At Halliday Financial we believe it is unwise to create a solid financial plan and then ignore the possible losses and inefficiencies that can often accompany taxes.
There’s an old expression in financial services: it’s what you keep that matters. Understanding the tax ramifications of financial decisions ranging from selecting the right investments, to managing income taxation year to year, to estate planning for the most advantageous multi-generational tax impact can be the difference between achieving financial goals and not achieving them.
Halliday’s Tax Pledge
Intelligently navigating the tax landscape with our clients is so integral to what we do at Halliday Financial that we have allied ourselves with a CPA group that helps many of our clients:
- Prepare individual income tax returns
- Understand the tax implications of their investments
- Consider the tax effects of possible estate planning strategies
Impact of Taxation
Every investment you own may be taxed in a different way. The taxation of dividends and interest is different than the taxation on capital gains or withdrawals from an IRA. Knowing how these differences may impact your net returns and planning to create the ideal balance between pre- and post-tax returns is crucial.
At Halliday Financial, we have found that keeping track of the impact of taxes in best accomplished when the tax consultant and the HFG Financial Advisor or Wealth Advisor work closely together.
For many families, the most important area of tax planning relates to their estate plans. In an environment of changeing regulations, ensuring that your estate plan is current and is designed to take advantage of tax savings opportunities is essential.
Avoiding or reducing estate taxes, on both the federal and state levels, is one fundamental goal of estate planning. On another level, though, shifting the burden of paying income taxes, even if your estate will not be subjected to estate taxes, can increase the assets left to heirs. Through a deep understanding of the use of IRAs, charitable gifting and other investments such as life insurance, your Halliday Financial Advisor, in combination with the efforts of our network of accountants and attorneys (or your tax and legal professionals) can help you build an effective strategy that makes sense.
Ask your Halliday Financial Advisor or Wealth Manager about Halliday Financial’s Tax Services.