Why is integrated tax and investment planning important?

When tax planning and investment management are handled by separate professionals who don't communicate, decisions in one area can inadvertently create problems in the other — such as a Roth conversion that triggers unexpected Medicare surcharges, or a capital gain realization that pushes income into a higher bracket. Godsey & Gibb's integrated model ensures both disciplines are planned from the same strategy.

Do your wealth advisors and CPAs work together?

Yes. Godsey & Gibb's CPAs and wealth management advisors work in close coordination, reviewing client portfolios and tax situations together rather than independently. This is one of the firm's core differentiators from firms where investment and tax advice are siloed.

What tax planning strategies do you use for high net worth retirees?

Common strategies include Roth conversion planning, qualified charitable distributions (QCDs), tax-loss harvesting, strategic capital gains timing, RMD planning, and Medicare premium management through IRMAA awareness.

Tax Planning for Affluent Families

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Expert Tax Strategy and Preparation Services

Protect your wealth with year-round tax planning designed for affluent families approaching retirement.

Our in-house CPAs work alongside your wealth advisor to minimize tax impact of your investments. We provide comprehensive tax preparation services including individual, trust, estate, gift, and certain pass-through entity returns.

Tax Strategy and Preparation Services are available to investment management clients with us as of the previous calendar year-end.

Note: This service has additional costs beyond investment management fees.

Why Professional Tax Planning is Essential for Affluent Families

Even the best investment strategy can be undermined by poor tax planning. A portfolio generating strong returns means little if taxes erode those gains. After-tax returns are what truly matter for affluent families building and preserving generational wealth.

Proactive year-round planning keeps you ahead of tax obligations rather than scrambling during filing season. When your tax team monitors your taxable income throughout the year, opportunities emerge that reactive filing simply cannot capture—strategic Roth IRA conversions during lower-income periods or charitable giving with appreciated securities instead of cash, lowering capital gains tax exposure (just to name a few).

An integrated approach ensures your tax strategy aligns with every investment decision. High net worth individuals often face complex situations involving trusts, estates, family businesses, and multiple income streams. Without coordination between tax advisors and wealth management, decisions made in isolation can trigger unintended tax liability or miss significant tax savings opportunities.

At Godsey & Gibb, your tax team and wealth advisors work as close colleagues—not as separate firms exchanging paperwork once a year. This relationship means your wealth advisor may consult with tax professionals before executing trades with tax implications, and your tax team understands your complete financial plan when developing tax mitigation strategies. The result is a unified approach where investment management and strategic tax planning reinforce each other.

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Our Tax Services

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Year-Round Tax Strategy

Tax planning begins the day you become a client, not when April approaches. Our tax team integrates with your investment management from day one, ensuring every portfolio decision considers its tax efficiency implications.

Periodic check-ins keep your tax strategy current with your investment activity. We analyze realized capital gains, dividend income, and changes to your financial situation to optimize your tax position throughout the year. This proactive monitoring means your estimated tax payments are properly sized—helping you avoid a large, unexpected expenditure at the filing deadline.

You’ll have access to tax experts for questions whenever they arise. Whether you’re considering a charitable donation, evaluating a business opportunity, or wondering about the tax benefits of a particular strategy, our team is available year-round. Additionally, clients receive invitations to our annual tax update call from Director of Tax & Financial Planning Marc Verdi, keeping you informed about changing tax laws and new planning opportunities.

Comprehensive Tax Preparation

Our tax preparation services cover the full range of returns affluent families require:

Individual income tax returns (Form 1040) — Complete preparation including complex situations involving multiple income sources, sole proprietorships, state income tax considerations, and itemized deductions
Estate and trust income tax returns — For irrevocable trusts and estates, navigating the compressed tax brackets that apply to trust taxable income
Gift tax returns — Documentation for wealth transfer planning when gifts exceed the annual gift tax exclusion
Pass-through entity returns — Preparation for certain client-owned businesses, partnerships, and S-corporations as requested, if engaged to prepare your individual tax returns

Note: Tax preparation is available only to active investment management clients as of the previous calendar year-end. This ensures proper integration between your investment and tax strategies.

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Top Tax Strategies for Affluent Families

Below are a few examples of the types of strategies we implement for our clients in attempt to decrease their tax obligations:

Strategic Roth IRA conversions during lower-income years

Converting traditional retirement accounts to Roth IRAs locks in current tax rates, eliminates future required minimum distributions, and provides tax free growth for heirs. Timing conversions during years when your taxable income is temporarily reduced—perhaps due to a business loss or gap before Social Security begins—can dramatically reduce tax liability over your lifetime.

Charitable giving with appreciated securities

Donating appreciated stocks directly to charitable organizations allows you to claim a tax deduction at fair market value while avoiding capital gains tax on the appreciation. For larger philanthropic goals, establishing a donor advised fund or charitable remainder trusts can provide ongoing tax benefits while supporting causes important to your family.

529 plan contributions and superfunding for education planning

These tax advantaged accounts allow after-tax contributions to grow tax-free when used for qualified education expenses. Superfunding—contributing up to five years of the annual gift tax exclusion at once—accelerates tax free growth while keeping funds within exclusion limits.

Health savings account maximization

For families with high-deductible health plans, HSAs offer triple tax benefits: tax deduction on contributions, tax-free growth, and tax-free distributions for medical expenses. These accounts become increasingly valuable as healthcare costs rise in retirement.

