Are you thinking about making a major purchase?
Well, have you considered all of your financing options and how you can help maximize tax efficiencies of the option you choose? For example, maybe there’s a beachfront property you have your eye on but you’re unsure about the best way to purchase it.
Your Wells Fargo Private Bank team can help you understand and evaluate each purchasing option in the context of your overall wealth plan. We can help you consider if a jumbo mortgage is right for you, and how it may impact your maximum interest tax deduction.
Liquidating some of your existing stock to fund the purchase is another option; however, that may trigger capital gains taxes. Or, maybe pledging your existing securities as collateral for a line of credit is a good option because it frequently offers tax benefits.
With this option, a financial advisor from Wells Fargo Advisors can join the conversation to help you assess whether it makes sense for your situation.
Regardless of which strategy you ultimately choose, your team will be with you every step of the process. We’ll work closely not only with you but with your tax advisor to make sure the tax implications of your financing strategy are fully explored, understood, and align with your overall goals.
We’re here to assist you with your major purchasing needs while helping you keep your overall wealth plan intact. Maximizing tax efficiencies with thoughtful borrowing is just one of the five strategic ways credit can be put to work for you.
Let’s start a conversation about credit. Contact Wells Fargo Private Bank to learn more.