When we talk to clients throughout the year or during their annual review, we routinely ask for a copy of their most recent tax return.
Reviewing your return provides us with valuable insights into your total financial picture.
For example, by looking at your tax bracket, we can determine whether taxable or tax-exempt bonds are best for your portfolio. Should we concentrate on earning more interest and dividends, or skew your portfolio toward capital gains?
Are you eligible for a Roth or Traditional IRA? Can we save you money by setting up a tax-deductible retirement plan for your business, or should we recommend a Roth conversion?
Should you put more money into your 401(k), or pay down your mortgage? Have you overlooked important deductions that could cut your tax bill?
These are all questions we can help answer by taking a look at your tax return.
Financial Tip: Without reviewing your return, we can’t give you the expert advice you’ve hired us to provide. So please help us do the best possible job for you by remembering to send us a copy of your tax return once it has been filed, or even easier, by authorizing your tax preparer to send a copy directly to us!