Reno Tax Planning

We all want financial peace of mind in our future. At TCI, one way we achieve this for our clients is through proper tax planning, often referred to as being tax efficient. Since we are focused on fulfilling long-term goals, one of the last surprises we want  you to receive is an unexpected tax bill. While you are taking advantage of all the Reno area has to offer, we want you to focus on the breathtaking place we call home. Whether you’re skiing, mountain biking, or hiking, our purpose is providing you the peace of mind of knowing that your financial plan is in good hands.

In 1984, Douglas L. Nelson CPA, PFS, with his partners, opened Ashley Quinn Nelson Consultants and CPAs in the heart of Incline Village at Tahoe Boulevard and Country Club Drive. Douglas’ firm specialized in tax planning for individuals, families and businesses. His clients noticed the integrity he brought to their accounting needs and eventually, the conversation shifted to other financial topics, such as wealth management.

Douglas was not impressed with the advice his clients received from some advisors, and this got him thinking. Could he bring the ethics of a CPA to wealth management? Within a couple years, Douglas transitioned from being a CPA to being a wealth advisor. Yet, he never lost sight of his CPA roots, utilizing his accounting knowledge in every plan he built. Doug is now based out of TCI’s Tucson office. Now, he and TCI  bring  tax efficiency strategies to our clients in the Reno area.

While we’re not CPAs, part of our comprehensive approach to wealth management involves suggesting ways to optimize your taxes, because financial plans and tax planning go hand in hand. By making recommendations, we try to plan for the future. As early as possible, we want to identify any tax liabilities your plan may have.  For example, if you incur any capital gains taxes, we can  help you offset them by donating to one of Reno’s remarkable nonprofits. Mapping out your tax future is one of the many ways we help plan your financial future. We want to get to know you and your goals. Then, we can build a financial plan that utilizes tax strategies to help you achieve your goals.

Our approach to tax planning is straightforward and time-tested, and our strategies are unique and personal. First and foremost, your current economic situation, as well as your future goals as a client, are always at the forefront. Every decision we make is centered on you. The second is based on real-time tax data with the goal of keeping as much money in your pocket as possible. Our method is fact-driven and data-focused, using high-level tax expertise you and your family can trust.

We’ve been helping friends and neighbors understand their investment needs since we opened our doors in Reno in the early 1990s. Our first steps in understanding your investment needs are listening to you and the goals you’d like to accomplish. Once we get a sense of those, we’ll start tailoring a plan that suits your needs. Since planning for financial freedom rarely comes down to investing alone, we’ll look at your insurance coverage, explore tax efficiency strategies and review your estate plan. Each of these plays an important role in helping us understand your investment needs. Whether you’re a long-time Nevada resident or one of our new neighbors, our team is here to help bring meaningful impact to your life through investing.

TCI’s data-driven approach to investing is about focusing on long-term results. A lot of noise surrounds investing, and we think it’s best to tune that out. The noise can make people feel stressed and overwhelmed. Who needs more of that? Instead of focusing on market activity, we want to build a plan with which you are comfortable and confident. Our goal is to provide you with peace of mind knowing you and your assets are in good hands. There are more important things to do in the beautiful Reno area than worry about your portfolio. We would rather have you skiing down Mt. Rose, hiking the Tom Cooke Trail or mountain biking the Dry Pond Loop, or whatever you’re into than track market performance.

A well-built financial plan feels like a puzzle coming together, potentially messy at the beginning but once the pieces come together your objectives take shape. When these details are taken care of you have more time to focus on your purpose and passions, and that’s when you truly begin to be yourself. The plans TCI creates for clients are built around their unique investment needs and consider cash flow needs, risk tolerance and behavior towards money. The plans are not about chasing hot stocks and hoping for a big hit. Our plans are backed by academic research and discipline. Markets may jolt, but they shouldn’t derail a well-crafted plan.

The number one question we receive is “Will I outlive our money?” While this question holds a lot of weight, finding the answer is simple. At TCI, we examine three key questions:

• What is your desired lifestyle?
• What are your goals?
• How much will it cost?

When we answer these questions, we set the baseline for the goal of your financial plan, and we begin to envision an outcome from which we can work backwards. Your financial plan and fulfilling your aspirations are all about you–the Advisor you select to accompany you on your financial journey is a means to help you get wherever you want to go.