Tax Planning
Taxes don’t knock on your door. They work quietly—shaping your income, eroding your savings, dictating the fate of your legacy. At Jeff Somers & Associates Private Wealth Management, tax planning isn’t a once-a-year frenzy. It’s a cornerstone of every financial decision, meticulously intertwined with estate planning, retirement income strategies, business succession, and more.
Personal Tax Strategies: Where Every Dollar Matters
Are your deductions doing enough? Likely not. Overlooked credits. Underused deductions. Opportunities buried in the fine print. Taxes don’t have to be a relentless drain on your resources. We dig deeper—turning every stone, finding every dollar that could be working harder. Medical expenses, charitable giving, investment losses—hidden gems waiting to be uncovered.
Retirement Withdrawals: Precision Over Guesswork
RRSPs, TFSAs, pensions—each have tax implications. Withdraw funds too soon, too late, or too much, and taxes will pounce. Our approach? Precision. We synchronize your withdrawals with your lifestyle, income needs, and tax implications, ensuring that your retirement funds flow smoothly and sustainably. This isn’t trial-and-error—it’s execution refined to an art form.
Corporate Tax Planning: Decisions That Define Wealth
Every business decision casts a shadow on your tax profile. Structure. Compensation. Succession. It’s all connected.
Short-Term Investments That Work Overtime
The right structure shields your wealth; the wrong one bleeds it dry. Incorporation strategies. Reorganizations. Asset placements. We help refine your framework for success with careful tax planning.
Smart Structures: The right structure shields your wealth; the wrong one bleeds it dry. Incorporation strategies. Reorganizations. Asset placements. We help refine your framework for success with careful tax planning.
Compensation Strategies: Salary versus dividends—it’s never a simple choice. The right balance can optimize your tax position and strengthen your long-term goals. We run the numbers and craft strategies to align today’s paycheque with tomorrow’s dreams.
Succession Planning: Selling, transitioning, or stepping back? Taxes don’t have to dictate your exit. Whether passing your business to family or third parties, we minimize friction, ensuring the value of your efforts remains intact.
Debt Strategies Aligned with Cash Flow
Debt isn’t the villain—it’s the tool. We integrate repayment plans into your budget, restructure high-interest loans, and align borrowing with your broader financial strategy. Because when debt is handled wisely, it becomes part of the solution, not the problem.
Safeguarding Your Legacy: The Ultimate Investment
Wealth is more than numbers—it’s the impact you leave behind. A trust that protects your loved ones. A charitable foundation that changes lives. Tax-efficient transfers that preserve wealth.
Your legacy shouldn’t shrink at the hands of taxes. With Jeff Somers & Associates, your PEI financial advisor and financial planner, you’ll get an estate plan that goes beyond dollars and cents, reflecting your values, protecting your family, and amplifying your impact.
Advanced Tools for Real-Time Clarity
Our advanced planning tools offer transparency like you’ve never seen—real-time updates, scenario planning, and clear benchmarks. No more guesswork. No more confusion. Know where your money is going and why it’s working for you.
Tax Planning Strategies
Life doesn’t fit into neat boxes, and neither do our tax planning strategies. Taxes, retirement, estate planning, business needs—they’re not silos. They’re interconnected. For business owners with $1M+ in assets or families juggling generational wealth, every decision ripples across your financial ecosystem. We specialize in pulling these threads together, creating a cohesive plan that works for all facets of your life.
Partnership Over Transactions
Tax planning isn’t a one-time meeting. It’s a partnership. A conversation. An ongoing process where your goals guide every decision. Careers change. Families grow. Laws evolve. We’re here for it all—adjusting, refining, and ensuring your plan keeps pace with your life.
Rewriting Your Tax Story
Taxes don’t have to erode your lifetime of hard work.
Ready to take control? Let’s build a tax plan that protects what you’ve built, nurtures what you value, and creates a legacy you’re proud of.
Ready to start your journey? Book a meeting today.