Tax Planning for Executives – Avoiding the Taxation Mess
Hello everyone!
Spring has arrived in full force in Florida. We’ve gone from allergy season to the dry season in a matter of weeks. The always wonderful Love bug season is just around the corner! And of course, we just completed tax season.
For the successful executive, both tax season and love bug season have a few things in common. First, I don’t know of anyone who has a good thing to say about either one!
Also
- They are relatively short but intense.
- They can leave a nasty, expensive mess.
- And if you don’t clean up the residue quickly, their impact can stay with you awhile… sometimes for years!
Unfortunately, I can’t help much with the aftermath of the love bug invasion, but I may be able to help you with the 2023 tax season. If you’re a high wage earner, you may be facing several issues that can result in an unpleasant tax bill.
Here are three examples of tax planning scenarios that an executive might encounter.
- How can I develop a tax efficient retirement income plan? Which account should I draw from first?
- Do Roth IRA conversions make tax sense for me?
- What are Medicare surcharges, and can I avoid them?
These are very common yet complex tax situations that aren’t easily solved by a brief Internet search. I’ve invested in several state-of-the-art tools that can help analyze your current tax situation and provide recommendations that can help prevent some of the ugly mess and high costs that may result from missed tax planning opportunities.
If you’re interested in finding out more, please give me a call and Let’s Make a Plan.
Advisory services offered through Capital Analysts or Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker Dealer, Member FINRA/SIPC.www.lincolninvestment.com West Coast Financial Group, Inc. and the above firms are independent and non-affiliated. Tax advice is not offered through, nor supervised by Lincoln Investment or Capital Analysts.