations are constantly changing. By reviewing your tax returns periodically, we can show you potential adjustments in your financial strategy that may help address new laws and regulations.

Whether you filed in April or have an extension, please call our office upon completion of your returns to arrange a time to review your tax returns together. Alternatively, we can provide you access to our secure portal, where you can safely upload your documents. Please remember not to email your tax returns directly.

Thank you for the trust you’ve placed in our team. We remain dedicated to helping you pursue your family’s financial goals and are honored to be part of your journey.