Let’s Manage Your Tax Bill

Here’s something you never hear:  “I love paying taxes!”  They’re an awful chore to do every year, and if you pay a professional to get them done, that simply adds to the costs.  Very few people even like to think about them.  Still, income taxes are a necessary evil, and we’re stuck with them.

That’s why it’s extremely important to give your tax situation some thought during the actual tax year, rather than waiting until the year is over.  That way, you may be able to manage your tax bill so that it’s either lower right now, or potentially over your entire life — or both.

The middle of the year may be the perfect time to evaluate where your tax situation stands, because doing so could potentially save you a lot of money at filing time next year.  In this week’s edition of Lucia Capital Group Weekly, tour “Professor” Rick Plum gives you a few ways you can manage your tax bill right now, with the goal of avoiding the pain and misery of writing a big check to Uncle Sam later on.

Important Information:

The information provided should not be considered specific tax, legal, or investment advice and is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on
his or her individual circumstances. This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed.

You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

No client or prospective client should assume that the presentation (or any component thereof) serves as the receipt of, or a substitute for, personalized advice from Lucia Capital Group or from any other investment professional.

The information provided is based on current laws, which are subject to change at any time. Lucia Capital Group is not affiliated with or endorsed by the Social Security Administration or any government agency.

Social Security rules can be complex. For more information about Social Security benefits, visit the SSA website at www.ssa.gov, or call (800) 772-1213 to speak with an SSA representative.

IRA withdrawals will be taxed at ordinary income rates. Withdrawals prior to age 59½ may also be subject to a 10% penalty tax.

Rick Plum is a registered representative of, and offers securities through, Lucia Securities, LLC (“LSL”), a registered broker/dealer, member FINRA/SIPC. Advisory services offered through Lucia Capital Group, a registered investment advisor, and holding company for its affiliated broker/dealer LSL. Registration with the SEC does not imply a certain level of skill or training.

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