We mitigate taxes for our clients. We don’t want our clients paying a dollar more in taxes than what is required. This is one of the ways we provide value in the financial planning process. We always strive to find the most tax-effective strategies to put more money in our clients’ pockets.

Asset Location Planning

Asset location involves properly allocating your money to a tax-efficient account. Different types of accounts have different requirements as well as different tax treatment on gains, contributions, and distributions.

Asset Allocation

Based on your income, we may choose different investment strategies to manage investment income.

Lowering Your Tax Bill in Retirement

When you withdraw money for retirement, understanding your cash flow needs and where to withdraw from is paramount in managing your tax liability.

Income Tax Mitigation and Structure

Depending on your profession and employee benefits, there are multiple ways to reduce your income tax liability.

Estate Tax Planning

The newer Federal Estate exemption has lowered the tax liability of most estates, but state estate tax and avoiding probate are two concepts that are often overlooked in the estate tax planning process.

Philanthropic Tax Planning

Some of our clients are philanthropically driven and we guide them on how to help them donate to their charities and maximize the tax benefits of gifting.

Tax Preparation

Because of our tax savvy financial planning focus, and because we excel at being a one-stop shop for financial matters, we’ve chosen to add tax preparation for our client services. Learn more at tax preparation firm Tax Brothers.

As experienced financial consultants serving Ann Arbor, Chicago, and beyond, we’re prepared to help with your tax needs and save you money. Turn to Costello Financial Planning for sound financial advice and assistance with tax-savvy financial planning.