Recognizing that no investor wants to have to pay more than necessary in taxes, we analyze how certain financial products may make sense for your financial planning in order to minimize your tax burden. Certain products offer tax deferral so that you only pay taxes when you actually take a withdrawal. Others, like life insurance, also offer the opportunity to be used on an income-tax-free basis when structured properly. Unfortunately, this is not always the case as taxes could contain taxable interest, and some insurance products such as annuities, can result in tax penalties for early withdrawals.
To learn more about tax planning strategies, give us a call at (248) 712-6673 and schedule a complimentary financial consultation.
A mutual fund is a type of financial service that can invest your money in various securities, including stocks, bonds, money market instruments, and other assets. The main objective of a mutual fund is to produce capital gains that can be used as income during your retirement. Your portfolio will be taken care of by a financial professional who will make moves with your approval to try to make the most amount of money possible for your savings.
To learn more about mutual funds and how they function, give us a call at (248) 712-6673 and schedule a complimentary financial consultation.
A 519 plan is a tax-advantaged savings plan that you can utilize to help cover the cost of post-secondary or K-12 education. There are two major types of 529 plans: a savings plan and a prepaid tuition plan. Which type of 529 plan is right for you is completely dependent on your goals and situation.
To learn which 529 plan may be right for you, give us a call at (248) 712-6673 and schedule a complimentary financial consultation.