UlTImATE SUccESS GUIdEto pay the taxman until we take money out. If it is not in an
IRA, what phantom income might be showing up on a 1099
each year?- Are we buying into a capital gain distribution problem by buy-
ing it too late in the year? - How liquid is the fund? If it is a REIT we are probably buying
it through a fund just so we can have the liquidity feature. What
share class should we be in? A, B, or C? This will definitely af-
fect the fund fees and my client’s ability to take money freely
from the fund without penalty. - How is the fund to be owned? Does it go into the family trust?
Should the family trust be the beneficiary? Is there a 100% step
up at death?
And so on... Don’t you want your advisor to be thinking about all these
things so you don’t have to? Well unfortunately, if your “advisor” is re-
ally just an investment product salesperson without a variety of invest-
ment and tax knowledge and experience, he or she probably is NOT
considering these details. It’s not their fault. They just don’t know.
- Do All YoU CAn to sAve tAxes, BeCAUse “It’s
not WhAt YoU eARn. It’s WhAt YoU keeP thAt
MAtteRs!”
“The only difference between a tax man and a taxidermist
is that the taxidermist leaves the skin.”
~Mark TwainWhen was the last time your financial advisor talked to your CPA before
recommending an investment strategy? Did you know there are spe-
cific tax-efficient investment strategies that might save you thousands
in taxes? Are you confident you are paying the absolute minimum taxes
possible?
Review your specific tax situation with your advisors during the year and
make certain you utilize all of you exclusions, exemptions, deductions,
and credits you are legally entitled to. Remember that saving $5000 in
taxes is the same as earning an extra $5000 in your investments!