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counts based on their tax treatment, you 6. Estate Planning: Securing your giving, estate planning, and business
can dramatically improve after-tax returns. legacy without proper planning, estate operations through a tax lens - you
For instance, placing high-turnover, actively taxes can severely erode the wealth can meaningfully and sustainably im-
managed funds in an IRA while reserving you've worked so hard to build. Fortu- prove your financial standing. You'll
tax-efficient index funds for taxable ac- nately, there are numerous strategies gain more than just a lower tax bill;
counts can result in substantial tax savings to minimize these taxes and ensure you'll gain peace of mind, a sense of
over time, see examples below: more of your assets go to your intend- control over your financial destiny,
ed beneficiaries. From annual gifting and the satisfaction of knowing you're
to irrevocable trusts to charitable giv- making the most of every hard-earned
■ Actively managed funds in taxable ac-
count ing vehicles, the options are vast - but dollar.
■ Index funds in IRA so is the complexity. To protect your
■ Total tax paid over 20 years: $100,000 legacy and provide for your loved But tax planning is not without risks and
ones, it's crucial to incorporate estate challenges. Ever-changing tax laws, com-
planning into your overall financial plex rules and regulations, and the potential
■ Actively managed funds in IRA strategy, ideally with the guidance of for costly missteps make it critical to con-
■ Index funds in taxable account an experienced professional. sult with a qualified tax professional before
■ Total tax paid over 20 years: $60,000 implementing any significant tax strategies.

7. Business Tax Strategy: Fueling With expert guidance and a commitment to
. Supercharging: Your Retirement growth and profitability for business ongoing learning, you can feel confident in
Savings Retirement accounts like owners, strategic tax planning is an your ability to navigate the tax landscape
401(k)s, IRAs, and HSAs offer unparal- essential driver of growth and profit- and secure the brightest possible financial
leled opportunities for tax-advantaged ability. The right tax strategy can help future for yourself, your family, and your
saving. By contributing the maximum you: business.
amount allowed, you can slash your
current tax bill while building a nest ■ Select the most advantageous entity type The Time to Act Is Now
egg for the future. And if your employ- and tax treatment. Don't wait until next April to start thinking
er offers a Roth 401(k) option, consid- ■ Maximize deductions for business ex- about taxes. The sooner you embrace stra-
er contributing at least enough to take penses, assets, and investments. tegic tax planning, the sooner you can start
full advantage of any available match ■ Take advantage of tax credits for activi- reaping the benefits: enhanced cash flow,
- it's essentially free money! Just be ties like research and development or greater investment returns, a faster-growing
sure to review your plan regularly and energy efficiency. nest egg, a more secure retirement, a stron-
adjust contributions as your circum- ■ Optimize your compensation mix to ger business, and a lasting legacy of finan-
stances change. minimize payroll taxes. cial strength.

■ Time income and expenses strategically
5. The Triple Tax Benefits of to level out your tax liability. So, take the first step today. Schedule a
Health Savings Accounts (HSAs): ■ Develop a tax-efficient succession or exit consultation with a trusted tax professional
For eligible individuals, HSAs offer a plan. The key is to be proactive, stay and start charting your course to lower
triple tax benefit: tax-deductible contri- informed of changing tax laws, and work taxes, higher returns, and enduring financial
butions, tax-free growth, and tax-free closely with your tax advisor to seize success. Your future self will thank you.
withdrawals for qualified medical ex- opportunities and sidestep pitfalls.
penses. By maximizing your HSA con-
tributions and investing the funds for 8. Putting It All Together: Your
long-term growth, you can build a roadmap to financial success strategic
powerful tax-free nest egg for future tax planning is a complex and contin- Yvette Hampton, MBCP, CFA
healthcare costs. And if you're able to ual process, but the payoff can be CEO - Finance Navigator
pay current medical expenses out-of- immense. By taking a holistic, proac- Diversify Management, LLC
pocket while leaving your HSA bal- tive approach - optimizing your invest- 6050 Babcock St. SE, Ste. 21
ance to grow, the tax-free compound- ments, retirement planning, charitable Palm Bay, FL 32909
ing can be tremendous over time. 321-327-2875

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