Perhaps the most impactful piece of retirement planning is determining your current and future tax liability and developing strategies to minimize the amount of taxes you pay in retirement. Tax planning can have a large impact on the amount of wealth you will be able to transfer to your legacy. Summit Tax Advisory Services will help ensure that your retirement plan is tailored to utilize both tax-advantaged and taxable products to help certify you and your heirs are maximizing wealth for generations to come.

Summit employs state-of-the-art technology to elevate its practice to include comprehensive tax planning as part of an overall financial plan. This is just one element that separates us from ordinary financial planners.

Proactive tax planning allows our clients the opportunity to minimize tax burdens and build a solid foundation of tax reduction strategies that can result in years of tax savings.

Tax Planning Services

  • Roth IRA conversion analysis
  • Year-end tax filing services
  • Form 1040 tax-optimization reports
  • Personalized tax-reduction reports


  • Capital Gain Tax
    Capital gains are profits realized from the sale of assets; a tax is triggered only when an asset is sold, not held.
  • Gift Tax
    The federal gift tax applies to gifts of property or money while the donor is living.
  • Retirement Plan Limits
    IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.
  • Retirement Plan Taxes
    With traditional IRAs and most employer-sponsored retirement plans, taxes are not payable until funds are withdrawn.
  • Withdrawing Before Age 59.5
    Tax-deferred retirement account withdrawals before age 59½ generally triggers a 10% federal income tax penalty.
  • Tax Deferral
    There can be a substantial benefit to deferring taxes as long as possible.
  • Tax-Advantaged Investments
    Many traditional tax-advantaged investment strategies have gone away, but there are still some alternatives.
  • Tax Deductions
    Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses.
  • Tax-Advantaged Alternatives
    While stable, CDs can create quite an income tax bill. Fixed annuities and municipal bonds can offer tax advantages.
  • Tax-Free Investments
    It’s important to understand tax-exempt vehicles when establishing a comprehensive tax planning strategy.
  • Mutual Fund Profits
    Want to keep more of your mutual fund profits? You may be interested in strategies to help lower your tax liability.
  • Tax-Free Insurance Upgrades
    A 1035 exchange allows you to exchange your life insurance policy for one from another company without tax liability.
  • Estate Tax
    Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.

Click to view  TAX LIBRARY 

We strive to implement a sound, well-thought-out financial strategy to minimize year-to-year tax liabilities and provide the opportunity to maintain your current standard of living throughout retirement.