We like to say, “It’s not how much you make, it’s how much you keep.” Tax planning is not something you do on April 15th. All you’re doing is turning in your scorecard – it’s called a 1040. A tax planning strategy is something you create for the year, and throughout your life. In some cases, our recommendations may help you today, while others are designed to help you later in life. In fact, it’s remarkable how much of a high percentage of our clients (and likely middle and upper middle class Americans) are actually in a lower marginal income tax bracket today than they will be in retirement. We aren't here to replace your accountant, but instead work with them to create your personalized tax planning strategies.
Tax-Efficient Portfolio Management: A thorough understanding of your tax situation puts me in a better position to understand your overall personal finances. That can allow us to discuss different approaches, which may lead to a more tax-efficient investment strategy.
Coordination of Tax Strategies with Your CPA: Having a clear understanding of your tax situation allows me to collaborate effectively with your certified public accountant (CPA). A well-structured financial strategy should take into account your tax situation as well as a variety of other factors.
Ongoing Tax Management: Tax laws and regulations are constantly changing. By reviewing your tax returns periodically, I can show you potential adjustments in your financial strategy that may help address new laws and regulation.
Why Choose Menninger & Associates to assist with Your Tax Planning Strategies
- We work together with your tax professional to develop unique strategies and solutions for you
- Qualified and certified investment and advisory professionals
- Available and actively working for you all year, not just during tax season
- We understand your financial goals
- We take the time to educate and answer all your questions
- Offer individual and business tax planning strategies alongside your investment goals
A Tax Planning Strategist You Can Trust
Michael Menninger CFP® and his team pride themselves most on their extensive knowledge of the tax laws as they apply to financial planning, particularly retirement planning. Through their tax planning strategies, Michael has been providing educational seminars, as well as tax planning strategies as a routine service to their clients for over 20 years. They have taken the seemingly complex tax laws and broken them down into an easy-to-understand manner. In doing so, Michael and the team teaches clients tax fundamentals, and the basics of the tax code as we develop specific strategies to help them pursue their financial goals and objectives.
When to Work with your Financial Advisor
- You went through a major life change such as getting married or having a baby
- You had multiple sources of income or started a new business
- You’re worried about not getting your taxes completed correctly
- You are committed to saving for retirement
- You receive an unusually large return or have a large tax bill each year
Do any of this apply to your situation? Call us today for tax planning strategies that are in harmony with your financial goals. 610.422.3773
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Menninger & Associates, LPL Financial, nor any of its representatives may give legal or tax advice.