Tax planning is a completely different concept than filing your taxes. Tax filing is simply preparing and sending in your tax return to the IRS by the deadline to ensure you are paying your taxes on time. Tax planning helps you seek to ensure that you are paying your share of taxes and not a penny more.
With proper planning, you may be able to reduce your overall liability for income tax, capital gains tax, wealth tax (where applicable) and other taxes on your savings, investments, assets and pensions. You may also be able to lower the inheritance tax liability for your heirs. Strategic planning could help make things easier for you today and for your family when you are gone. Many investments provide tax efficiency and also offer more estate planning flexibility and control.
*Tax services are not offered by Franz Tatum Wealth Management, WCG Wealth Advisors, LPL Financial or affiliated advisors.