A strong plan starts with clear goals and a full view of your financial life. Income, investments, taxes, insurance, and estate plans all work better when they work together. TKG Tax & Accounting helps individuals and families build that kind of coordinated plan so they can move toward the future with calm and confidence.
By working with TKG Tax & Accounting you gain access to our affiliated Registered Investment Advisor, TKG Wealth Advisers, along with our robust network of strategic partners spanning interconnected disciplines. This hand-in-hand relationship allows our CPAs to understand how each decision correlates to your tax return, and ultimately how those decisions impact your bottom line over time. By connecting tax insight with investment and insurance planning under one umbrella, our outcome cannot be beaten.
Planning for each stage of life
Financial planning looks different at each stage of life. Early in a career, you may focus on building a cash reserve, paying down debt, and starting retirement savings. Mid-career planning may center on college funding, business ownership, or a home upgrade. In the years before and after retirement, questions shift toward income stability, health care, and legacy.
We help you:
- Clarify short- and long-term goals for you and your family
- Build and follow a realistic spending and saving plan
- Use tax-advantaged accounts such as IRAs, 401(k)s, and health savings accounts (HSA’s)
- Structure education savings for children and grandchildren
- Evaluate insurance coverage for income protection and risk management
Integrated retirement planning
Taxes do not stop when you retire! In many cases, they become more complex. Coordinating when and how you draw from different accounts can extend the life of your savings and reduce unnecessary tax. We help design withdrawal strategies that weigh tax brackets, Social Security timing, required minimum distributions, and state tax rules.
Our retirement work often includes:
- Reviewing current and projected retirement income sources
- Testing different retirement ages or spending levels
- Designing a sequence for withdrawals from taxable, tax-deferred, and Roth accounts
- Coordinating with your investment adviser on portfolio strategy and risk level
- Modeling the tax impact of key planning moves
- Planning for health care costs and long-term care needs
We revisit these plans with you on a regular schedule and after major life events. The goal is not a fixed document but a living plan that adjusts as laws and life change. Please remember that these life events should serve as a touch point with your planning team! As life gets busy, items get overlooked and conversations fall by the wayside, however, each of the examples below should bring you back to the table for adjustment:
- The birth or adoption of a child
- The passing or disability related to a loved one
- A marriage, divorce, or separation
- A home sale, or new home purchase
- Buy or sell of a business, incorporation of a new partner, or simple restructuring
- A change related to employment or benefits offerings
- Significant salary increases, or inheritance
Although this list is not all inclusive, it should serve as an example that there is always fine tuning to be made and new strategies to be considered as we work toward continued efficiency.
Wealth and legacy planning
Wealth planning reaches beyond one lifetime. Many clients want to support children, grandchildren, charities, or a family business in ways that reflect their values. Working with your estate planning attorney and our in-house team at TKG Wealth Advisers, we help you understand the tax impact of gifts, trusts, and other legacy tools so you can choose the methods that fit both your goals and your comfort level.
A long-term relationship
Financial, retirement, and wealth planning work best as ongoing relationships, not one-time projects. As your life shifts, we stand ready to adjust projections, revisit assumptions, and update strategies. Our aim is simple: We want you to understand your choices, feel in control of your direction, and know that each financial step aligns with the future you have in mind!
If you want a planning team that sees the complete picture and explains it in plain language, our teams at TKG Tax & Accounting and TKG Wealth Advisers are ready to help.
Contact us today.