Don’t Let Tax Law Changes Impact Your Financial Future
With the October 15 tax deadline upon us, Potentia Wealth CEO Kevin Swanson and Potentia Tax’s Rachita Wadhwa, CPA sat down to discuss some practical advice on the benefits of combining wealth planning with tax planning, essentially making the tax discussion a year-round focus.
In this video, Swanson and Wadhwa offer insight on the potential tax law changes approaching and whether immediate action is warranted. They specifically discuss:
- The concern around the proposed tax increases for dividends, long-term capital gains, unrealized capital gains, real estate, business and estate taxes
- Why you may, or may not, want to consider paying taxes now rather than later
- The importance of considering cash flow when creating a tax payment timeline
- The $400,000 income focus
Throughout the video, Swanson and Wadhwa emphasize that working with both a tax planner and financial advisor can bring both short-term and long-term perspectives to your tax and wealth plan – regardless of what happens in Washington.
To watch our other videos in this series, click here to learn why tax planning should be a year-round conversation and click here to learn why you shouldn’t let FOMO control your taxes. As always, please do not hesitate to contact us with any tax or wealth questions.