You must look to two sources in
accumulating your estate: the income you earn and the income your property
produces. To retain this income and allow it to accumulate, you must
navigate several hazards, which can cause unnecessary shrinkage and result
in falling short of your financial objectives. These include taxation,
inflation, investment risk, disability, and death. None of these hazards
can be completely controlled or avoided, but their effect can be minimized
with proper planning.
Of all these hazards, taxation is
the most controllable. All of your income must pass through a filter of
taxation, where it can be reduced by not only federal income tax, but by
state and social security tax as well. It is only the balance of your
income, after all these taxes have been paid in cash, that reaches the
people you are most interested in – you and your family.
With taxes and inflation working against
you, there are only two ways we can effectively squeeze out more
discretionary dollars for savings and investment. One way is to cut back on
your current life style, which we are sure you do not wish to do. Another
way is to minimize the taxes you pay and increase your investment return.
In order to reduce your income
taxes, we analyze your current planning and suggest more ways to employ tax
saving strategies.
Whether you attain your financial
objectives may depend on how well you utilize these strategies.