Estate planning with lifetime gifting to reduce taxable estate

With the federal estate tax exemption at $15 million per individual in 2026 ($30 million for married couples), strategic lifetime gifts can transfer wealth and future growth to family members while minimizing estate and gift taxes. Tools like a grantor retained annuity trust can transfer business interests or appreciating assets with minimal gift tax cost.

Asset location optimization across taxable and tax-deferred accounts

Placing high-turnover investments in tax deferred accounts and tax-efficient investments in taxable brokerage accounts may reduce your overall tax burden. This coordination between account types requires close collaboration between investment strategy and tax planning.

Family business structure for succession planning

Proper structuring of a family business can provide valuation discounts, facilitate transfer wealth to the next generation, and minimize state and local taxes. Planning ahead prevents forced liquidation to pay estate taxes when business owners pass away.

Trust structures for multi-generational wealth transfer

Dynasty trusts, irrevocable trusts, and other structures protect assets from creditors, minimize state estate taxes, and ensure wealth preservation across generations. The key is matching trust structure to family objectives while navigating compressed trust income tax brackets.

Our Tax Planning Process

Step 1: Initial Tax Team Meeting

Just like meeting your new wealth advisor, you’ll have a dedicated introduction with our tax team. We review your complete tax history, examining prior returns, identifying patterns, and understanding your specific objectives. This meeting establishes the foundation for your integrated tax strategy—we need to know where you’ve been to optimize where you’re going.

We assess your current tax situation across all dimensions: income tax, capital gains exposure, potential estate tax liability, charitable giving patterns, and any planning already in place. Immediate opportunities may emerge from this review—tax strategies that previous advisors may have overlooked or new planning possibilities based on current tax laws.

Step 2: Integrated Strategy Development

Your tax team collaborates directly with your wealth advisor to align strategies. This isn’t a handoff between separate firms—it’s financial professionals working as colleagues with shared accountability for your outcomes. Together, we develop a year-round tax plan coordinated with your investment management approach.

We create a specific timeline for implementing tax-saving opportunities. This might include scheduling Roth conversions, timing charitable contributions of appreciated assets, establishing trust structures, or adjusting retirement plan contributions. Every element connects to your broader financial plan and wealth preservation goals.

Step 3: Proactive Implementation

Throughout the tax year, we monitor your situation and make adjustments as circumstances change. When investment decisions arise, we calculate the tax implications before action is taken.

We coordinate estimated tax payments to eliminate surprises. By sizing quarterly payments appropriately throughout the year, you avoid both underpayment penalties and large, disruptive expenditures at filing deadlines. This proactive approach—recommending and tracking preemptive tax payments—exemplifies why having your tax team as close colleagues matters more than working with an external accounting firm that simply files returns without accountability for your tax obligations.

Step 4: Professional Preparation and Filing

As filing deadlines approach, our team prepares all required tax returns with the thoroughness your situation demands. We compile documentation, apply legitimate tax deductions and credits, and ensure compliance with federal, state, and local tax requirements based on the information you provide. We work closely with you to ensure that your tax return reflects your income and deductions to minimize your tax liability.

A final review provides assurance that we have prepared your tax returns with a high degree of accuracy and have thoughtfully considered opportunities for tax minimization prior to sending them to you for review and signature. After submission, we remain available to address any questions, respond to IRS correspondence, or adjust planning based on final numbers. The relationship doesn’t end when returns are filed—it continues as we prepare for the next tax year.

Frequently Asked Questions

What makes your tax services different from a traditional CPA firm?

Our tax team works as close colleagues with your wealth advisor year-round, not as a separate firm that only sees your paperwork at filing time. We’re proactive about your taxes—anticipating implications of investment decisions, recommending estimated payments, and identifying planning opportunities throughout the year. When your tax team and wealth advisor collaborate to help you achieve financial success, the coordination produces results that siloed relationships cannot achieve.

Can I use your tax services without being an investment management client?

No, tax preparation is only available to active investment management clients. You must be an active investment management client as of the previous calendar year-end to receive tax preparation services for the current calendar year. This requirement exists because effective tax planning requires integration with your investment strategy. Preparing returns without understanding the investment decisions behind them could compromise the quality we deliver—and the potential tax savings opportunities our clients deserve.

How do you keep me informed throughout the year?

You have access to our tax experts year-round for questions as they arise. Whether you’re evaluating a major financial decision or simply curious about how recent legislation affects your situation, we’re available. Clients also receive invitations to our annual tax update call from Director of Tax & Financial Planning Marc Verdi, providing timely insights on changing tax laws and emerging tax planning strategies.

Beyond scheduled communications, regular coordination between your wealth advisor and tax team means relevant tax information flows naturally as part of ongoing wealth management conversations. You’ll feel like part of the family—informed, included, and confident that your tax situation receives the same relationship-driven attention as your investments.

Note: This service has additional costs beyond investment management fees.

Start Your Integrated Tax Planning Today

Experience the difference when your wealth advisor and tax team work as close colleagues. Minimize tax impact of your investments with year-round proactive tax planning that treats after-tax returns as the measure that truly matters. Join the Godsey & Gibb family for relationship-driven tax and wealth management services. Our highly communicative approach ensures you feel informed and supported throughout the year—not just at tax time.

Meet your next wealth advisor: Learn about our Richmond, Greenville, Jacksonville, and Phoenix offices, or schedule your consultation to discuss integrated tax and investment planning