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Tax Planning

Improving Your Tax Efficiency

Paying taxes might be a necessary side effect of earning an income, but you can take measures that improve your tax efficiency, reducing your obligations throughout the year. Who wouldn’t want to keep more money in their pockets and hold on to more of their assets? Tax planning with Idaho Financial Group provides strategies that seek to minimize your annual tax liabilities to save money.

The Way Tax Planning Works

A tax plan is a year-long approach to decision-making for investments and purchases. We analyze your investments and income streams to determine your current projected tax liabilities and identify opportunities to reduce how much you pay. Potential strategies include:

  • Moving investments from taxable to tax-deferred accounts or vice versa
  • Allocating retirement investments to tax-efficient products
  • Timing asset sales to avoid a bump in capital gains taxes

We also assess upcoming major purchases to determine the best time to buy to lower your tax obligations. Your tax plan should reflect your circumstances. We help you develop strategies that meet your needs while helping you pursue your long-term financial goals.

The Time To Get Started

The time to implement a tax plan is on January 1st for a given tax year. Let Idaho Financial Group help you get started today, so you can save money when tax season rolls around. Contact us to schedule a consultation.

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