Tax planning and filing
Tax planning connected to the decisions that create the tax bill.
Flames Planning includes proactive tax guidance and a planning-focused review of one completed personal tax return, but not preparation or filing. Eligible Flames Premier members receive individual tax-return preparation and filing through Flames FP's designated independent tax partner.
Direct answer
Can a Financial Advisor Include Tax Planning and Tax Filing?
Yes, when the scope is clear. Flames Planning includes proactive tax guidance and a planning-focused review of one completed personal return, but no preparation or filing. Eligible Flames Premier members receive preparation and filing of one federal individual return and all required state individual returns through Flames FP's designated independent tax partner, currently Fifteenth.
Year-round planning
Tax decisions happen before the return is filed
A tax return reports what already happened. Tax planning looks forward and helps evaluate choices while there is still time to act.
Income and withholding
Review withholding, estimated payments, bonuses, equity compensation, and other income changes before year-end surprises develop.
Investment tax decisions
Coordinate gains, losses, charitable giving, account location, and portfolio changes with the rest of the plan.
Retirement tax strategy
Evaluate Roth conversions, retirement contributions, withdrawal sequencing, RMDs, and Medicare-related income thresholds.
Premier tax coordination
Close the gap between recommendations and the tax return
For eligible Premier members, the designated independent tax partner can prepare and file the covered individual return with relevant planning context. Flames FP provides financial planning and coordination; the tax partner prepares and files the return.
Planning context stays visible
The filing process can account for covered investment activity, retirement decisions, charitable gifts, and major household changes already discussed.
Questions have one home
Instead of moving between unrelated conversations, the planning relationship can connect the tax question to the financial decision.
Next year starts sooner
Filing results can become inputs for the next round of withholding, estimated payments, retirement contributions, and tax planning.
Common planning moments
When tax coordination matters most
Taxes become especially important when income, investments, retirement timing, or family circumstances are changing.
High-income years
Bonuses, RSUs, ESPPs, stock options, and changing compensation can affect withholding and planning decisions.
Retirement transitions
Roth conversions, Social Security, Medicare, pensions, RMDs, and portfolio withdrawals can interact in the same tax year.
Portfolio and family changes
Large gains, concentrated positions, charitable giving, inheritance, and estate decisions may require coordinated tax review.
Primary sources
Use current rules from the agencies that administer them
Tax planning should start with current primary sources, then apply those rules to the household's facts. These 2026 figures are general information and not a personalized recommendation.
2026 401(k) limits
The IRS lists a $24,500 employee deferral limit for 2026, an $8,000 standard catch-up for people age 50 or older, an $11,250 catch-up for eligible ages 60–63, and a $72,000 overall defined-contribution limit before catch-up contributions.
2026 Minnesota brackets
Minnesota lists individual income-tax rates of 5.35%, 6.80%, 7.85%, and 9.85%. The bracket that applies depends on filing status and Minnesota taxable income.
Check withholding
The IRS Tax Withholding Estimator can help wage earners review federal withholding after income, job, marriage, dependent, or deduction changes. The result still depends on accurate inputs.
Watch and learn
See Tax Planning Decisions in Context
Use the video for the walkthrough, then use the written guide for the details, examples, and next steps.
How to Decrease Your Tax Bill
Review practical tax-planning decisions that can connect income, investments, retirement, and withholding.
Watch and read the guide
Four Common Backdoor Roth IRA Mistakes
Understand contribution, conversion, pro-rata, and reporting mistakes before they create tax problems.
Watch and read the guideCommon questions
Tax Planning and Filing Questions
Which Flames memberships include tax preparation and filing?
Only eligible Flames Premier memberships include preparation and filing through the designated independent tax partner. To qualify for a tax year's return, the client must join Premier by September 30 of that tax year and remain an active Premier member through filing. Planning includes proactive guidance and a planning-focused review of one completed personal return, but not preparation or filing.
What tax returns are included with eligible Premier memberships?
The covered scope is one federal individual income-tax return and all required state individual returns. K-1s, Schedule C and Schedule E activity, rental properties, equity compensation, and cryptocurrency are included within that covered individual return. A second federal return for married filing separately and business, trust, estate, gift, amended, and prior-year returns are excluded, as are tax-notice or audit representation, bookkeeping, and records cleanup.
What if tax documents arrive close to the filing deadline?
Late documents do not create an additional membership fee, but the tax partner may file an extension and cannot guarantee completion by the original filing deadline.
What is the difference between tax planning and tax preparation?
Tax preparation reports and files what happened during the year. Tax planning evaluates decisions before or during the year to understand potential tax consequences and available choices.
Can tax planning be coordinated with investment management?
Yes. Investment sales, gains, losses, charitable gifts, account location, and withdrawals can all affect taxes, so coordinating the two can improve decision-making.
Does tax planning include legal or accounting advice for every situation?
Scope depends on the membership and household circumstances. Complex legal, business, or specialized tax matters may also require coordination with an attorney, CPA, or other qualified professional.
Does Flames FP charge an AUM fee for tax-aware investment management?
No. Flames FP uses fixed quarterly membership pricing rather than charging a percentage of assets under management.
Next step
Connect the tax return to the financial plan.
Schedule a discovery meeting to discuss the tax, investment, retirement, and filing work your household needs coordinated.