At least annually I recommend taking a close look at your finances and the related effects on your Net Worth. A great place to start is a tax return completed & an annual dossier on your real estate property holdings. That’s part of the packet we proved to open up further useful thoughts and discussion.
Let me know if you need an organizer binder’ NOTEBOOK’. It compliments the YourSpace24/7 client portal, both are handy tools to help you get organized for you visits to your various financial professionals.
To set an Annual Financial Review appointment, or no-cost consultation, use our quick ‘time & day’ online sign in.
Always bring your PROPERTY TAX ASSESSMENT to your REVIEW. You may qualify for a complete abatement, or a reduction in taxes. We can assist you in the process. Here’s a couple tools for the DIYers:
Here’s some tax planning reading for the scholarly:
What now? Well the key word is ‘now’. Tax advice/ planning is of more value ‘forward looking’ than ‘after the fact’. Even more so just before, or worse, after deadlines. There are many strategies available going forward. But they virtually all require pre-planning. This is the difference between basically doing clerical work or utilizing various planning approaches.
Now, more than ever, we are in an era of ‘portfolio real estate’ approach – looking at the larger picture, considering ‘all the pieces’ to the tax/ net-worth puzzle. Update Your VISION. Its part of our ‘client intake’ format. This is where we start in on you’re long term thoughts, dreams, needs, goals, and comfort parameters.
- See links above.
Year-end tip: Statistically holiday season is by far best time to purchase your vacation, investment (hands off managed ‘passive’ or active), retired parental rental, student rental, & flips of any kind be it ‘wholesaling’ or hands-on. Deductions in these areas now became game changers vs the old – mostly gone – ‘itemized deductions’.
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