Tax Management

Tax Management

Do you know the most important questions you should ask your CPA before you complete another tax return or see another year go by that could be costing you extra tax dollars? Get these questions answered now, so that you can take full advantage while you still have time left in this tax year. Here's just a sampling of the areas to discuss with your accountant and financial professionals;

  • Understanding the benefits of tax-deferred, tax-exempt, and tax-reduction strategies.
  • Not all dividends are taxed at the same rates. Do you know which assets qualify for the lower rate?
  • Are you paying income taxes on accounts that have lost value? The so-called “phantom income” is money that you don’t actually pocket, but the IRS still treats that income you never received as taxable income. Is this happening to you and what can you do about it?
  • How Social Security is taxed and can you lower your taxation?
  • Beginning at age 70 ½, are you expecting to spend all of your required minimum distribution amounts from your retirement accounts? If not, then there may be tax reduction strategies available for consideration. 

If your current tax and financial professionals have not addressed these issues, imagine what you may be missing out on. These questions should be discussed today, as waiting until next year means maybe paying too much tax this year. Don't wait until next spring to find out you could have done something to reduce your taxes now or that a hidden tax problem could be brewing for your heirs.

To help you become proactive with your tax issues today, we offer you our Complimentary Second Opinion Service or email us at appointments@jimsloan.com.

Jim Sloan & Associates and Global Financial Private Capital, LLC do not provide tax or legal advice. You should consult your own tax or legal professional on any such matters. If you don’t have one, we could provide a list of several to interview.

Have Questions for Jim?

If you have uncertainty or concerns about your financial future, we offer you a no-obligation second opinion on your current situation. To request yours today, please complete the form below.

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Copyright 2016. All Rights Reserved. Investment advisory services offered through Global Financial Private Capital, LLC, an SEC Registered Investment Advisor. All written content on this site is for informational purposes only. Opinions expressed herein are solely those of Jim Sloan & Associates and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Insurance and annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Global Financial Private Capital, LLC. Jim Sloan & Associates nor Global Financial Private Capital, LLC offer tax or legal advice. Individuals are advised to consult with their own CPA and/or attorney regarding all tax and legal matters.

Jim Sloan & Associates and Global Financial Private Capital, LLC have no affiliation with the news agencies represented here and the views expressed do not necessarily reflect the views of Global Financial Private Capital, LLC. Jim Sloan & Associates and Global Financial Private Capital, LLC make no representations or warranties about the accuracy, reliability, completeness or timeliness of the content and does not recommend or endorse any specific information contained therein.