September 2023 Newsletter

Tax Efficiency – How we Work to Save Your Tax Dollars

One of the things that we pride ourselves on is our work with clients on tax efficiency. What do we mean by that? Globally speaking, something is “tax-efficient” if it is taxed at a lower rate than an alternative. Basically, tax efficiency refers to doing something to help reduce your tax burden.

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Sign-Up for Automatic RMD Service Today!

It is our goal to provide a client-friendly, proactive approach to processing your Required Minimum Distributions (RMDs) on an annual basis.

Common RMD Questions

  • Did I take my RMD(s) this year? It can be difficult to remember year to year, especially if you have multiple RMDs to address.  No more worrying about this – RMD Service will ensure you get your RMD every year on a date you personally select.
  • Did I take the full amount of my RMD(s)? With your RMD amount(s) changing annually, disbursements may or may not add up to the full amount. We will do the calculation for you and ensure you get the right amount.
  • When is the best time to take my RMD? We proactively raise cash throughout the year to ensure we can cover your RMD. Thus, there is not a “better” time of year in which to take your RMD from a market perspective.

What is RMD Service?

RMD Service enables you to authorize an automatic calculation and disbursement of your annual RMD on the same day every year.  The RMD funds can be moved to your Raymond James investment account or to an outside banking account.

Benefits of RMD Service

  • Save time! – Set RMD Service up once, and you are done for life.
  • Peace of mind – Automatic distributions prevent potential penalties for missed withdrawals.
  • Flexibility – Transfers are completed on the same day annually, quarterly or monthly to help you manage your resources.

Enroll in RMD Service

If you would like to enroll in RMD Service, please contact us (810-732-7411 or email: and we will start the process. Following are the questions we will ask:

  • Do you want RMD Service on an annual, quarterly, or monthly basis? Most people do annual RMDs.
  • Pick a month / day (10th – 25th of each month) for distribution
  • Determine your federal and state tax withholding amount (you may want to consult your CPA / Tax Preparer)
  • Identify the account in which you want to deposit your RMD

Learn how financial planners are an integral part of a business owners advisory team in this article by Sherri Stephens.

Mistakes Snowbirds Make 

With all the excitement associated with becoming a snowbird or buying a second home, important details can be missed. Our hope is to help you save time, and possibly money, by learning six mistakes snowbirds make. Nearly half of our clients live the snowbird lifestyle. Thus, we have a lot of data and conversations to pull from. Read on and set yourself up for success on the snowbird / multi-home journey.

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Business Owners – Increase Your Retirement Savings

As a business owner, how can I save more for retirement while mitigating taxes? Business owners grapple with this question often. We know that business owners focus on reinvesting profits back into the growth of their business. And, while this is a great practice, it can mean that individual retirement savings are set on the back burner. It can also mean that business owners trying to catch-up later in their working years are limited by the annual contribution limits of a typical defined contribution plan.

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