LFA Newsletter | June 2023

June 21, 2023

You may have noticed over the last few years we have been asking more questions about taxes. While we understand that taxes may not be the most exciting topic, they do present a fantastic opportunity for us to reassess and refine your overall financial strategy. By incorporating your tax situation into our overall approach, we can work together to help manage your tax liability. Some of the ways we leverage tax returns in our overall process include the following:

Tax-Efficient Portfolio Management

A thorough understanding of your tax situation puts us in a better position to understand your overall personal finances. This allows us to discuss different approaches, which may lead to a more tax-efficient investment strategy.

Retirement Optimization

Comprehensive knowledge of your tax situation allows us to better understand the role each of your retirement accounts plays in your overall financial strategy.

Tax-Sensitive Withdrawal Strategies

Taxes are one factor to consider when withdrawing money from your accounts during retirement. We can show you illustrations so you can better visualize why tax management is a critical factor when making withdrawal decisions.

Coordination of Tax Strategies with Your Tax Preparer

Having a clear understanding of your tax situation allows us to collaborate effectively with your certified public accountant (CPA) or Enrolled Agent. A well-structured financial strategy should take into account your tax situation as well as a variety of other factors.

Ongoing Tax Management

Tax laws and regulations are constantly changing. By reviewing your tax returns annually, we can show you potential adjustments in your financial strategy that may help address new laws and regulations.

Whether you filed your taxes in April or have an extension, upon completion of your 2022 taxes, we invite you to share your tax returns with us if you have not already done so. Please do not email your tax returns directly to us.

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Thank you for the trust you've placed in our team. We remain dedicated to helping you pursue your family's financial goals and are honored to be part of your journey. As always, please reach out to us with any questions or concerns.

Your LFA Team,

Steve Van Houten, CFP® | President, Financial Advisor

Brian Field | Financial Advisor

David Mathias, CFP®, MSBA | Financial Advisor

Luke Van Houten, CFP® | Financial Advisor

Zoran Selakovic, MBA, AIF | LPL Financial Advisor

S. Sid Ean, MS | Regional Director

Leah Beltran | Branch Operations Manager

Brenda Barnett | Administrative Associate

Charles Leveson-Gower | Operations Associate

Liliana Li | Operations Associate

Stephanie Peters | Operations Associate

Nicholas Baez, MBA | Operations & Project Associate

LFA puts on several engaging webinars each year. We love to educate and entertain our clients and keep them up to date with the latest trends and topics in the financial industry. Check this page often to see what our next exciting event will be.

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The financial advisors at Lifetime Financial Advisors are registered representatives with, and securities offered through LPL Financial, Member FINRA/SIPC. Financial Planning offered through Lifetime Financial Advisors, Inc., a registered investment advisor and a separate entity from LPL Financial. 06/23 #449079

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risk, including possible loss of principal. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.