Disclosure:

Investment Advisory Services offered through Investment Advisor Representatives of Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC, to residents of: NC. Cambridge and Family Legacy Financial Solutions are not affiliated. We are licensed to sell insurance products in NC, FL, NH, CA, VA and TX.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. This site is published for residents of the United States only. Not all of the products and services referenced on this site may be available in every state and through every representative listed.

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Contact Us:

Office: (919) 379-9000

1000 CenterGreen Way, Suite 190
Cary, NC 27513

✉  todd@familylegacync.com

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Tax Planning

Many consumers don’t fully consider or understand the impact taxes can have on their retirement plan. Failing to properly structure your assets and growth strategies can lead to the unnecessary loss of a portion of your retirement income. While you can’t avoid taxes, there are strategies and solutions that can help you retain more of your accrued wealth. This is where the process of tax planning comes into play.

Tax planning is the evaluation and analysis of a financial situation to determine its most tax-efficient structure. Every financial solution or product will have a tax treatment that needs to be addressed. Some may have tax-deferred benefits and see a tax liability only on distribution. Some may be taxed as the asset grows. Some, such as retirement accounts like 401(k)s and IRAs may have contribution limits and incur penalties for early withdrawals.

It’s important to see tax planning as an integral part of your overall financial and retirement planning process. You shouldn’t only be concerned about taxes when you are ready for retirement; effective tax planning examines your strategies every step of the way.

Family Legacy helps you structure your assets for tax-efficiency and helps identify opportunities for further maximization.  Schedule an appointment online or contact us now with your tax planning concerns.