- Having a banner income year is great, but it is vital to engage in tax planning before year-end. Many taxpayers do not receive proper tax planning guidance and waiting until you prepare to file your taxes the following year is usually too late to reduce your tax liability.
- Not taking full advantage of the special tax deduction rules for vehicles.
- Not taking advantage of the many tax benefits afforded to small business owners, especially if they have multiple sources of income or even a working spouse.
- Not having the correct type of entity for your business. The correct ownership structure can reduce your annual tax liabilities significantly. You do not have to suffer the lost ability to deduct more than $10k in State and Local taxes.
- Not defining your career, financial and personal goals. You may feel rudderless without a plan.
- Lacking a coordinated wealth management team to address all aspects of your financial future.
- Not properly planning in advance of major life events, the good and the bad.
- Having too much exposure to a single market. For example, real estate professionals rarely consider that if their earned income and their investments are tied to the individual’s local real estate market, any downward move may be exponentially more painful.
- Not designing a retirement portfolio to withstand an economic downturn.
- Not fully understanding the risks associated with their investments.
If your advisor isn’t addressing these topics with you… it may be a good time to start speaking with a different advisor.
You don’t know what you don’t know about your financial future.
At Navis we don’t hide behind picturesque commercials of beach scenes promising calm waters ahead or parade simplistic visual metaphors promoting the same guaranteed outcome for everyone.
Rather we want to learn about your financial fears, the worries that keep you up at night so we can ask difficult questions and provide you with meaningful solutions that are specific to YOU. In aggregate, we pride ourselves on defining a clear path that is both measurable and achievable. From tax planning/ preparation, to personalized investment management, to advanced estate/trust planning, we are a fully integrated, comprehensive wealth management firm.
We won’t needlessly engage or promote ourselves unless our clients are motivated/opened to be educated on what they don’t know, so that they can make much more informed decisions.
We acknowledge that we must have a symbiotic relationship because we know that we can add significant value and peace of mind for our clients.