There may be opportunities for you as we move into end of year to minimize your taxes or set things up to maximize your net of tax returns – both important contributors to achieving your long-term financial planning goals.  Please give me a call to discuss any of the items below that may be relevant to your situation.  The best time to do this is before 12/1/17.  This will give us time to coordinate with your tax professional and to take steps as appropriate.

  • Does your tax professional know your year-to-date realized gains and losses and projected income from all sources?
  • Is there a need to realize additional capital gains or losses?
  • Do you have ISOs (Incentive Stock Options)? Do you plan on exercising or a taking a disqualifying disposition?
  • Do you need to take your IRA Required Minimum Distribution (RMD) and has the appropriate amount of taxes been paid throughout the year factoring in the RMD amount?
  • Would it be beneficial for you to take a distribution from your IRA (even if not required to do so) or convert an amount to a Roth IRA?
  • Should a Charitable Rollover Distribution (Qualified Charitable Distribution) be part of your plan?  This may be appropriate if taking RMDs from your IRAs and you have charitable goals.
  • Are you interested in donating low basis stock to charity or to a Donor Advised Fund?

Helping you take steps to maximize your wealth is why I’m here, so please do give me a call if I can help.  Feel free to forward this, as well, to anyone you care about who might need someone to help them work through these year-end planning considerations.

With best wishes as we go into the final months of the year,

Joe Martin
Partner