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Tax Planning

Two things are certain in life: Death and taxes. We can’t do anything about the first, but when it comes to taxes, a plan can be put into place to help manage them more efficiently. Taxes are something that can significantly impact your wealth. The amount of taxes that a person pays can be quite astronomical. However, with proper tax planning put into place, the amount sent on taxes can be managed. This is where tax-advantaged investing comes into play.

Investments are just one of the many things that can be taxed. The taxes that are taken from an investment can cut into the total worth of the investment. A tax-advantaged investment allows you to pay less in taxes on the income and growth of your portfolio. When you pay less in taxes on your investments, the overall return on your money will be greater.

Do you live near the Massapequa area of Long Island? Are you interested in taking advantage of tax planning and tax-advantaged investments? If so, contact the highly trained and experienced staff at Investment Insight Wealth Management.

Want to discover more about tax planning and tax-advantaged investments? Please continue to read to learn more.

What is Tax Planning?

Tax planning refers to determining how your income and investments will be taxed, as well as determining what you can do to minimize the amount of tax you pay. Each April, the IRS expects you to file your taxes. This can be a highly stressful time for a lot of people. Often, people have to pay out a good deal of money for their taxes. With tax planning, you can implement certain strategies that will allow you to legally reduce the amount of income tax you need to pay. You can give yourself a raise when you to put a plan in place to reduce your taxes.

What is Tax Advantaged Investing?

Tax-advantaged investing refers to utilizing the types of investments that are taxed in ways that allow you to defer or eliminate taxes. The government collects taxes on virtually all types of income. However, there are certain ways to structure your portfolio so that it is not as highly taxed. These tax-advantaged investments include your employer’s retirement plan, Roth IRAs, municipal bonds, municipal bond funds, index funds, individual stocks, tax-managed mutual funds and non-qualified annuities. Tax-advantaged investments allow you to invest your money wisely while enjoying the tax-deferred, tax-free, or tax-advantaged growth of your investments.

The Benefits of Tax Planning and Tax Advantaged Investing

There are several benefits to tax planning, and tax-advantaged investing. The biggest advantage is that both will allow you to keep as much of your money as possible. Once you pay taxes to the government, the earning power of that money is gone forever. It is quite frustrating watching the money that you work so hard for being lost to taxes. Tax planning and tax-advantaged investing will allow you to minimize taxes whenever possible. This will allow you to enjoy keeping more of your money.

Tax planning and tax-advantaged investing can significantly impact your financial status. Are you considering tax planning and tax-advantaged investing services on Long Island? If so, Investment Insight Wealth Management offers such services. Their highly experienced and dedicated staff is waiting to assist you with all of your tax planning and tax-advantaged investing needs.


Non-Qualified Variable Annuities

An annuity is another way to save up for retirement or another life event.

Tax-Free Municipal Bonds

Municipal bonds give the purchasers interest payments and repayment of the principal at a future time.

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