Tax Planning

Making Dollars and Sense Requires Proactive Tax Planning

Things as Certain as Death and Taxes…

Planning for the future is important. Whether you quote Benjamin Franklin or Uncle Sam, death and taxes are inevitable things we will all have to face. This is especially true for investors and retirees that have already deferred taxes (like in retirement plans or IRAs). More than 58 million Americans have 401(k) retirement plans and over $6 trillion of investments are held in these plans.

Typically accountants, tax preparers, and CPAs are used to file tax returns. By proactively coordinating tax planning & investment planning clients of Cardinal can rely on their advisors to watch for the details. Cardinal works directly with tax professionals, prepares draft returns for review, and can project future tax returns based on your goals and objectives. Your right hand needs to know what your left hand is doing.

Tax Forms

Incomes are Taxed Differently

  • Federal capital gains tax rates can be 0%, even up to $80,800 of income (2021)
  • Between 0% and 85% of Social Security can be received free of federal income taxes
  • States treat income differently, sometimes taxing capital gains more than the IRS or not taxing Social Security at all

Let us do the work.

Learn more about IRMAAs…

Navigating all the details of retirement is a full-time job.

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