Take2 Taxes

The Best Wealth Take2 Tax Efficiency Review is designed to identify assets that might be used for future retirement income and to uncover opportunities for investment tax diversification.

Saving money on taxes is a serious consideration, an investment should not be selected solely on the basis of tax savings. Tax efficiency is more important, and especially for those in high tax brackets, taxes can have a significant impact on your bottom line.The following tax-deferred vehicles are just some of the tools we consider for reducing your tax burden now, while allowing your retirement assets to grow until funds are withdrawn later.

What is the power of tax deferral?

Choosing to diversify your retirement portfolio with a tax-deferred investment will allow you to postpone some of your federal tax liability until later in retirement. The following tax-deferred vehicles are just some of the tools we consider for reducing your tax burden now, while allowing your retirement assets to grow until funds are withdrawn later.

  • Cost segregation
  • 412i
  • Self directed defined benefit plan
  • Solo 401K
  • CRAT (Charitable Remainder Annuity Trust)
  • Captive Insurance Company
  • Family Foundation
  • Family LLC
  • ILIT with Premium Financing
  • Municipal Bonds

*Stocks are tax efficient when you take into consideration the fact that the taxes on stocks do not have to be paid until they are sold and you take profits. At that time, you must pay short-term capital gains tax, if you've held the stock less than one year, or long-term capital gains tax, if you've held the stock more than a year. The difference is significant between short-term and long-term capital gains tax.

At Best Wealth Strategies we believe it is important to keep the lines of communication open between our advisors and the CPAs our clients are working with. Contact Best Wealth to learn more about The Take2 Tax Efficiency Review as investors must meet minimum requirements for all retirement plans and Retirement Plan laws are constantly changing.