The goal is to help members reduce their tax burden by analyzing the tax impact of every financial decision they make. Working alongside our planning team and your accountant, we’ll make recommendations throughout the year so you are fully prepared for tax season.
Personalized financial planning solutions for a fraction of the cost that traditional CFPs charge
How does it work?
Our financial advisors will:
Analyze your prior year tax return (Form 1040)
Conduct a withholding analysis (Form W-4) to ensure proper withholding and prevent any surprises at tax filing
Evaluate your investment portfolios for opportunities to harvest tax losses
Prepare and present any proposed changes (i.e. increase withholding, complete a Roth conversion, etc.)
Coordinate the filing of your individual tax return (*included in Platinum membership tier)
Our team will complete a full review of your tax planning strategy when you get started with us and help you proactively monitor along the way. However, if there is a significant change to your financial situation, please reach out and we’re happy to adjust your plan accordingly.
Please note: Platinum members who have elected for Range to prepare and file their taxes will get access to ongoing tax monitoring and tax filing.
Your Range financial planners have access to a full suite of industry-leading tax analytics tools to complement the tax planning process. Once we capture the data needed for your specific situation, we will populate your profile with some of the key features highlighted below. That way you can access critical details of your tax plan without having to comb through your multi-page comprehensive financial plan or your tax documents.
Since you got married last month you and your spouse are now subject to a new tax rate. You should both update your Form W4 with your employers so they are not withholding too much tax each pay period. In Step 1, change box C from Single to Married filing jointly, and in Step 2 input the results from the IRS withholding estimator located in the Files section of your profile.
Tax Recommendation Example
Complete a Roth Conversion
A Roth conversion is the process of converting a tax-deferred retirement account into a Roth IRA to set yourself up for tax-free retirement income that isn’t subject to RMDs. We recommend converting your ABC Co 401(k) to a Roth IRA this tax year because your effective tax rate is lower than usual. Our planning team will facilitate the conversion, however, if you’d prefer to handle it yourself we’ve included detailed instructions in your Range profile.
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