Taxes

• Tax Planning
  Why is that important? Well, you can make a prior-year contribution to a traditional IRA until the tax filing deadline for that tax year. So, if you put together your taxes and see that you need to pay the government $1,000, try putting into the tax planning software that you make a $1,000 traditional IRA contribution instead. It would probably reduce how much you owe in taxes.
• Charitable Giving
  It keeps the amount that you send to the charity out of your taxable income all together, instead of just being able to deduct the amount of the charitable contribution (as if you just sent a check from your checking account). This is the most efficient way to donate to charity especially since the 2018 tax reform made it harder for households to deduct charitable gifts from other sources.
• Roth IRA
  If you’re following me, you might see where I’m going. If we’re in a low tax bracket this year because we had lower taxable income than usual, it might make sense to make a Roth IRA contribution at tax time instead of a traditional IRA contribution that would lower your taxes.
• Tax Deductions
  A ‘traditional’ contribution is done on a pre-tax basis, and then tax is taken on money that you withdraw from the account in the future. For a Roth contribution, we use after-tax dollars. We don’t receive a tax deduction for these contributions (so they won’t lower our tax liability) but we don’t pay tax on the money we take out of Roth accounts later on.
• Income Tax

Investment

• Investment Management
  In 2003, our President and Founder, Scott Nasca left a Rochester-area investment management firm. His objective was to create an advisory firm where a focus could be placed on family and service.
• Mutual Funds
  Funds within a 403(b) can only be invested in mutual funds or insurance annuity contracts. 403(b) plans are sometimes referred to as “tax-sheltered annuities.”
• Wealth Management
  GCM was voted as one of the three Best Wealth Advisors in the Wealth Management Category in the Rochester Business Journal Annual Reader Rankings. More than 13,700 nominations were collected during the nomination period in March of 2022. The winners were determined by more than 28,500 votes cast in May of 2022.

Accounting

• Accounting Services
• Payroll Services

Planning

• Financial Planning
  Our financial planning process aims to help you optimize the monetary situation of you or your family. This involves making recommendations that actually fit who you are and how you live.
• Retirement Planning
  Retirement planning looks different for every household with whom we’ve worked, but we’ve identified three stages of life as they relate to retirement...
• Annuities
• Asset Management
  Additionally, we share our expertise with corporations, nonprofits, municipalities, and other entities through asset management, retirement plan services and cash management.
• College Funding
  Luckily, the GCM team is happy to share with you this guide with some tips and strategies for education planning.