Proactive Tax Planning for Smarter Savings
Our Boston financial advisors help you go beyond tax prep to build a year-round strategy that minimizes your tax bill.
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Tax Prep vs. Tax Planning: What's the Difference?
Tax Preparation (Looking Back)
Reporting what has already happened to the IRS. It's about accurately documenting your past financial activities.
Tax Planning (Looking Forward)
Making strategic decisions *today* to positively impact your tax bill *tomorrow*. We help you make tax-efficient moves all year long, not just at tax season.
Key Tax-Saving Strategies We Explore
Retirement Account Optimization
Maximizing contributions to 401(k)s, IRAs, and HSAs to reduce taxable income.
Investment Location Strategy
Strategically placing assets in the most tax-efficient accounts (taxable vs. tax-advantaged).
Tax-Loss Harvesting
Offsetting capital gains and reducing taxable income with investment losses.
Charitable Giving Strategies
Implementing strategies like Donor-Advised Funds to maximize philanthropic impact and tax benefits.
Managing Stock Compensation
Expert guidance on planning for RSUs, ISOs, and NSOs to minimize tax implications.
MA-Specific Credits & Deductions
Leveraging local Massachusetts tax laws and opportunities specifically for Boston residents.
How We Saved a Tech Executive in Boston $12,000 in Taxes
A client, a tech executive in Boston, faced a substantial tax bill due to recently vested Restricted Stock Units (RSUs). We understood the intricate challenges of high-income employees with significant equity compensation.
- Challenge: Facing a large tax bill from vested RSU stock awards.
- Solution: Developed a strategic plan to sell a portion of stock immediately for tax coverage, donated appreciated shares to charity, and performed tax-loss harvesting in their brokerage account.
- Result: Minimized the tax impact of the RSUs and generated significant deductions, resulting in a documented $12,000 in tax savings.
Note: While we provide comprehensive tax *planning* insights, we are not CPAs and do not file taxes. We partner closely with your existing tax preparer to ensure seamless implementation of our strategies.
