Tax-Efficient Strategies

It’s said that only two things are certain in life: Death…and Taxes! And while there’s not much you can do to avoid the former, with prudent planning and foresight, you may be able to minimize the latter. However, similar to planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits – but it's usually helpful when this is done professionally, and earlier on during your wealth accumulation cycle.

Our Tax Planning philosophy is not centred on tax avoidance, but rather on helping you structure your finances, so you and your family aren’t overburdened by undue tax liability.

Tax planning


Why Tax Strategies Are Important

Consider this possibility: If you managed to shave off just $250 from your tax bill each year, through prudent Tax Strategies, and let's just say, hypothetically, you invest it at a 5% rate of return annually, there's a chance you could have a tidy sum of over $15,250 waiting for you by the time you retire in 30 years!

Delayed tax strategies is tantamount to leaving potentially saveable dollars, of your hard-earned money, on the tax table for others to benefit from. The longer you defer tax planning, the more money you could end up owing and paying in taxes. That money could potentially have been saved, through a reduced tax bill, and invested where it has the potential for growth.

What We Can Do for You

We help our clients visualize long term tax efficient strategies. There are many tax considerations you may want to make before it's time to meet with your accountant and file your tax returns. Cranberry Wealth is experienced in offering various strategies that are designed to help you preserve your wealth and optimize your income. Our prudent tax strategies may be able to help you avoid investment options that trigger tax liabilities and position your income to optimize tax refunds. 

Here’s what we can do for you through our Tax Strategy service:

  • While the best advice you can get is: Save. Save. Save…as much as you can. The next best advice is: Be careful how you invest those savings. Our Tax Efficient strategies advice will include considerations on whether you should invest with pre-tax dollars, or post-tax income. How you invest, and in what types of vehicles, can make a significant difference to the taxes you pay. We can help you navigate through the various advantages and disadvantages of choosing one strategy over another.

  • When analyzing potential tax impacts tax impact on your income, we’ll also plan for the types of income that you might receive: Dividends, Interest, Annuity payments, Capital Gains, Inheritances, Employer or Government benefits. While all of these are potential income streams in retirement and before, each has different potential tax implications.

  • We will help you foresee impacts to your future net wealth. If left unplanned, your net wealth could be diminished due to likely claw-backs to benefits, and the possibility of erosion to your estate through substantial taxes.

  • We’ll help you mitigate possible tax impacts when it comes to your estate. A good tax plan will help ensure that future generations do not bear the burden of undue taxes due to the legacy you leave them. To help your beneficiaries inherit  tax-optimized assets, you'll need to put appropriate plans in place. Let Cranberry Wealth help you explore your options today! 

Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. 

Contact us today to learn more about tax planning.