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Dependable Midwestern Financial Advisors

Tax Planning

What is Tax Planning?

Tax planning is the strategy of aligning your financial goals and resources with your financial plan, in an effort to optimize outcomes, while deploying sound strategies in efforts to reduce current and future taxation. Putting a plan that does this successfully is called “tax-efficient.”

There are several considerations that should be made during tax planning, some of which are:

  • Timing of income
  • Size of income
  • Timing of purchases
  • Planning for other expenditures
  • Tax-efficient liquidations or dispositions of assets
  • Estate freeze techniques 
  • Charitable giving strategies
  • Estate planning to reduce future estate taxation

Good tax planning strategies don’t just include evaluating your present financial situation, but also saving for retirement, or possibly engaging in tax-loss harvesting.

Some questions for those unfamiliar with tax planning may include:

  • How can I reduce income taxation in the current year?
  • What is a qualified retirement plan?
  • How do municipal bonds work?

What can you expect from Tax Planning with Midwestern Financial?

Our forward tax planning techniques are variable and advanced depending on your individual situation. Most of what we try to take into account and accomplish with each client’s tax plan encompass questions like:  

  • How do we minimize your taxes today and tomorrow?
  • What bracket are you in?
  • Can we reduce your income below this tax bracket? If yes, let’s do it. If not, why?

We’re not CPAs, but we are constantly thinking about the next dollar you make and how it can best be put to work for you. Our ultimate goal is to assist you in understanding how deploying such strategies can reduce taxation today or well into the future. 

Midwestern Financial Group: Fiduciary Duty and Your Interests

There’s no need to go it alone when it comes to financial planning. Our team of experts can help you hit your targets, whether you’re looking to invest, save for college, or manage your assets. 

We’ll work with you to create a custom plan that fits your needs, and we’re happy to serve clients based in Iowa and beyond. So reach out today and let us help you achieve your financial goals.


Fiduciary Advisors
How Our Process
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1. Introduction

First, we get to know each other— what your life is like, what is most important to you, and what your hopes and dreams are. We’ll help you get to know us, too. We believe that honesty and trust are key to fostering a productive advisor relationship.

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2. Goal Setting

Next, well review your financial data to get a sense of where you are today and how we can improve your financial future. We brainstorm goals unique to you and assess what future liabilities may be present, so we can plan for those as well.

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3. Planning

Our advisors then prepare a recommended financial plan focused on hitting your personalized goals. Our fiduciary standard ensures that recommendations are in your best interest — not to sell financial products or generate commissions.

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4. Management

After we implement the recommendations, you can rely on us to constantly monitor outcomes and track the progress towards your goals. We’ll work together to adjust the plan for life changes or market returns.

Midwestern Financial Group
The dedicated team you need.
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Joseph Jay, CFA
Founder & Managing Partner
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Patrick Campbell
Founder & Managing Partner
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Andrew Picchietti
Associate Advisor