Financial success is not determined by how much you make but by how much you keep after taxes. So we provide more than just investments – we offer tax strategy planning, retirement assistance, estate management, and other services to help our clients optimize their finances for long-term success and peace of mind.

Tax planning and optimization
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Harness The Power of An Integrated Tax & Financial Planning Process

Taxes are a big part of our financial planning process. Everyone’s taxes are different because the tax code is complex. Talking to a tax advisor is essential to get the best advice for your situation. However, there are some general things to be aware of, especially when considering retirement plans.

The financial advisors at Bogart Wealth have seen many different tax situations. As a result, they have developed strategies to help minimize exposure to taxes and penalties while taking advantage of opportunities in the tax code. In addition, our financial advisors will often meet with our client’s tax professionals to ensure their financial planning is as effective as possible.

Unlock the Benefits of Comprehensive Tax Advice

We often have to decide how to use our money from a tax perspective best. It is crucial to think about how different investments will be taxed.

For example, cash, bonds, and stocks you sell after owning them for less than a year are taxed at the same rate as your regular income. But if you own gold or collectibles, the tax rate is 28%. Stocks you have owned for longer than a year are taxed at a lower rate. International stocks may come with a foreign tax credit, potentially making them worth holding on to. Or, you could sell them and write off any losses.

In other words, taxes are essential to consider when making any investment decision.

Secure your financial future with Tax Planning & Your Retirement Plan

Many of our clients have company stock in a 401(k). The company they work for has given them some of their stocks. With this, numerous options are available, such as taking an “in-kind distribution,” which allows you to pay a lower capital gains rate. You could roll this stock directly into an IRA or sell it. Each option will have tax implications that must be considered as part of the larger plan.

Another major factor that has tax implications is your age and timing. If you retire before age 55, withdrawing funds from your 401(k) comes with a heavy penalty. Likewise, there are penalties for withdrawing from an IRA before age 59 1/2. Many sophisticated tax strategies are effective at optimizing value and minimizing risk but often include some age restrictions. When you should start claiming your social security benefits can be complicated, based partly on timing, age, and other factors such as how long you expect to live.

You can rest assured knowing that Bogart Wealth can help coordinate expert tax preparation with optimization and planning strategy as part of your overall, comprehensive financial plan. 

Maximize your wealth, and gain financial freedom with Bogart Wealth.

Important Disclosure: The Tax Team is a team of accountants and tax professionals associated with the accounting firm of Troy O’Callaghan CPA. Employees of Troy O’Callaghan CPA render accounting and tax services for Bogart Wealth pursuant to a written agreement. Troy O’Callaghan CPA and Bogart Wealth are not affiliated in any other way and are not under common control. Bogart Wealth reserves the right to change its Tax Team at any time and without notice. No client of Bogart Wealth is required to use Troy O’Callaghan CPA for accounting or tax services, but if Bogart Wealth provides you with or agrees to provide you with accounting or tax services, you will receive services from Troy O’Callaghan CPA. For more information, please visit https://www.troyocallaghancpa.com/

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