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Kevin Swanson Discusses Year-End Tax Moves with U.S. News & World Report

By Potentia Wealth


With 2022 and potential tax changes approaching quickly, U.S. News & World Report spoke with Potentia Wealth CEO, Private Wealth Advisor & LPL Registered Principal Kevin Swanson for insight on tax moves investors may want to consider before the year ends.

According to Swanson, this time of year is a great time for investors to take a long-term, holistic approach to taxes instead of making only the typical year-end tax moves. He specifically works together with a client’s tax planner to examine both their short-term and long-term plans.

“A tax preparer will look at how we reduce your taxes today,” Swanson explains. “As a financial planner, what we’re looking at is potentially eight to 10 years or more into the future. And that conversation together allows us to have discussions about what the time horizon is, when we’ll be using money, what types of gains we’ll have in the future, and whether we should be harvesting losses this year or not.”

In addition to taking a holistic approach, investors should also consider looking at estate tax exclusions. If investors are going to live more than 10 years, “we’re not going to rush into an irrevocable trust that’s going to lock them into something today when they may have a better opportunity in the future,” Swanson tells the publication. “If we think we’re getting close to that 10-year period, then we can start to look at what type of estate tax planning we can do to help reduce the tax impact for their beneficiaries in the future.”

Click here to read the entire U.S. News & World Report article.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

Potentia, Potentia Wealth and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation.

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