Income Tax Planning in Boise, Idaho

At TrueNorth Wealth, we believe a comprehensive financial plan is not complete without a robust tax strategy. That’s why we work with our clients to review their tax returns each year, offering ongoing advice on various tax savings strategies and ensuring that our clients keep as much of every dollar as possible.

As a wealth management firm, we understand that tax planning is especially valuable for high-income individuals and families as they often pay the highest marginal tax rates. Our recommendations involve a detailed action list and working closely with your CPA or tax preparer to help execute our recommendations.

TrueNorth Wealth is among the top financial firms in Idaho and Utah, with offices in Boise, Logan, Salt Lake City, and St. George. At TrueNorth Wealth, we ensure that our clients have a tax strategy to limit their tax liability each year.

What you can expect from our Income Tax Planning services in Boise and surrounding areas in Idaho.

Our entire tax planning process is designed to aggressively save you as much money as possible within the confines of the U.S. tax code. While we do not prepare and file the return for you, your dedicated CFP® professional will work closely with your tax professional to outline the strategies and recommendations we’ve identified that will save you money each year.

While many financial advisors won’t even review your tax return, we see it as an integral piece of your financial picture. In addition, we consider the tax implications of every recommendation we make, from investments to estate planning and insurance. We view your annual tax bill as an area that requires optimization and a keen eye for money-saving strategies.

Tax Planning Strategies

Here are some of the potential tax savings strategies that your dedicated financial planner will review:

  • Tax-loss harvesting, tax lot accounting, and tax-aware trading.
  • Bunching charitable donations to maximize your deductions.
  • Back-door Roth IRA contributions.
  • Prioritizing pre-tax accounts to lower your marginal tax rate.
  • College savings plans for tax-deferred growth and potential contribution deductions.
  • Coordinating charitable, in-kind contributions.
  • Reviewing your tax return annually and outlining available tax-reduction strategies.
  • Investing in tax-conscious funds, limiting taxable distributions.
  • Utilizing tax-exempt funds when appropriate.
  • Annual tax-free gifting strategies.

These are just some of the levers we can pull to help lower your annual tax bill.

In addition to each of the strategies outlined above, our team of experts is constantly reviewing tax code updates and identifying new tax-saving opportunities. Our goal is to ensure that we help you pay the least amount in taxes possible while working towards your unique financial goals.

Let’s get started.

If you’re interested in working with a dedicated and trusted financial planner to guide you through the tax planning process, then let’s get started. Click below to schedule a complimentary consultation and meet your CFP® professional in our Boise, ID office or via teleconference.

Talk with a tax planner today.