Goheen Insurance: Securing Legacies with Expertise and Integrity.
January 11, 2022
Wealth Management
Tax efficient investing involves strategies to help reduce the impact of taxes. Investments have three tax flavors: taxable, tax-deferred and tax-exempt.
Tax efficient investing involves strategies to help reduce the impact of taxes. Investments have three tax flavors: taxable, tax-deferred and tax-exempt.
Types of Investments
Taxable investments requires gains to be paid as they are earned each year. These include investments like CDs and money market funds. Tax-deferred gains remain sheltered from taxes until withdrawn for retirement at age 59½ like 401(k)s or IRAs. Tax-exempt gains are not taxable either by federal or state taxes. To determine the tax effect of your investments, you must know which tax bracket you’re in and if capital gains rules apply.
The highest investment income minus the lowest taxes due is your investment goal. So focus on placing fully taxable investments in tax-deferred accounts. Don’t make the common mistake of putting investments that have tax benefits into an IRA. You will lose those tax benefits since all distributions from traditional IRAs are 100% taxable.
Let us help you make tax efficient investments in your portfolio.
Post Tags :
Life Insurance, Premium Finance, The Simplicity Company, Tips, Wealth Management
SHAWN GOHEEN
Meet Shawn Goheen, the heart and soul behind Goheen Insurance. Since the early ’90s, Shawn has been more than just a financial advisor; he has been a trusted confidant to high-net-worth individuals. His journey has led him to build strong connections with over 15 specialty lenders and insurance carriers, and relationships with 20+ banks, giving him a rare edge in navigating the often-complex financial world with ease and transparency.
We would love to speak with you personally about any of our services. Contact us today for a free consultation or to learn more!
Still have questions?
We would love to speak with you personally about any of our services. Contact us today for a free consultation or to learn more!
Complete the form above, and a Goheen representative will be in touch within 24 hours with next steps.
At Goheen Insurance, we’re more than just a provider of high-net-worth insurance solutions; we are your partner in securing a financial legacy.
Main
Contact Us
Let’s Figure Next Steps.
© Copyright Goheen Insurance 2024. All Rights Reserved.
