As you begin your year-end planning, here are three areas where coordinating tax, legal, and financial advice can pay off.
Investments. Capital gains and losses from sales of your securities
affect your taxes, of course, but the kind of investments you make can also
have an impact. For instance, buying municipal bonds to generate tax-free
interest may result in the unintended outcome of creating income subject to the
alternative minimum tax.
Insurance. The type of health insurance plan you select can have
tax implications. An example: A Health Savings Account (HSA), used in
conjunction with a high-deductible health plan, can save premium and tax
dollars. You fund an HSA with pre-tax cash and take tax-free withdrawals to pay
medical expenses.
Estate planning. Wills, trusts, and beneficiary designations
provide the framework for carrying out your wishes after your death.
Communication between your tax and legal advisors helps ensure that these
documents offer the greatest protection for your heirs while minimizing estate
tax consequences.
Please call us at (518) 798-3330 to schedule a
comprehensive review of your goals. We would be delighted to be part of your
professional team.
