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Tax Optimization Strategies

Every experienced climber can provide tips to optimize one’s climbing experience. Guides can recommend the best time of year to climb particular mountains; coaches can offer advice to build a strong psyche; and, trainers can demonstrate how to master the “rest step” and “pressure breath” for oxygen uptake. Similar to climbing advice, tax and wealth management guidance helps prepare you with the knowledge to maximize your assets and minimize your taxes.

Integrating strong technical tax guidance with your wealth management strategies is vital to a successful wealth accumulation and retirement plan so your strategy has the stamina and strength to allow you to ascend and descend the mountain of your income-earning years safely. We offer a variety of tax services to high-net-worth individuals, their families, and related businesses. Our goal is to optimize taxes to help maximize growth, equity, and cash flow. By taking a proactive approach to tax services, we remain current on tax legislation and your personal situation. This enables us to identify key tax planning opportunities to help meet your financial objectives. We provide you with the knowledge and expertise necessary to assist you with compliance and strategic tax planning—recommending the most appropriate and efficient methods unique to your situation.

How we help you get there

Working collaboratively with your Boulay or external tax professional, a Boulay wealth advisor considers the many strategies available to you to help reduce your current and future tax obligations and show you how they may fit into your overall financial plan.

While paying taxes is often unavoidable, we help optimize your tax by offering the following services:

Many people often fall into a lower tax bracket for several years following retirement only to see their bracket jump again once Required Minimum Distributions (RMDs) from their retirement accounts kick in when they turn 70 ½ years old. Your Boulay wealth advisor analyzes how future tax obligations might look to determine if you should take IRA distributions immediately to pay a lower tax rate or if you should wait on RMDs that could potentially be taxed at a higher rate.
When we implement a portfolio, we consider the most tax advantageous asset location for your particular situation between taxable, tax-deferred and tax-favored accounts.
Representation and assistance during examination of income tax returns by tax authorities, including the assembly of documentation and other information in support of income tax returns.
Utilizing our financial management software, we analyze the effects of converting pre-tax IRA dollars into a ROTH IRA by comparing the tax obligations at the time and how they will potentially look in the future.
Your Boulay wealth advisor analyzes your options for deferring or recognizing income, whether it is in a 401(k), deferred comp plan or health savings account, and makes specific recommendations based on your particular needs and goals.
The timing of when a particular investment is sold, whether it’s a legacy stock holding or a short-term mutual fund investment, may have an effect on the amount of taxes payable. We help you determine how to reduce the overall tax consequences, while taking into account your goals and the risks involved.
Whether it’s how accounts are titled or your situation requires a complex estate plan, we work in conjunction with your estate planning attorney to ensure our recommendations integrate well with your estate plan to minimize your overall tax burden.
Tax efficiency, simplicity and flexibility make naming a charitable organization a great starting point for those interested in leaving a charitable legacy. Boulay offers practical strategies and services designed to help you effectively implement your charitable giving plan that meets your legacy goals and provides tax benefits for you and your heirs.
We also offer many other immediate and long-term tax strategies to maximize wealth:
  • Tax Diversification
  • Employee Benefit Maximization
  • Executive Benefit Planning
  • Income Deferral
  • Deductible Expense Acceleration
  • Trust Coordination
  • Distribution Planning
  • Social Security Planning

When climbing a mountain, you need the right gear and a knowledgeable guide to ascend to greater elevation with ease so you can concentrate on your body’s physical and mental progress. We provide a similar experience that allows you to focus on other important matters in your life, while knowing your financial plan is in good hands. Our top priorities are you and your financial well-being. With strong technical skills and an exceptional commitment to client service, our tax team offers a client experience where your voice is heard, your needs are understood, and all tax work is completed in a precise, timely, and cost-effective manner.

Our wealth advisors collaborate with Boulay’s CPAs to meet your needs, allowing you to benefit from our ability to integrate income and estate tax saving strategies into traditional wealth management services. We offer sound advice to help you eliminate setbacks, reduce your tax liability, and achieve your short- and long-term financial goals.

Get a Review of your Tax Strategy
In order to maximize your assets and minimize your taxes, you need a team of experts who can proactively apply your income, trust and tax situation to your overall wealth plan and identify effective strategies based on your opportunities. Boulay helps you get there with a comprehensive plan designed to satisfy your individual needs and objectives. Contact us today!

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