Tax planning and financial planning are closely related because of the significant impact that taxes have upon your finances. Any investment that is made more attractive by either the timing of the profit or the way it is taxed can be a significant benefit and strategy.

Tax incentive investments are based on specific provisions. The tax law provisions enacted by Congress encourage investment capital to flow directly into the basic areas of our economy such as housing, petroleum, manufacturing and agriculture. In one sense, "tax incentive" means investing in vital industries in a way that permits you, rather than the companies you invest with, to keep the tax benefits, while retaining your opportunities for significant profits.

Within our portfolios, we may utilize unit investment trusts, exchange traded funds, index-linked mutual funds, and other types of "tax efficient" investments. Further, we may utilize tax-free municipal bond funds which are free from state and federal taxation.

The most common concern for managing assets is knowledge of cost basis information, especially of assets that were brought over from another institution. In order to manage your account effectively with regards to tax management, the potential liability must be known. We ask for and input this information into our system. In this way your reports are updated with accurate information.

Working with an experienced, qualified CPA will increase the possibilities of dealing effectively with your taxable liability. Tax services are provided through the accounting firm of Gillespie Financial Services.