We believe that an informed client is the best
client. We will keep you updated on issues that
may affect your financial situation. Additionally,
please keep us informed of any changes in your
circumstances, such as health issues, shifts in
your retirement goals, or the sale of a home. The
more we know about your unique situation, the
better we can advise you.
A skilled financial professional can help
simplify your journey toward achieving your
goals. By understanding your needs and
objectives, we can create a plan tailored to
your situation. As always, we appreciate the
opportunity to assist you with all your
financial needs.
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Your Complimentary Starter Session™ Today!
Financial Planning and Advisory Services are offered through Prosperity Capital Advisors (“PCA”), an SEC registered investment advisor. Registration as an investment advisor does not imply a certain level of skill of training. Wealth
Management Strategies and PCA are separate, non-affiliated entities. PCA does not provide tax or legal advice.
Tax Planning During Market Volatility
Navigating market volatility can be frustrating. The good news is that investors could
possibly take advantage of potential strategic tax planning opportunities during these times.
• Roth IRA Conversions – While this is a complex strategy that you should discuss with a financial
professional before implementing, converting to a Roth IRA during a market downturn can potentially
maximize tax-free growth in the future. By converting when the value of your traditional IRA is lower due
to a market downturn, you will pay taxes on a smaller amount, and any subsequent market recovery
will be tax-free within the Roth IRA.
• Tax Loss Harvesting – Downturns can provide opportunities to “harvest” capital losses. Investments
that are valued below their cost basis can be sold and the losses taken can be used to offset capital
gains. If losses exceed gains for the calendar year, up to $3,000 may be used to offset ordinary income,
and unused balances can be carried forward to future years. Please note that you should talk with us
or a tax professional about doing this because rules like you must wait 30 days to repurchase the
security to avoid a “wash sale” need to be followed.
• Gifting to Family Members at Reduced Prices - When equity prices are down, you can gift securities
at lower values using less of your annual or lifetime gift tax exemption. Like the other items on this list,
we recommend you coordinate these with us or a qualified professional to fully understand the rules
and effects, but this strategy can prove to be effective during market downfalls.
Complimentary Starter Session™
One of our goals this year is to help more people with their financial decisions.
If you are not a client of Wealth Management Strategies, we would like to offer you a
complimentary, Starter Session™ at absolutely no cost or obligation.
Please call 252-451-0488 for more information or to schedule your Starter Session™!