Financial Asset Management Advice Kansas

The following article talks about six things you should know before you sell your highly appreciated assets. It talks about considering how much you owe in taxes and developing strategies.

Local Companies

RTS Financial
913-890-6523
8601 Monrovia
Lenexa, KS
Advantage Advisors Llc
(913) 432-4322
6750 W 75th St
Kansas City, KS
Frigon Ann Hastings Jd Llm Cfp
(620) 225-2999
1206 W Frontview St
Dodge City, KS
Hefner Scott
(913) 345-8200
4400 W 109th St
Overland Park, KS
Waddell & Reed Inc
(785) 743-5440
521 Russell Ave Ste A
Wakeeney, KS
The Trust Company of Kansas
(620) 442-5561
1329 N 1st St
Arkansas City, KS
Syverson & Company Llc
(913) 693-7526
7500 College Blvd
Shawnee Mission, KS
Laurance A Myers Clu Chfc Cfp
(316) 283-7441
414 N Main St Ste 120
Newton, KS
Vsr Financial Services Inc
(785) 628-1712
Emprise Bank
Hays, KS
Practical Planning Llc
(913) 908-7548
8301 W 102nd St
Overland Park, KS

6 Things You Need to Know Before You Sell Your Highly Appreciated Assets

Chances are that your current CPA, Attorney, Financial Advisor or Real Estate Professional do not specialize in the area of capital gains tax savings. This may result in misinformation or lack of any helpful advice from those who you rely on for major financial guidance. It is essential to work with someone familiar with current tax law, planning strategies and your entire financial situation to get the assistance you need. The following steps will give you a head start to find the right person to help minimize your tax obligation.

  1. Find out how much you will owe in taxes if you do not implement a tax planning strategy. This is a crucial first step, because it will allow you to compare which strategy provides you the most benefit in savings. Not all tax professionals are aware of how to calculate the tax liability for every situation.
  2. Be sure all of the tax consequences are outlined. Some of the considerations are federal, state and/or city capital gains tax, recaptured depreciation, long or short term gain involved, corporate taxes (if applicable) and whether or not the Alternative Minimum Tax will be triggered by the sale. Be sure all of the taxes relevant to your situation are added and considered.
  3. Work with someone who can outline all of the strategies available to you. Many advisors are only aware of one specific strategy and will try to make it work for any situation. Rarely will they offer additional alternatives, so you may never be aware they exist. Have an advocate to ask the right questions to determine the details of a tax strategy and its long term effects. It is difficult to determine which plan to choose if you only hear the "selling points" and not the potential risks or down side....

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Author: Paula Straub

Featured Local Company

RTS Financial

RTS Financial offers factoring, accounts receivable financing and purchase order financing to keep your business moving.

913-890-6523
8601 Monrovia
Lenexa, KS
http://rtsfinancial.com

RTS Financial has been helping businesses acquire working capital to keep their operations moving since 1995. We offer accounts receivable financing and purchase order financing for businesses that need additional cash flow.

RTS Financial

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