At Proper Wealth, we have a defined planning and review cadence designed to coordinate tax strategy, investment management, estate planning, insurance, and cash flow decisions throughout the year. The objective is simple: improve outcomes through proactive coordination and intentional timing.

During the first quarter, we prepare a Tax Summary Letter outlining the tax documents you should expect to receive and how to access them. The letter also summarizes key planning transactions completed in the prior year—such as Roth conversions, capital gain harvesting, QCDs, or required minimum distributions—to ensure your tax reporting aligns with our strategy. With your authorization, we can provide this directly to your CPA to support coordinated filing.

During the first quarter, we develop your Initial Tax Plan for the year. This includes establishing a capital gain budget, evaluating Roth conversion opportunities, planning for RMDs or QCDs, reviewing gifting strategies (including donor-advised funds or appreciated asset gifts), coordinating estimated tax payments, and other tax-driven planning items as applicable. The objective is to align investment decisions, income planning, and charitable strategies before major transactions occur and to coordinate assumptions with your CPA. To complete this plan, we typically require your most recent tax return and may request updated income estimates or other relevant information.

During the first quarter, we review how much was saved or distributed in the prior year and establish an updated cash flow plan for the current year. This includes a coordinated savings or distribution strategy across retirement accounts (IRA, Roth IRA, employer plans), HSAs, taxable accounts, and other applicable vehicles. We also determine whether any prior-year contributions remain eligible before tax filing deadlines. The objective is to ensure savings levels, account selection, and distribution strategy align with your values and goals while fitting within your broader tax and investment plan.

During the second quarter, we review unrealized capital gains within your non-qualified (taxable) investment accounts and compare them to the capital gain budget established in your Initial Tax Plan. If appropriate, we execute trades in a controlled, tax-aware manner to ensure portfolio positioning remains aligned with your broader investment strategy and overall tax plan.

During the second quarter, we review your balance sheet to evaluate outstanding debt, including mortgages, lines of credit, auto loans, student loans, and other liabilities. We compare existing interest rates and terms to current market conditions to determine whether refinancing, restructuring, or accelerating payoff is appropriate, ensuring alignment with your broader financial plan, liquidity position, risk tolerance, and long-term goals.

During the second quarter, we review your employer-sponsored retirement plan to ensure contributions, beneficiaries, and investment allocations remain aligned with your broader financial plan. To complete this review, we schedule a meeting to log into your employer plan together and evaluate current elections and investment selections. If adjustments are appropriate, we provide recommendations and coordinate implementation with you.

During the third quarter, we review your existing estate planning documents and provide a summary of key roles, key individuals, and how assets are intended to pass. We compare your estate documents to current account titles and beneficiary designations to confirm alignment and identify any inconsistencies. If adjustments are needed, we coordinate with you and your other advisors as appropriate.

During the third quarter, we review your insurance coverage on a rotating basis. In odd-numbered years, we evaluate life and disability insurance to assess coverage amounts and policy structure. In even-numbered years, we review property and casualty coverage, including homeowners, auto, boat, umbrella, and related policies, to ensure appropriate protection relative to your assets, income, and overall risk exposure.

During the third quarter, we conduct a detailed review of your most recently filed tax return to ensure it accurately reflects relevant demographic information, income reporting, capital gains, deductions, charitable giving, and other material items. We also review current income information to determine whether you are on track to owe additional taxes or receive a significant refund at year-end and coordinate adjustments with you and your CPA if necessary.

During the fourth quarter, we revisit your tax plan using updated income information and insights gained from the Tax Return and Income Review completed earlier in the year. We evaluate whether adjustments are needed before year-end, including refining capital gain targets, evaluating additional Roth conversions, coordinating charitable giving, or adjusting estimated payments.

During the fourth quarter, we review your employer-provided benefits to ensure elections for the upcoming year align with your broader financial plan. This may include health insurance options, HSA elections, flexible spending accounts, retirement plan contributions, deferred compensation plans, and other available benefits.

During the fourth quarter, we revisit your non-qualified (taxable) investment accounts to determine how much capital gain should be captured before year-end, ensuring alignment with your tax plan and overall income strategy.

During the fourth quarter, we revisit your savings and distribution plan to determine whether any additional contributions or distributions should be made before year-end, ensuring you fully utilize available opportunities and remain aligned with your broader tax and investment strategy.