tax

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 heirs. We will help ensure that your retirement plan takes full advantage of available tax credits and deductions to ensure that you and your heirs are maximizing wealth for generations to come.

Compass Wealth Management has a strategic partnership with Gradient Tax, LLC (GT).  Our Firm utilizes their exclusive team of CPA’s to provide tax planning, preparation and filing services for our clients.  Our clients receive proactive advice on tax reduction strategies based on income, expenses, individual needs, and goals.  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.

Throughout the year, GT will monitor tax law changes that could affect our clients, recommending tax savings strategies as well as serving as your advocate in tax matters.  Our client’s tax returns are prepared so they only pay what they are required to pay and not a penny more.

Based on this strategic partnership, we will 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.

TAX PLANNING SERVICES

  • CPA Prepared Roth Conversion Analysis
  • CPA Prepared 2nd Opinion Prior Year Individual and Business Tax Return Reviews
  • CPA Prepared Year-End Tax Filing Services
  • 1040 Tax Optimization Reports
  • Personalized Tax Reduction Reports

EXPERIENCE

Handpicked to serve as Sr. Tax Strategist for Gradient Tax, LLC, Nick Stovall CPA, MBA boasts an extensive background in accounting, finance and investments.  With over 20 years of experience, he brings decades of private industry accounting, public accounting, business taxation, IRA taxation, technical taxation, tax law and tax policy knowledge to the organization. Stovall also holds his series 7 and 66 as well as his life and health insurance license. With an in-depth knowledge of the financial services industry and solid understanding of the complex demands of diverse business settings, his experience provides an invaluable perspective on the intricate relationships between tax and business issues.

Nick has been featured on both local and national media highlights include Investment News, Financial Planning Magazine, Bloomberg and numerous radio broadcasts. He remains active in the accounting industry and is a member of the American Institute of Certified Public Accountants (AICPA), Minnesota Society of Certified Public Accountants (MnCPA) and the Institute of Management Accountants (IMA).