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Ark Royal Wealth Management June 2025 Planning Tip

Published 3 months ago • 1 min read

June 2025 Planning Tip

Surprised by your 2024 tax bill?

You're not alone- and it's often not just about how much you earned, but how effectively you planned throughout the year. Many people assume taxes are a once-a-year consideration, but the truth is that small decisions made throughout the year can lead to big surprises come April. That’s why tax planning is a key part of our ongoing client reviews.

Here are some common mistakes and missteps we see:

Improper Withholdings

  • Withholding too little from paychecks or freelance income can lead to a year-end bill.
  • Over-withholding means giving the government an interest-free loan all year.
  • Income from side gigs, bonuses, or pensions often lacks the right withholding setup.

Tax-Inefficient Investing

  • Selling stocks, crypto, or real estate without planning for capital gains can trigger surprise taxes.
  • Some financial advisors focus on performance but overlook tax implications altogether.

Life Changes

  • Getting married or divorced can change your filing status and tax bracket.
  • Having a child or losing a dependent affects your deductions and credits.
  • Moving states can mean different income tax rules and potential double taxation.

Year-End Income Events

  • Year-end bonuses or stock option exercises can push you into a higher bracket unexpectedly.
  • Required minimum distributions (RMDs) from retirement accounts can bump up taxable income.
  • Large one-time windfalls (inheritance, settlements) often come with tax strings attached.

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A little proactive planning throughout the year can help you avoid a big tax-time shock. We help our clients stay ahead of these issues- not just react to them. If you’re unsure how your 2025 is shaping up, now’s the time to schedule a conversation and take control of your tax outcome.

Whenever you're ready, we’re here to help:

Managing your own finances can be overwhelming. If you’d like to experience the benefits of working with a trusted advisor we invite you to schedule a no-obligation phone call to explore how working with Ark Royal might enhance your wealth and peace of mind.

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Raleigh, NC 27607

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