Tax and Insurance Planning

Tax and Insurance strategies involve various approaches and techniques to help individuals and families minimize their tax liabilities and optimize their financial situation.

Tax Planning

Everyone’s financial situation is unique, and what works for one individual may not be suitable for another. Tax laws can also be complex, so it’s crucial to seek advice from a qualified tax professional or financial advisor who can tailor these strategies to your specific needs and goals.

Tax Loss Harvesting

Tax loss harvesting is an active portfolio management tool that Virtue Asset Management utilizes to potentially lower current and future taxes. Click here to learn more.

Tax Optimization

Proper tax optimization has the potential for large tax savings during the life of the client and at death. These savings could be achieved by optimizing investments in taxable and tax deferred accounts. Click here to learn more

Tax-Efficient Withdrawal Strategies

In retirement, how you withdraw funds from different accounts can impact your tax liability. By carefully planning withdrawals from taxable, tax-deferred, and tax-free accounts, you can potentially optimize your tax situation in retirement. Most investment gains are taxed. In analyzing investment performance it is the after-tax investment return that really matters.

Cash Flow Tax Projections

At Virtue Asset Management we have the ability to prepare detailed cash flow and tax projections. By knowing their expected income, clients can make strategic decisions to minimize tax liabilities, such as optimizing retirement contributions, timing charitable contributions or timing the realization of capital gains.

Insurance Plannning

Insurance can play a crucial role in managing risk, preserving wealth, and providing financial security for individuals and their families. 

Life Insurance

Life insurance is a fundamental tool in estate planning. It provides a death benefit to beneficiaries upon the policyholder’s passing. Depending on the type of policy (term life or permanent life insurance), it can also accumulate cash value over time. Life insurance can be used to replace lost income, pay off debts, cover estate taxes, and ensure the financial security of dependents.

Key Person Insurance

In the context of business owners and executives, key person insurance provides coverage for the loss of a critical employee or business partner. It can help a business survive financially by providing funds to cover recruitment costs, training, or potential revenue losses.

Estate Planning and Wealth Transfer

Life insurance can be used strategically in estate planning to provide liquidity for estate taxes and other expenses, ensuring that heirs receive the intended inheritance without the need to sell valuable assets.

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