Tax Planning Strategies
While there are many different tax management strategies to consider – such as tax loss harvesting, charitable giving, exemptions, and deductions – the ideal place to start is determining the changes that will be best for your overall portfolio. With your overall portfolio strategy and long-term objectives in full context, there are several tactics you can use to seek to help reduce tax liabilities.
Our team will also provide you with an independent investment perspective on various tax and estate strategies you may be considering and refer you to qualified tax specialists. We also suggest talking to your tax advisor.
Wells Fargo Advisors is not a legal or tax advisor. However, we will be glad to work with you, your accountant, tax advisor and or lawyer to help you meet your financial goals.
By using Wells Fargo Advisors’ Envision® Planning Process, we can help you plan your portfolio around your real-life goals, dreams, and needs. We’ll then put the process’ tools and technology to work to track your performance and help you make adjustments whenever necessary.
We provide analysis to enable you to determine approximate costs and identify the best tax-advantaged funding solution, whether a 529 Plan, an Education IRA (also known as Coverdell), a Custodial Account, or another method.
Please consider the investment objectives, risks, charges and expenses carefully before investing in a 529 savings plan. The official statement, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest.
Qualified Coverdell Education Savings Account distributions are not subject to state and local taxation in most states.