Bay Rivers Group

Investment Management, Financial Planners, Financial Planning Consultants

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Map & DirectionsDirections368 McLaws CirWilliamsburg, VA 23185 Write a ReviewWrite Review

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Extra Phones: Phone: (757) 259-2452
AKA: Bay Rivers Group LLC
Categories: Investment Management, Financial Planners, Financial Planning Consultants, Financial Services, Investment Advisory Service, Investments, Stock & Bond Brokers

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Phone: (757) 259-2450

Address: 368 McLaws Cir, Williamsburg, VA 23185

Bay Rivers Group

Taxes

Tax Planning
Give us a call today and we’ll help you evaluate your options. It’s important that all investment titling and beneficiary designations are working in concert with your will or other estate planning documents. Speak with your estate and tax planning professionals to evaluate any potential tax ramifications and call us today to learn more about strategies and resources that may help you preserve your nest egg.
Estate Taxes
Tax Services
Would you consider using Bay Rivers Group Tax Services (a separate entity from Bay Rivers Group Wealth Partners)?
Roth IRA
By converting from a traditional IRA to a Roth IRA, future gains become tax-free. But when you convert funds from a traditional IRA to a Roth IRA, you must pay taxes on the converted amount that year. You can choose to convert all or just part of a traditional IRA to a Roth IRA. Timing should be based upon when you are in a lower tax bracket or have other offsetting deductions. We can help you gauge the costs and benefits of a Roth conversion in your situation. Beware of penalties if you may need to tap into your Roth IRA funds in the next five years and you are or will be younger than age 59.5 when you need these funds.
Tax Deductions
With a traditional IRA, you may qualify for a tax deduction when you invest your money. But later, when you take the money out in retirement, all those distributions are taxed. The Roth IRA is the opposite. It has no deduction when you put the money in, but later, all distributions are tax-free when you take the money out during retirement.
Income Tax
If your retirement income at age 66 was $2,000 per month, this could be a difference of over $200,000 during your lifetime. Arriving at a decision on when to retire is not easy. If you retire early, it could affect your spouse’s benefits. And wages and other taxable income could cause up to 85% of your Social Security benefits to be exposed to income taxes. Proper planning takes all of these factors into account to determine a Social Security strategy. For instance, a repositioning of assets could reduce taxable income and provide for more reliable monthly income. With over 500 different combinations of factors affecting benefits, it makes sense to talk to a financial advisor and get it right.

Investment

Investment Management
A CFA is a Chartered Financial Analyst who has passed a rigorous course of study. Their focus is investment analysis and portfolio management.
Bonds
Wealth Management
Introducing the team at Bay Rivers Group Wealth Partners. We’re an independent financial advisory and wealth management practice dedicated to collaborating with individuals, business owners, families, and generations. We help you manage, grow, and transfer wealth.

Accounting

Accounting Services
A CPA is a Certified Public Accountant who has passed required college courses and has a bachelor’s degree. In addition, they have passed a 19 hour 2-day exam. Their focus is taxes, auditing and bookkeeping.
Payroll Services
Bookkeeping Services

Planning

Financial Planning
A CFP is a Certified Financial Planner who must pass stringent standards for Education, Examination, Experience and Ethics while providing financial planning to clients.
Retirement Planning
Long Term Care
Fourth - Medicare covers a lot, but not everything. Services like long-term care, dental and vision care are not covered. People often purchase additional private coverage for these types of services.
Asset Management
Aside from the transfer process, one of the most important parts of this step is to link our clients to our client portal. The client portal is the financial dashboard providing information to you about performance, asset allocation, portfolio risk scoring, financial plan results, and account aggregation.
College Funding

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