Tax Planning

Tax planning involves arranging your affairs with the expectation of minimizing the overall taxes you pay, both present and future. Tax planning goals must blend with other goals from your financial plan, such as saving for retirement, maximizing wealth, saving for college, and planning for your estate.


Tax planning requires an understanding of current tax laws, including tax brackets, phase-outs for deductions and credits, income thresholds that may trigger additional taxes, and more. Tax law changes, the political environment, and unpredictable future events create an inherent degree of uncertainty when planning.


Please note, Longview does not prepare your tax returns. Rather, we work with you and your tax preparer each year to ensure accurate, timely-filed returns. We are not accountants and do not offer tax advice but work with you and your accountant to discuss tax strategies.


The tax planning process begins with a review of prior year tax returns to identify current tax strategies. This allows your financial planner to further familiarize themselves with your income, deductions and credits, and tax liabilities. Your situation may warrant an annual tax analysis and projection to compare various strategies. After evaluating your tax situation, we may discuss strategies that include, but are not limited to, the following:

  • Minimizing or deferring income
  • Expediting or delaying expenses
  • Harvesting investment losses or delaying recognition of investment gains
  • Accelerating deductions or credits
  • Conversion of pre-tax retirement savings to an after-tax savings vehicle (e.g. Roth IRA)
  • Social Security filing strategies
  • Education saving strategies
  • Estate planning strategies
  • Gift planning strategies
  • Business succession strategies


A strategy or strategies may be for the current or following tax year, while some strategies are focused on long-term outcomes.

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