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However, you can learn how to strategically manage your taxes in the most efficient way that pertains to your unique financial situation. It begins with remaining proactive.

Taxes top of mind: Here, you will find five ways to help ensure you’re on track to tax-minimization. Some of the most prominent questions to ask yourself include:

📌 Is the end goal the lowest possible taxes or more after-tax wealth? Don’t let the tax tail wag the dog. A long-term tax managed strategy should focus on both tax-minimization and after-tax wealth, so that more dollars end up in your pocket.

📌 How are assets selected, allocated and optimized? Limiting exposure to less tax-efficient asset classes, considering a mix of active and passive funds and utilizing a “flexible bond-positioning strategy” can all lend to a diversified, tax-prioritized portfolio.

📌 How is tax-loss harvesting managed? Opportunities for tax-loss harvesting should be considered throughout the year, even beyond times of market volatility, with the priority to lower taxes in the current year or in the near future.

A tax plan worth pursuing: No matter your goals, no matter your net worth, there will always be value found in a tax-managed investment strategy.