Were Your Taxes a Costly Surprise This Year?
There’s been a lot of confusion this year, as we all file for the first time under the New Trump Tax Law. Some people are finding that their returns are lower, or that deductions they’ve always depended on have gone away. The biggest cause that we see for a lower return is a lack of tax strategy and planning in advance – most strategies have to be in place by the end of the tax year – not at filing time.
There are estate planning implications as well – for example, if you’re considering a ROTH conversion, which can be a great strategy, there used to be q “do-over” period you had in case something happened after the fact, or if you changed your mind. However, that’s no longer the case.
There are two parts to this; 1) being proactive, and 2) investing for tax efficiency, because taxes have the ability to take the largest bite out of your portfolio and your returns, and, it’s important to remember that it’s not what you make – it’s what you keep.
That means working with a team to build a portfolio that takes advantage of taxable, tax-deferred, and tax-exempt accounts, understanding your tax bracket under the new law, and choosing investments that are tax-efficient, and, as much as possible, preparing you for the volatility and uncertainty that have been rampant in the markets.
While coordinating financial plans properly is always challenging, it is especially challenging today given with infighting across a divided Congress and under the Trump Administration. That’s why we’ll be hosting a complimentary panel discussion and dinner at Lockkeepers’ in Valley View on May 14th and 16th for those with a portfolio of $500,000 or more, but seating is limited.
During our time together, we’ll focus on helping you to avoid common mistakes such as Underestimating the Impact on Your Portfolio of the Economic Uncertainty Created by Trump’s Divided Policies, Neglecting to Help Safeguard Your Portfolio from a Possible Recession, and Not Taking Advantage of Comprehensive Tax Strategies.
Seating is limited, so if you are interested, please RSVP here.
Terms and Conditions | Privacy Policy | Disclosures
Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
Crain's Cleveland Business is a print and online newspaper delivering local business news and information to Cleveland's business executives, which is published by Crain Communications Inc. The Crain's 2024 list may employ different methodology than described above for similar designations granted in other years. No clients were consulted and no fees were paid to determine the winners; the award is based on assets under management. Neither the participating candidates nor their employees pay a fee in exchange for inclusion on Crain's 2024 List. However, recipients may pay a fee to Crain, an affiliate, or an unaffiliated third party in exchange for plaques or article reprints commemorating the designation. The publication should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results if the recipient is engaged, or continues to be engaged, to provide investment advisory services; and should not be construed as a current or past endorsement of the recipient by any of its clients. Lineweaver Wealth Advisors was ranked in the Top 25 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2024. In 2023, Lineweaver Wealth Advisors was ranked in the Top 15 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2023. In 2021 and 2022, Lineweaver Wealth Advisors was ranked in the Top 20 of Crain’s of Cleveland’s annual list of Registered Investment Advisors. The award is based on assets under management in the years 2021 and 2022 respectively.
Nominees in the Top 100 Magazine selections are not required to pay a fee for consideration. Individuals appearing in half and full page editorials, have paid a fee for additional exposure. Candidates for consideration are selected utilizing proprietary software. Top 100 Magazine analyzes the results before making their final selections. Financial Professionals and/or wealth managers must also met the following criteria; 1. Be registered with the SEC as a registered investment advisor or a registered investment advisor representative; 2. Have no more than 1 filed complaint with a regulatory agency; 3.Never been convicted of a felony. Third-party rankings and recognitions are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance or results. These ratings should not be construed as an endorsement of the Financial Professional by any client nor are they representative of any one client's evaluation. Participants for the Top 100 in Finance appearance were reviewed in 2022, and recognized in March of 2023. Lineweaver Financial Group appeared in Money magazine in 2015, Fortune Magazine in 2016, WTAM 1100 in 2018, Forbes in 2020, Channel 5 in 2020, and Top 100 in Finance in 2023.
Lineweaver Financial Group ©
Powered by 
Virteom