When most people think about tax planning, they think about reducing the current year’s taxes. While there are certainly opportunities for current year planning, often a far larger tax reduction comes from planning that covers one’s entire life span.

Tanglewood is introducing a six-part series addressing long-term tax strategies, the tax planning opportunities that often require thoughtful preparation well in advance of implementation to recognize, capture, and optimize a full array of tax benefits.

• Working Years – Tax opportunities available while building wealth and earning income.
• Retirement – Strategies that help coordinate income, tax brackets, Social Security, Medicare, and retirement distributions.
• Charitable Giving – Approaches that maximize charitable impact while optimizing tax benefits.
• Investing – Tax efficient portfolio structuring and maintenance that integrates with other tax strategies.
• Family Wealth Transfer – Techniques that shift wealth and income across generations to maximize multi-generational tax savings.
• Business Ownership – Advanced opportunities available to business owners throughout the business life cycle, including succession planning.

Each installment will be full of tax strategies on that subject but also make connections with the other five.

A final installment will amplify the connections between all relevant tax strategies.

Lifetime Tax Planning is an integral part our wealth management services to participating clients.