Next-Level Tax Strategies Delivered

Accelerating You Toward Complete Financial Independence Through Our Cutting-Edge Tax Minimizer© Program

At Strait & Sound, our mission is to empower clients to achieve complete financial independence, so they never have to worry about money again. Taxes play a huge role in how long this can take. The more you can mitigate taxes, the faster you can accelerate toward financial independence.

For clients who are already financially independent, taxes can be the single biggest source of financial frustration in their world. Tax mitigation strategies can make the difference between building net worth that will outlive them by multiple generations or passing a far smaller amount to heirs. Taxes are a burden and it makes no sense to pay more than your fair share.

This is why we are so pleased to introduce our new technology-assisted Tax Minimizer© program. This technology-driven approach to mitigating taxes could dramatically reduce how much you pay in taxes today and far into the future. The purpose of this document is to introduce you to the program, how it works, why you should consider it, how much it costs and how to get started.

An Introduction To Tax Minimizer©

This program is designed to substantially reduce the amount clients pay in Federal Income tax, although other tax agencies could also be considered as part of this offering. The program is comprised of four phases:

• Technology-assisted review of the last few years of tax returns using the Holistiplan software application.
• Analysis and modeling of different options considering your priorities, goals, and complete financial circumstances.
• Recommendations from your financial advisor and Gil Wiseman, our tax planning expert, on moves that can reduce your tax burden and create greater flexibility over your lifetime.
• Implementation of these recommendations with or without our support, depending on your needs and resources.

Since Strait & Sound was founded, it has been our aim to practice a tax-oriented investment management philosophy. The way we’ve done this in the past is through manual review of tax returns and consultations with clients. Frankly, that process was laborious and often didn’t allow us to accurately project how our recommendations could benefit clients over the long-term. But that has now changed with the rise of technology-assisted tax analysis tools.

Holistiplan is a cutting-edge software application that leverages OCR (optical character recognition) technology to quickly and accurately ingest hundreds of pages of tax returns, whether in PDF or written form. The software accurately recognizes data tables from client returns and transfers the data to their database for analysis. This process, which formerly took hours or even days to complete, can now be completed in just a few minutes.

Holistiplan then compares the data from your tax return to existing tax codes and future revisions to the codes that are currently published. This empowers us to create a list of potential tax-saving opportunities. Our analysis will generate a report of scenarios that may make sense for your situation.

This brings us to Gil Wiseman, our in-house tax expert. Gil will be the person leading this process. He will collect your federal tax returns, input them into Holistiplan, review the tax report and schedule a consultation with your financial advisor. Gil and your advisor then begin the process of creating scenarios that take into consideration your existing circumstances, priorities and goals. Then they develop tax strategies and recommendations that align with your financial plan. If those make good sense, your advisor will schedule a consultation with you and Gil to review them.

During the modeling phase, Gil can alter input parameters into the strategies to show how certain recommendations might benefit you over the next several years. These strategies could include:

• ROTH conversions
• Tax deferment strategies
• Leveraging employer benefits
• SEP IRAs for business owners
• Bundling deductions
• Charitable tax vehicles
• Estate planning vehicles
• Dozens of other options

The goal of this program is to customize your tax strategy based on your unique goals, timelines, family dynamics and long-term plan. This service is not a replacement of your current CPA or tax preparer. However, most tax preparer’s calculations are based on backward-looking data where the opportunities to make changes will have passed. This service is forward-looking, seeking opportunities to mitigate taxes in the future.

Some clients will be able to take these recommendations and implement them with their tax advisor. Other clients will need assistance from us to implement the recommendations. Either way, we stand ready to help.

Why Should You Consider This Offering?

At the very least, this service will provide you a second opinion on your current tax strategy. It could confirm that you’re making all the right moves. Or, quite possibly, it could show you strategies you’ve not yet considered or approaches to certain strategies that could yield far better results over time.

In our experience, most people have never seen tax-option-modeling or understand what it could do for them. This could save you a tremendous amount of money over time. This could also accelerate you toward complete financial independence, potentially cutting several years off that path. It could also help you maximize the amount you pass to heirs or charitable organizations of your choice.

How Much Does It Cost?

That depends on several factors. For some clients, there will either be no cost or a nominal charge. Other clients may choose to have us support them all the way through to the full implementation of the recommended strategies. As it relates to our fees, our goal is to give you a 10X return. Whatever you spend with us, we want you to realize ten times or more that amount in tax savings over the coming years.

Is It Secure?

Yes. To be clear, Holistiplan is a third-party application that operates in the Cloud. But the same is true of Orion, Orion Planning and numerous other applications we use to run our business. Holistiplan is highly regarded in the wealth management world and has earned exceptional marks for data security and data integrity.

Clients who are concerned about privacy can also black-out certain fields, like social security numbers, in PDF documents before they are loaded into Holistiplan. Also, if clients are sensitive to their tax data being stored in the cloud, we can permanently delete the data from the Holistiplan servers as soon as the analysis is complete. Holistiplan publishes a trust report from Vanta, which you can see on their website.

How Do You Get Started?

Please reach out to your financial advisor to schedule a kick-off meeting with Gil Wiseman. In this meeting we will answer all your questions, come to understand the workload associated with this engagement and provide you with a proposed fee structure.

Our mission is to empower each client to achieve complete financial independence and to help clients live meaningful and rich lives, free of money worries. Mitigating taxes could accelerate you toward complete financial independence and help you transfer an even greater share of your wealth to loved ones and charities.

Disclaimer:
The information on this website is for general guidance and is not intended to replace or serve as substitute for any audit, advisory, tax or other professional advice, consultation, or service. Consult with the appropriate professional for specific advice before making any decision.