Tax Planning Services
Take the stress out of tax planning.
Tax planning should be an integral part of your overall financial planning. But when you aren’t working in the world of taxes every day, keeping up with the latest tax laws can be exhausting.
Your financial advisor at Greater Midwest Financial Group has the expertise and resources to take care of it for you. We’ll work closely with your accountant and tax advisors to develop an individual, multi-year strategy that minimizes your taxes. Through deductions, retirement contributions, tax-efficient investment strategies and more, we’ll help you reduce your overall taxes paid and manage your income to grow your net worth over time.
Profit from tax savings opportunities.
We incorporate tax nuances into every part of your financial plan. By staying well-informed about current tax laws, we’ll maximize your tax savings opportunities in areas like:
- Education funding
- Retirement plan funding
- Medical insurance and out-of-pocket costs
- Asset transfers
- Gifting strategies
- Tax loss harvesting on non-retirement assets
- Proper ownership of income and non-income producing assets
Simplify your Roth IRA.
To shift your deductions and reduce your taxes, we utilize information from multiple tax years. In certain situations we also match gains and losses, accelerate income and convert your retirement assets to Roth IRAs.
Contact GMFG for more information about our tax planning services.
Converting a traditional IRA to a Roth IRA is a taxable event and could result in additional impacts to your personal tax situation, including the taxation of current Social Security benefit payments. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.