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Tax Reduction Strategies

Financial Guidance

There are three basic principles to reducing your tax bill: 

  • Reduce taxable income
  • Increase deductions
  • Take advantage of tax credits

While we are not tax advisors, Williford Financial can help you achieve these principles in several ways. Here are a few examples:

For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.

Retirement Plan Contributions
Money contributed to your retirement accounts are not considered taxable income.

Put the right assets in the right accounts.
Use an asset location strategy to manage your tax liability by placing high-income generating assets into accounts with tax advantages and assets that generate smaller tax bills in taxable accounts.

Buy and hold.
This is a passive investment strategy where stocks are purchased and held onto for an extended period of time, regardless of market fluctuations because the taxation rate for long-term investments can be lower than short-term investments.

Donate and repurchase.
Charitable giving has intrinsic rewards, and tax benefits now and in the future. You can maximize your charitable giving deduction by donating appreciated securities instead of cash.

Getting started is simple. Schedule a conversation with our professional advisors.

Thank you!