In early June, I attended the AICPA national conference, a gathering of thousands of CPAs, where I participated in advanced income tax and estate planning education.This is such an important area of financial planning and I was delighted to learn the latest thinking on strategies. Learn more about our tax planning approach here.
Mallory Kretman, Wealth Manager, Shareholder, and CFP® professional, leads us in this area. She initiated this leadership role through studying the many different tax acts that have hit our desks since 2019, including SECURE Acts 1 and 2.
Strategies we consider for our clients include:
- Tax rate planning opportunities, especially as tax rates are scheduled to increase in 2026.
- “Trough” year planning for retirees who are under age 75, which includes Roth conversion and capital gains planning recognition.
- Charitable planning, especially through donor-advised funds, which help investors “bunch deductions” for more tax punch while also avoiding capital gains taxes. Almost one-third of our clients use this tool—and I do too!
- Asset tax location planning, which helps you enhance after-tax returns by matching investment account tax advantages to investment tool tax advantages.
- Fully leveraging work plans, including 401(k)s, HSAs, deferred compensation, company stock purchase plans, etc.
- Municipal (tax-free) bonds, lower-taxed qualified dividends, and long-term capital gains.
- Roth IRA, regular IRA, SEP IRAs, and non-deductible IRA contributions.
More Than Tax: Takeaways From the Keynote Speaker
The conference featured Ian Bremmer, founder of Eurasia Group (which focuses on global geopolitical opportunities and risks, consulting with businesses and governments), as the keynote speaker.
In his speech, Ian cited the following key world risks (which we all know so well):
- The possible expansion of the Israel–Hamas war. We all know that there many efforts taking place in an attempt to avoid this.
- The risk of expansion of the Russia–Ukraine war, though Ian predicts a partitioned Ukraine with 20% of the Ukraine’s territory going to Russia and the rest of the country joining NATO.
- The world is strongly toward a post-carbon future that will, unfortunately, be 2.5 degrees hotter. The heat will dry up crops, cause climate events, and create water shortages. But, Ian suggests, when all is said and done, we will hand the next generations a post carbon world with inexpensive energy (once the solar panels are in place, the sun offers cheap energy).
- Lastly, what Ian calls “American vs. American” regarding our political divide. I recently watched a TED Talk recommending that we all openly talk to each other, especially if we hold different beliefs. That and being involved in our political system—no matter our views—is important now and always.
Ian also shared some good news:
- He believes the China–U.S. relationship will be stable even though there will be conflict. 40% of China’s provinces are in receivership. China cannot afford more capital flight.
- India just held an important election, which likely brings stability plus growth. This is good news for the most populous country on the planet. And the employability of Indians (who speak English) is important to world economic growth. I was amazed at the number of accounting firms at the conference who use off-shore staffing, i.e., virtual tax preparers and accountants from India (and from the Philippines, etc.).
- The U.S. will continue to lead the world in technology innovation, including artificial intelligence. Artificial intelligence will sweep every industry and be present on every cell phone. We won’t know that we are using artificial intelligence — just as we don’t necessarily know that today as we use GPS or Siri — we’ll just notice the capability. And, of course, we need to watch the risks.
Our Financial Advisors Are on Your Side. Always.
While attending the conference, I loved hearing that we are right where we need to be in serving you—and I suspect possibly even exceeding those of many wealth management firms. It is a true pleasure to provide you with valuable services, whether through tax savings, estate tax reduction, or strategies to enhance your investment results.
More importantly, it is an honor to know you and assist you in progressing toward your ideal life, enabling you to focus on what truly matters to you. Thank you for giving us the opportunity to serve and support you.
To get in touch with us at Laurel Wealth Planning LLC, email laura.kuntz@laurelwealthplanning.com or call (952) 854-6250.
About Laura
Laura Kuntz is a Senior Wealth Manager at Laurel Wealth Planning, a full-service, fee-only firm based in Minneapolis, Minnesota. A sounding board and voice of reason, the firm guards clients’ financial interests and goals at all times, freeing them to live the lives they want. Many of Laura’s clients are women navigating significant life transitions such as changes in marital status or retirement, and her ability to demystify complex financial concepts empowers clients to make informed decisions with confidence. Laura’s approach is client-centered, focusing on integrating all aspects of a client’s financial life to add meaning and value.
Laura earned a bachelor’s degree in economics with the highest academic honors from the University of Wisconsin-Eau Claire, after which she considered law school. She shifted her focus to the burgeoning field of financial planning after reading a life-changing article in Forbes. After honing her skills in various roles, Laura pursued further education, obtaining her CPA certification and a master’s degree in taxation from the University of Minnesota. She then applied her expertise to helping Fortune 500 executives and multi-millionaire business owners, climbing the ranks to director. In 1998, after her position was eliminated, Laura founded Laurel Wealth Planning. Her firm was built on the principle of providing objective, holistic financial advice. Her mission was, and remains, to help clients build and maintain financial independence with honor and decency. The team feels that Laura’s warm, open-minded, and down-to-earth style is one reason clients are drawn to her, and one of many reasons why they stay.
Laura is honored over the years to have been invited by her peers in law and accounting to address them on the complex issues of financial planning and wealth management. Beyond her professional achievements, Laura is deeply committed to giving back. She serves on the board of NPH USA, supporting orphaned and abandoned children in Central and South America, and helps direct the Father Wasson Legacy Endowment, which creates long-term financial stability for ongoing support of NPH children. When she’s not working, Laura enjoys documentaries, historical fiction, nature, and spending time with family and friends. To learn more about Laura, connect with her on LinkedIn.
Laurel Wealth Planning LLC (LWP) is an Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply any level of skill or training. LWP is a wealth management firm and does not practice law or accountancy. The information and material contained in this communication is confidential and intended for the recipient addressee named. If you are not the intended recipient, please delete the message and notify the sender immediately.
Important Information & Disclosure: The foregoing content reflects the opinions of Laurel Wealth Planning LLC and is subject to change at any time without notice. Content provided herein has been obtained from sources considered reliable, but we do not guarantee the accuracy, or the completeness of any description of securities, markets, or developments mentioned. The content is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results.
Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.
As a precautionary measure, we cannot rely on e-mail requests to authorize, direct, or affect the purchase or sale of any security, wire transfer, or to affect any other transactions. Such requests, orders, or other instructions sent via email should be confirmed verbally, or by written instructions faxed to 952-854-6250 prior to their anticipated execution. We are unable to ensure that email sent to you from us, or sent from you to us, will be received. Please contact us at 952-854-6250 if there is any change in your financial situation, needs, goals, or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend that you compare any account reports from Laurel Wealth Planning LLC with the account statements from your custodian. Please notify us if you do not receive statements from your custodian on at least a quarterly basis. Our current disclosure brochures, From ADV Part 2 and Form ADV Part 3, are available upon request and on our website, www.laurelwealthplanning.com This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.
Laura, the founder of LWP, is a Senior Wealth Manager, Chief Investment Officer and Shareholder. She has a master’s degree in tax and is an excellent listener. While she is a sophisticated financial planner with experience in complex issues, her priority is ensuring a financial plan works for people.
