Taxes & the Lack of Planning | Adulthood

THE TAX PLANNING GAP:

Why do we treat taxes like a surprise? Hope is not a tax strategy.

We know they’re coming, and yet some investors fail to plan ahead. Our team and process are focused on tax-aware planning and are intended to help clients manage and potentially reduce lifetime tax costs, depending on individual circumstances and changes in tax law.

WELCOME TO ADULTHOOD: Parents of high school seniors: 18-year-olds are considered adults in 47 of 50 states. Before you send your child off to college, get their power of attorney and estate documents in place.

Plan ahead and avoid a worst-case scenario: they are admitted to a hospital, but you have no access or decision-making authority without the proper documents.

If you need an attorney or an online tool for this, we can make the introduction.

LESS FREQUENT RECESSIONS: Despite headlines, recessions are occurring less frequently (see chart below). For investors, this means full-blown credit cycles occur less often. Preparation for sector-specific cycles is often advisable (i.e., current downturn in software).

MAG 7 LOOKS MORE LIKE THE LAG 7:

JOBS THAT DON’T EXIST: We found this article on the shift of employment from the 19th century quite fascinating. Wonder what the next few decades hold.

DEADLINES APPROACHING: Remember to fund your 2025 Roth, IRA, or SEP IRA before the upcoming April 15th deadline.

HUMAN SCHOOL: A podcast recommendation—handling topics common to many, but rarely discussed. “We’ve been taught everything, except how to be human.” Check it out here.

*The views expressed represent the opinions of Compass Ion Advisors, LLC, as of the date noted and are subject to change. These views are not intended as a forecast, a guarantee of future results, an investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial, or legal advice or service to any person. The information contained has been compiled from sources deemed reliable, yet accuracy is not guaranteed.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website here. Past performance is not a guarantee of future results.