“Give to everyone what you owe him.  If you owe taxes, pay taxes” (Romans 13:7). As Christians, it’s our duty to pay any taxes owed.  As wise stewards, we believe it’s also our duty to reduce the amount of taxes owed so that we can use our wealth for other purposes.  That’s where tax planning comes into play. 

What Is Tax Planning?

The core purpose of tax planning is to reduce tax liability. There are a variety of taxes that have to be paid and all of them take a bite out of your wealth. While taxes are not 100% avoidable, there are a number of ways to minimize their impact.

Types of Tax Planning

There are numerous tax planning strategies we will employ to help reduce your tax liability, including:


  • Retirement Savings:  Maximizing the short- and long-term tax savings through use of traditional and Roth IRAs and 401(k)s, Roth conversions, deferred compensation, etc.
  • Strategic Giving:  Gifting of appreciated securities, Lump giving strategies, Qualified Charitable Distributions from IRAs, using Charitable Remainder/Lead Trusts, and giving through your estate
  • Strategic Distributions: Developing an ordered plan for withdrawing from investments to minimize your short- and long-term tax liabilities.  
  • Maximizing deductions: Congress changed tax planning greatly with reforms passed in 2017.  We will coordinate mortgage interest, tax payments and charitable giving strategies to maximize your income tax deductions. 
  • Health Insurance: With the Affordable Care Act, if we plan in advance and position your assets properly, you can maximize the subsidy you will receive for health insurance which could dramatically reduce your healthcare costs in early retirement. 

Our Process

We’ll start by looking at your previous tax returns to get familiar with your situation.  We will then look for opportunities to reduce your current and future tax liabilities. We will then partner with your CPA to ensure that these tax strategies are implemented and incorporated into your financial plan.  

Your situation and/or tax law can change down the road. We will adjust our tax planning strategies in an attempt to maximize your tax savings opportunities.

Additionally,  Shepherd has tax preparation services to assist in the preparation of personal, business and trust tax returns.

Let’s Start a Conversation