Broker Check

tax planning

We believe tax planning is a year round sport  

Tax planning should always be a key focus when reviewing your personal financial situation and we believe that a proactive approach can lead to better results.  Our goal is to identify tax saving opportunities and strategies to help minimize tax liabilities and ensure maximum tax efficiencies.  We will work with you and your tax planning professional for the best outcome.  Unlike the conventional "wisdom " regarding the need to defer taxes, the goal should be to reduce one's LIFETIME tax bill. 

Though taxes are certain, tax law is not.  Generally with each administration comes new tax plans and proposals which may include changes to some, or all, of the following:  Income tax rates and brackets, capital gains rates, dividends and interest income, exemptions, deductions and credits, payroll tax, corporate taxes, estate taxes, and more.  

By planning ahead and staying informed about changes in tax laws, individuals and businesses can significantly reduce their tax liability while achieving broader financial goals.  We're here to help. 

2026 IMPORTANT NUMBERS  

2026 IMPORTANT DATES     

2026 WHAT ISSUES SHOULD I CONSIDER AT THE START OF THE YEAR

why tax planning is important

  • Reduces tax liability:  Helps individuals and businesses legally lower their tax bills.
  • Improves cash flow:  More money stays in your hands, allowing better savings or investment opportunities.
  • Ensures compliance:  Reduces the risk of penalties or audits by staying within legal boundaries.
  • Supports financial goals:  Aligns tax strategies with long-term financial planning (like retirement or estate planning).

Key Strategies in Tax Planning

  • Income deferral:  Delay receiving income (e.g., bonuses) to shift it to a lower tax year.
  • Deductions & Credits:  Claim all allowable deductions (like mortgage interest and education expenses) and credits (such as child tax credit and earned income credit).
  • Tax-Advantaged Accounts:  Contribute to retirement accounts (like 401(k)s and IRAs), and/or Health Savings Accounts (HSA), etc., to reduce taxable income.
  • Capital Gains Planning:  Manage investment gains and losses to minimize capital gains tax.
  • Business Tax Planning:  Optimize business structure, expenses, and income distribution for small businesses or self-employed individuals

Types of Tax Planning

  • Short-Term Tax Planning: Done at the end of the financial year to reduce immediate tax burden.
  • Long-Term Tax Planning: Part of overall financial planning, aimed at tax efficiency over several years.
  • Permissive Tax Planning: Utilizes provisions allowed under the tax law.
  • Purposive Tax Planning: Involves planning with specific purposes, such as retirement or investment goals.
why tax planning matters

why tax planning matters

We work year round to help ensure that all aspects of your financial plan and investments are functioning in the most tax advantaged ways possible.  Particularly with the new tax laws, we want to be prudent in reviewing the details. 

what issues should i consider at the start of the year

what issues should i consider at the start of the year

Planning opportunities for the year

Terra Blue Wealth Management does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.

Questions, comments, introduce us to a friend - we're here to help!

Thank you!
Oops!