Tax Consulting

Comprehensive Tax Planning for Affluent and Ultra-High Net Worth Clients

Navigating the complexities of tax planning, reporting, and filing can be daunting, especially for those with substantial wealth. Too often, tax return preparation follows a reactive approach, where documents are merely compiled and filed without proactive guidance throughout the year. This can leave clients uncertain about potential missed opportunities and overlooked tax-saving strategies.

Proactive Tax Planning with Momentum Wealth Advisors

At Momentum Wealth Management, we transcend the traditional reactive approach, offering a proactive and sophisticated tax planning process tailored to affluent and ultra-high net worth clients. Our goal is to ensure you retain as much of your hard-earned wealth as possible through strategic tax planning.

An Integrated Approach to Taxes

You've invested significant effort in building your wealth, and it's imperative to adopt a financial plan that integrates robust tax planning for optimal strategy. Momentum Wealth applies a comprehensive wealth management perspective to maximize the tax efficiency of your investments, ensuring you keep more of what you earn.

Momentum’s Tax Consulting Process

Our tax consulting process is a refined approach that merges tax planning, tax-aware investing, and tax preparation. Designed to minimize your tax liability, our services provide the strategic alignment between financial advisors and CPAs that is seldom seen elsewhere. This alignment is at the heart of Momentum Wealth Management's dedication to your financial well-being.

Tax Planning Services We Offer

Tax Loss Harvesting Strategy: For clients with taxable investment accounts, we strategically sell underperforming assets to mitigate large capital gains taxes.

Tax Bracket Management: By offsetting certain income through retirement plan contributions or deferring asset sales, we help prevent higher tax percentages.

Charitable Planning: Evaluating when to forego the standard deduction to write off expenses like mortgage interest, state and local taxes, medical expenses, and charitable donations.

Business Tax Planning: Advising on business structuring, deduction utilization, and employee 401(k) contributions to optimize your tax burden.

How Taxes Impact Your Financial Plan

Effective tax management can significantly enhance your net worth over time. Our comprehensive tax planning encompasses:

  • Assessing current net worth
  • Balancing income and expenditures
  • Developing a debt management plan
  • Setting wealth accumulation goals
  • Creating a retirement plan
  • Evaluating risk appetite and tolerance
  • Formulating investment strategies
  • Establishing emergency savings requirements
  • Providing insurance coverage
  • Crafting estate and business planning strategies

Big-Picture Tax Strategies

As life events such as marriage, divorce, real estate transactions, or caregiving needs arise, our financial advisors assist in adjusting your tax strategy. We're committed to building long-term trust, ensuring you are always on course to achieve your broader financial goals.

Benefits of Working with a Financial Advisor on Tax Planning

By consulting with a financial advisor, you gain a holistic assessment of your financial health and tax situation. Beyond tax filing, we offer:

  • Comprehensive advice on debt payoff, budgeting, retirement, and wealth accumulation
  • Investment management with tax-loss harvesting and a tax-efficient withdrawal strategy
  • Business and personal tax liability reduction strategies
  • Estate planning guidance to meet legacy goals and ensure your wishes are fulfilled
  • Insights on how capital gains, losses, expenses, and inflation impact your financial plan

Momentum Wealth Management does not provide legal analysis or advice. Please consult an attorney for legal matters. Referred attorneys are independent and not affiliated with Momentum Wealth Management.

With our proactive and integrated tax planning approach, Momentum Wealth Management ensures you are well-prepared to navigate the complexities of tax planning, allowing you to focus on what truly matters—building and preserving your legacy.

Any reference to Tax or Legal:

The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

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‍Insurance:

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

191 Waukegan Road, Ste 350
Northfield, IL 60093

We take a comprehensive, long-term approach to wealth management that helps our clients meet their immediate needs. We create bespoke, lasting solutions for all of life’s financial milestones.

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