Benjamin Franklin wrote in a letter to French physicist Jean-Baptiste Le Roy, “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” While both are certain, it’s possible to legally limit the amount of taxes one pays to the government through tax planning.

What is tax planning?

Tax planning is an important (and legitimate) way to reduce tax liabilities—the amount owed—in a given year, as well as over time. Depending on your individual set of circumstances, tax planning can help you keep hundreds or thousands of dollars in your pocket.

Types of Tax Planning:

There are four types of tax planning:


Federal Income Tax

  • The U.S. Federal tax code is approximately 7,000 pages long and it helps to have a expert guidance to maximize credits, income and deductions. The impact can be felt year-to-year and over longer periods of time.


  • The financial planning process includes a review of your assets and financial accounts. Some accounts are taxable, while others are tax deferred or tax exempt. Retirement tax planning can help reduce your income tax bill by effectively balancing account structures, Social Security benefits and insurance to maximize your retirement income.


  • An estate—a person’s property, entitlements and obligations—may be subject to taxes after death. An estate plan can help preserve your estate’s value so that tax obligations are minimized, keeping your assets in the possession of your heirs.


  • Those who own businesses or are self-employed can benefit from tax planning from experts who understand the ins and outs of complex tax situations.

Why You’ll Benefit from Financial and Tax Planning:

Benefits of tax planning center on keeping more of your money in your pocket. The tax portion of the financial planning process can add value in areas including goal funding, college saving, retirement saving, estate tax minimization and financial flexibility.

We provide an objective and long-term approach to constructing your customized financial plan. We work as a team and function as the “quarterback” between you and your existing attorneys, tax advisors and insurance agents. And, in cases where you aren’t currently engaged with these professionals, we have a network to which we can connect you.

Our wealth advisors and financial planners are seasoned professionals who have spent much of their careers performing objective planning. Our process addresses investment management, estate planning and tax-related issues. Our process typically includes:

  • A cash flow plan that serves as a roadmap to ensure you are optimally allocated between Core Compounders, Stores of Value, Opportunistic Investments and Diversifiers, and that you are saving appropriately to achieve your goals – including spending before and during retirement, as well as incorporating philanthropic and legacy goals.
  • A comprehensive review – and recommendations on all other aspects of your financial life, including compensation & employee benefits, risk management (personal insurance) and tax planning.
  • A review of your existing estate plans and a “coaching” call to prepare you for meeting with an estate planning attorney, once you are at that stage in your financial life.