Taxes – the necessary evil that accompanies adulthood. As April 15 looms large on the calendar, many of us scramble to gather receipts, W-2s, and other financial documents in a frenzied attempt to satisfy Uncle Sam and most wonder if they’ve withheld enough to score themselves a refund.
However, there’s a smarter way to approach this annual ritual: tax planning. That is why we’re excited to announce that Francis has expanded our employer-sponsored financial wellness program to include tax planning!
You may be wondering, “exactly what is tax planning.” It is simply the attempt to organize your financial affairs in a way that minimizes your tax liability. It’s not about tax preparation or evading taxes, but rather it’s about making strategic choices that reduce the amount you owe. In essence, it’s about keeping more money in your pocket and less in Uncle Sam’s.
Effective tax planning can help you identify and leverage tax deductions and credits. It allows you to optimize your investment portfolio to minimize the tax bite, and it helps you avoid unwelcome tax surprises by providing a clear roadmap of your financial situation.
Tax planning isn’t just about the present – it’s a crucial component of your long-term financial strategy. Whether you’re saving for retirement, education, or a major life event, understanding the tax implications of your financial decisions is paramount. Strategic planning today can set the stage for a more tax-efficient tomorrow.
Here are some questions that we can help you with:
•How do I get my W-4 tax withholding right?
•Should I save in my workplace retirement plan with pretax dollars or Roth dollars?
•Should I be making Roth conversions in retirement? And much more!
In a world where every penny counts, tax planning emerges as a powerful tool. By taking a proactive approach to your finances, you can keep more of your money, reduce stress during tax season, and work towards your long-term financial goals. So, as the saying goes, the only things certain in life are death and taxes – but with proper planning, at least the latter becomes a bit more manageable.
Did You Know?
Your employer sponsors this financial wellness benefit from Francis LLC. The benefit connects you with down-to-earth financial planners who educate, advise, and coach on any money matter…without the sales pitch. Their financial planners are exclusively engaged by employers like yours to serve as financial planners. They have no investment products to sell, so you can feel confident that you will always receive objective advice.
Your financial planner will help you set priorities and achieve your money goals, without judgment or financial jargon. Know that all discussions are kept strictly confidential. This service is offered as an employee benefit and there are no per session co-pays, so you can meet with a financial planner as often as you wish. Education and financial planning services are paid by your retirement plan or your employer.
Connecting with a financial planner is easy! Here’s how:
•Visit FrancisWay.com
•Call (866) 232-6457
•Download their free mobile app. Search for Francis LLC at Google Play or the Apple Store. The app allows you to select a financial planner, begin messaging them, and even get your financial wellness roadmap using their assessment tool, the MAP.
