Tax Advice

Rollins Financial has tax and accounting experts that will work to reduce the amount of taxes you have to pay the government, thereby increasing the amount of money you have to spend or save. By increasing your tax deductions, reducing your taxable income by investing in retirement accounts, and taking advantage of tax credits and helpful provisions in the tax law, we can minimize your tax debt and put you in a better position to achieve your financial goals.

The advisors of Rollins Financial are disciplined. We keep your long-term financial goals in our line of sight, and do not give in to emotionally charged reactions to the sometimes-volatile financial market.

Whereas many competitors accept financial incentives for recommending certain products, we are fiduciaries for our clients. We never accept commissions on financial products we recommend. This allows Rollins to remain objective, only offering financially efficient investment solutions that we believe to be in the best interest of our clients.

Crucially, every client retains ownership of his or her own assets and receives independent monthly statements and trade confirmations directly from the well-known brokerage firms with whom we work. Transparency is a cornerstone of a healthy wealth management relationship.

Adjusted Gross Income (AGI) is your income from all sources after all deductions and adjustments have been made. This is what your tax liability is based on. Financial entities such as mortgage lenders and college financial aid offices may also request AGI information to help determine your eligibility or fitness.

Rollins Financial can help you lower your tax bill with a three-pronged approach:

  • Lowering your taxable income, or your AGI

  • Increasing your tax deductions

  • Utilizing tax credits

Lowering Your AGI

The best place to start is to make full use of the tax-advantaged retirement savings vehicles legally available to you; employer-sponsored 401(k) or 401(b) accounts and traditional or simplified employee pension (SEP) IRAs.  

401(k)s and 403(b)s can be a powerful savings tool for individuals, allowing employees to compound their retirement saving through employer matches and reap the benefits of tax deferment until retirement. They can also create huge tax savings in the present, as contributions reduce your AGI in the present by a dollar-for-dollar basis.

Increasing Your Tax Deductions:

The three largest categories of tax deductions available for most filers are mortgage interest, state taxes, and gifts to charity. There are, however, many others, including deductions for health care, state and local taxes, personal property taxes, expenses related to your employment, and some investment-related expenses.

Rollins Financial works hard to stay current with tax law to make sure our clients minimize their tax liability and have the best chance possible to reach their financial goals.

Taking Advantage of Tax Credits

Policymakers like to employ tax credits to encourage certain types of consumer choices and behavior. There have been tax credits for buying hybrid automobiles or investing in solar energy. There are tax credits for costs associated with higher or continuing education. You may be eligible for tax credits related to elder care or child care/adoption.

Given the number and variety of tax credits which may apply, it’s a good idea to consult a tax expert about your particular situation. We’ll make sure you receive all the tax credits that apply. Every client’s financial situation and goals are different. Once we’re familiar with your portfolio of assets and your family’s needs, both now and in the future, we can begin looking at tax strategies to ensure your financial health.