Permanent Value

Have A (Less) Taxing Time of Year

Bruce Doole
February 2nd, 2010


For the rest of us it’s time to gather our tax information and hope we took enough deductions and withholdings to get a refund (or at worst write a very small check) from the IRS.   We become very aware of how effective our tax planning was at this time and frequently make a resolution to do better at it next year.  It’s our job here at Permanent Value to take the guess work out of tax time and help make effective tax planning a part of your financial routine.  We want you to be confident you did everything possible to minimize your tax bill.   We engage top tax experts to scrutinize your financial situation and give you the best tax advice when it makes sense for you, well before the end of the year.  This is what full-service comprehensive financial planning is all about.

You should also be confident your investment expert is being tax efficient with your portfolio, taking losses where appropriate to offset gains and income taxes and making sure retirement accounts are fully funded and deducted.  It’s amazing how many mistakes we see with new clients who have forgotten significant tax issues that could have saved them thousands of dollars.  Something as simple replacing one investment for something similar but better could save thousands of dollars.  That is why we feel it is so crucial to have planning meetings well in advance of the end of the year to identify potential tax savings and implement changes that could decrease the taxes you are paying year after year.  By having an open dialogue between your financial planner and your tax preparer, you keep your team on track and working for you to save you money and ultimately reach your goals.


Not necessarily.  This is the time of year we normally assess what happened last year and set out plans for the year ahead.  In order to make sure your financial house is always in order we strongly advocate a two meeting and oftentimes three meeting cycle for the year to fully implement all aspects of your comprehensive financial plan.   It takes a financial quarterback with the right qualifications (i.e. a Certified Financial Planner) and experience to navigate through the rough waters of the economy and your finances and sail into calm waters and stay there.  Expect a call from our office this quarter to set up your next review, so we can go over your comprehensive financial plan and start preparing for your 2010 taxes.