Our Services
Tax Consulting & Preparation |
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| TAX CONSULTING & PREPARATION: By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that can reduce both your current and future tax liabilities. The firm provides our individual and business clients with the taxation expertise and knowledge that they deserve year round. Tax services offered include but are not limited to: Individuals, Estates, Trusts and Gifts. Tax planning is an essential element of the tax preparation process. INVESTMENT PLANNING: At Wolfe Financial Group it is our mission to manage money in a way that helps our clients to reach their financial goals. We make portfolio recommendations, which are based on the objectives, needs, and risk tolerance of each client. We do not have any proprietary products or have any ties to any specific investment sponsor. Day trading is not in our vocabulary. We believe in long-term investing and primarily recommend mutual funds or other long-term investment vehicles to attain specific goals. We are frequently in face-to-face meetings or on conference calls with the portfolio managers we recommend to manage our clients’ funds. RETIREMENT PLANNING: A thorough analysis of current resources and future savings allows us to help our clients determine when they can retire at a comfortable lifestyle. We can help implement a strategy that will help them to accumulate the money that they need prior to retirement and then to withdraw funds in the most tax advantageous means possible after retirement. ESTATE PLANNING: A well-executed estate plan can save your heirs time and money. While we are not estate attorneys and do not draft estate planning documents, we as financial planners understand the importance of passing assets from generation to generation. Through planning, the future tax liability for your heirs can be kept to a minimum. We work with estate attorneys to properly register assets to coincide with any trusts or documents that have been established to the clients’ benefit. We can help identify which assets are most appropriately owned individually, jointly, and in an irrevocable or revocable trust. TAX PLANNING: Everyone believes that they are paying too much by way of taxes. Tax laws are constantly changing with respect to rules, rates, and deductions; and therefore we must stay in tune to how certain changes affect our clients’ overall financial picture. We encourage tax minimization strategies such as maximizing retirement plan contributions. When we create individual financial plans, we are able to pinpoint beneficial tax minimization strategies on a per case basis. INSURANCE PLANNING: We help our clients’ transfer risk through individual and group life insurance, disability, health, and long-term care insurance. We do not have ties to any particular insurance company. Instead, we search reputable insurance companies for a specific product, which coincides with the goals and needs of the client. EDUCATION PLANNING: As tuition costs increase, it is extremely important for parents to begin saving for education as early as possible. There are many available options: 529 savings plans, education IRAs and personal investments in tax-managed mutual funds. 529 savings plans offer tax-deferred growth, flexibility for the owner to change “the beneficiary” and withdrawals at the beneficiary’s rate. Tax managed mutual funds allow the parent the flexibility to change the purpose of the investment dollars (e.g. to a retirement fund should all of the money not be needed for college), as well as limiting the annual tax bill through tax efficient fund managing. ASSET ALLOCATION: Asset allocation is the process of dividing money amongst several different assets and asset classes. The goal is to optimize the risk/reward tradeoff. In addition to splitting money between equity and fixed investments, asset allocation goes deeper. We analyze equity holdings to try and avoid overweighting in respect to market capitalization, sector, industry, country, etc. In analyzing fixed investments, we focus on credit ratings, bond duration, years to maturity, etc. RETIREMENT PLANS: We believe that people cannot solely rely on others (social security, government and corporate pension plans) to provide retirement income. People need to take the responsibility of saving for retirement into their own hands. Non-qualified or qualified savings plans have become a major portion of our business. We establish and maintain plans for small-medium sized companies, as well as individual clients. We are very familiar with individual plans such as IRA’s (Roth and traditional), as well as simplified employment plans such as SEP’s, money purchase pension plans and profit sharing plans. Also, we specialize in the employer sponsored plan market by establishing 401(k) plans, Simple IRA’s, 403(b) plans and cross-tested comparability plans. In establishing an employer sponsored retirement plan such as a 401(k), we meet face-to-face with each individual employee to advise on appropriate choices within the plan, as well as the important financial decisions made outside of the plan. JOB CHANGES: Whenever an individual changes jobs, by choice or by chance, a portion of the employee’s retirement funds may remain at the old firm. There may be many reasons to move these assets away from a prior employer’s control. In this way, an individual has unlimited investment choices for rolling over a 401(k) or other employer sponsored plan. We can help consolidate these plans under your control within a Rollover IRA. As always, our recommendations take into account the investor’s current situation with a primary focus on diversification. In executing an IRA rollover, the investor continues to defer taxes until withdrawals begin, which most likely begin during the retirement years. COLLABORATIVE LAW: Divorce without court. The Collaborative Law Process is a clearly-defined team approach that takes place in a confidential and private environment. The team consists of you and your spouse, each of your attorneys, a mental health neutral, and a financial neutral. The goals and interests of the individuals are explored and the couple decides what their family needs - not a judge. For more information on the Collaborative Law Process in Central Florida, visit www.cfl-clf.com. |
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