As the year draws to a close, it’s time to start integrating tax-smart strategies into your financial plan for the upcoming tax season. Effective tax planning can help you minimize your tax burden, maximize your savings, and enhance financial success into 2025 and beyond.

You work hard to accumulate wealth, and you want to pass as much of it as possible along to your heirs and beneficiaries. But due to the size of your estate, you're on the hook to pay a hefty sum in estate and gift taxes.

You're not alone if you're unfamiliar with the net investment income tax (NIIT). While it's been around since 2010, it's not something that impacts everyone. However, if you have annual investment income and are a high-income earner, you could be subject to this tax—making it important that you understand what it is, how it’s calculated, and how you can plan for it.

Discover the hidden tax ripple effects of large capital gains, including the Net Investment Income Tax and increased Medicare premiums. Learn how to prepare and protect your financial plan from unexpected costs.